Issues with closing or managing a bank account made up the bulk of complaints.
CFPB alleges an online lender engaged in abusive and deceptive lending practices.
Consumer advocacy groups ask federal regulators to step up bank scrutiny.
U.S. court stops fake payday loan collectors operating in Cleveland, Atlanta.
Banks can report suspected elder financial abuse to proper authorities without fear of violating federal privacy notification and opt-out rules, federal agencies say.
The FDIC offers tips for seniors to manage their finances and protect against fraud.
JP Morgan Chase is changing bank policies to try to help protect customers from payday lenders’ aggressive practices.
The Better Business Bureau of the Mid-South, or BBB, is warning consumers about a magazine subscription service that allegedly debited consumers’ bank accounts without their permission, supposedly after mailing out notices about automatic renewals of magazine subscriptions. The company, Global Subscription Services, has an F rating with the BBB and operates with a Memphis, Tenn.,
Minority-owned community banks are vital institutions in the places where they do business, which are often under-served by financial services firms. That was the main point of remarks by John Walsh, acting comptroller of the currency at the U.S. Office of the Comptroller of the Currency, at a recent interagency conference on minority-owned depository institutions.
Recipients of certain federal government benefits should soon get some additional protection from creditors who want to seize the direct-deposited funds for repayment of debt. Federal law already prohibits creditors from taking government benefits out of checking accounts to satisfy unpaid debts. However, creditors have used court orders to freeze the accounts so that the