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The CFPB’s recent report reveals that more than 50 designations for financial advisers are out there, and many do not require training.
One woman in the U.K. accidentally transferred $40,000 into the wrong checking account over two years.
The CFPB posted a proposal allowing card issuers to charge what they wish before an account is opened.
American Express is facing enforcement action from the Federal Deposit Insurance Corp. and possibly the Consumer Financial Protection Bureau over the way late fees were assessed on some of its charge cards, according to its annual filing with the U.S. Securities and Exchange Commission. In addition to credit cards, American Express offers charge cards that
When you’re mad as heck at your credit card issuer, I bet you at least once thought about screaming into the phone …”I’ll see you in court!” I hate to prick your bubble, but it’s probably an empty threat. The Supreme Court ruled Tuesday that consumers who sign credit card agreements with arbitration clauses can’t
A year and half after the passage of Dodd-Frank created the Consumer Financial Protection Bureau, it will finally have a director. President Barack Obama today announced he would bypass the Senate through a recess appointment to put former Ohio Attorney General Richard Cordray at the head of the CFPB. Senate Republicans had refused to put
Even without an official head, the Consumer Financial Protection Bureau is charging forward with new plans to help Americans make smarter credit card choices. The federal watchdog group on Wednesday unveiled a credit card agreement prototype that spells out in plain English a card’s terms and conditions in just 1,100 words. Want to know how
Banks and nonbank financial providers can breath a little easier, at least for the time being. Today Senate Republicans blocked a vote to confirm former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau, citing Democrat’s unwillingness to restructure the agency. Republican leaders are looking to limit the power of the CFPB,
Despite sweeping changes to credit card practices in the last two years, Americans are still stumped by the terms of their cards. That’s one of the key findings this week from the new federal watchdog group, the Consumer Financial Protection Bureau. The agency analyzed more than 5,000 complaints it received from credit card holders from
The debut of a federal consumer watchdog doesn’t come without a few hiccups. The Consumer Financial Protection Bureau, which enjoyed its proverbial ribbon-cutting July 21, has run into its first problem: delayed credit card complaints. A Bloomberg News report on Tuesday revealed that some of the credit card gripes filed online on the CFPB’s website have
