CFPB fined the bank nearly $3 million for false advertisements of “free” checking accounts.
Millions of Americans are excluded from the banking system due to reports that document their personal finance histories.
The Consumer Financial Protection Bureau again has raised concerns about overdraft protections at banks, today releasing a report that says small debit card purchases lead to expensive overdraft fees. “Today’s report shows that consumers who opt in to overdraft coverage put themselves at serious risk when they use their debit card,” CFPB Director Richard Cordray
Some nonbanks have “systemic flaws” in how they treat consumers, the CFPB says.
The Financial Stability Oversight Council advises government policymakers on how to address potential threats to the financial sector.
Some consumers end up paying more in fees than the amount of money initially borrowed.
How the two chambers are handling their oversight of the Consumer Financial Protection Bureau has become a study in contrast.
Created by the Dodd-Frank financial reform law, CFPB’s Office of Financial Education is just getting off the ground.
What if the appointment of the CFPB’s head is ruled unconstitutional?
The Consumer Financial Protection Bureau, or CFPB, plans to streamline a number of regulations it “inherited” as part of its inception from seven other agencies. And it’s asking the public for advice on how to tackle the job. Raj Date, special adviser to the Treasury on the CFPB, said in a statement the goal is