America’s financial watchdog says unnecessary fees are cheating retirees out of their benefits. In its latest salvo against unwanted fees, the Consumer Financial Protection Bureau (CFPB) on Wednesday (March 1) warned that the financial products used to deliver Social Security and unemployment payments can often...
The ultimate fate of the Consumer Financial Protection Bureau rests in the hands of nine individuals. The Supreme Court agreed on Monday (Feb. 27) to hear arguments challenging the constitutionality of the funding of the CFPB. As widely reported Monday, the nine justices have agreed...
The Consumer Financial Protection Bureau is warning Americans about “double dealing” by mortgage comparison-shopping platforms. “Companies operating these digital platforms appear to shoppers as if they provide objective lender comparisons, but may illegally refer people to only those lenders paying referral fees,” the bureau said...
The Consumer Financial Protection Bureau (CFPB) is asking consumers and others about their experiences with credit cards. The information is to be used in a review of the industry that the CFPB does every other year, according to a Tuesday (Jan. 24) press release. “The...
Right out of the gate, the Consumer Financial Protection Bureau (CFPB) has had a busy 2023. The pace won’t slow as the year goes on, with small business lending, nonbank oversight, account fees and more in the crosshairs. The impact of possible fines, of new...
With a focus on fees, the Consumer Financial Protection Bureau (CFPB) may reshape cross-border payments, specifically the hundreds of billions of dollars in remittances that are sent overseas. The CFPB is mulling restrictions on the fees themselves that are charged on each transaction as workers...
America’s top consumer watchdog is reportedly looking to strengthen its rules for overseas money transfers. The Consumer Financial Protection Bureau (CFPB) is considering new restrictions on the fees charged by money-transfer companies for wiring money overseas, bureau officials told the Wall Street Journal (WSJ) Monday...
The CFPB says it has settled a lawsuit against a debt collection firm it accused of filing junk lawsuits against consumers. Assuming a judge approves the settlement, the agreement would bar the firm Forster & Garbus from filing any new lawsuit against a consumer unless...
A federal regulatory agency wants to take a closer look at nonbanks’ terms and conditions. The Consumer Financial Protection Bureau (CFPB) proposed a rule Wednesday (Jan. 11) that would require supervised nonbank financial companies to submit terms and conditions in their form contracts so that...
