After the Equifax data breach that exposed the personal information of around 143 million consumers, Democrats have introduced a bill to give consumers the ability to freeze their credit for free. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
One week ago, the CFPB’s arbitration rule seemed more or less doomed to the scrap heap of financial regulatory history. Although it was approved in final form by the CFPB in July – after a lengthy and contentious rulemaking process – Republican lawmakers vowed to strike down the law within 24 hours...
California-based Zero Parallel LLC has been hit with a $100,000 fine by the CFPB, which accuses it of intentionally steering customers toward predatory payday lenders. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
Noting that the CFPB had “blatantly” ignored his directions, a federal judge in Atlanta has officially dismissed the case against Atlanta-based payment processor Global Payments and three others for allegedly aiding fraudulent debt collectors. Get the Full Story Complete the form to unlock this article and...
Debt relief is coming for about 41,000 Corinthian Colleges student borrowers who took out private loans to attend the for-profit university — to the tune of $183 million. The relief comes from a deal struck by the Consumer Finance Protection Bureau and 13 states’ attorneys...
Overdraft fees cost U.S. consumers $15 billion in 2016, according to news from the Consumer Financial Protection Bureau (CFPB), the government watchdog that is out with a new report on the impact of bouncing checks in American finance. Get the Full Story Complete the form...
The U.S. Consumer Financial Protection Bureau (CFPB) has ordered JPMorgan Chase to pay $4.6 million for allegedly failing to disclose accurate information in checking account screening reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
In an act that some are calling a governmental attempt to “mute a consumer megaphone,” the Trump administration is looking to make the complaints logged by consumers into the CFPB complaints data base private (as opposed to publicly available, as they now are). Get the...
Despite its recent passage by the CFPB, it looks like the rule banning mandatory arbitration in financial contracts is facing yet another obstacle — this one from the banks’ main regulator, the Comptroller of the Currency. Get the Full Story Complete the form to unlock...
