The use of prepaid cards has exploded over the last decade or so — in 2003 consumers put less than $1 billion on prepaid cards annually, but by 2012 that figure had grown to $65 billion and by 2018 that figure is projected to reach as...
In a rare moment of bi-partisan agreement, House members sent the CFPB a letter last week to explicitly request the agency rethink some of its proposals to rein in payday lenders (and other providers of short terms loan offerings) as they fear the net result...
Consumers will save, if you incentivize them to save. That’s according to a new report from the Consumer Financial Protection Bureau. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Five years in and a million complaints down. That is the story the CFPB is putting out today — since having been founded in 2011, the Consumer Finance Protection Bureau has handled over one million consumer complaints, a milestone they sailed past earlier this month. Get the...
The Consumer Financial Protection Bureau said on Tuesday (Sept. 27) that it has taken action against an online lender, LendUp, with fines levied of $1.8 million and an additional civil penalty of $1.8 million. Get the Full Story Complete the form to unlock this article...
The Consumer Financial Protection Bureau said on Monday (Sept. 26) that it has levied a $9 million fine against TitleMax, among the nation’s biggest auto title lenders, for misleading consumers over costs tied to loans and also for using unfair debt collection efforts. Get the...
The Consumer Financial Protection Bureau (CFPB) announced on Friday (Sept. 23) it filed a lawsuit in federal district court against credit repair company Prime Marketing Holdings, which it contends charged consumers a series of illegal advance fees, as well as misrepresented the cost and effectiveness...
The Consumer Financial Protection Bureau will not be able to spend much time savoring its victory against Wells Fargo and the huge $185 million settlement against the banking giant levied earlier this month. Get the Full Story Complete the form to unlock this article and...
If startup innovators and finance experts are struggling to keep ahead of the curve in the rapidly evolving digital and physical finance world, educators and curricula developers are surely a few steps behind. The Consumer Financial Protection Bureau (CFPB) has released a report that contains...
