Ohio Senator Sherrod Brown has written CFPB director Richard Cordray to explicitly demand that the federal empowered consumer watch dog group take a closer regulatory look at payday and other small amount lenders. Senator Brown’s letter comes in the wake of a decision by the...
In the largest decision of its kind, the Consumer Financial Protection Bureau has ordered GE Capital Bank Thursday to pay an estimated $225 million to consumers “harmed by illegal and discriminatory credit card practices.” Get the Full Story Complete the form to unlock this article...
Large retail trade corporations during the first quarter of the year saw their sales rise, but a big boost on their provisions for deferred domestic taxes helped drive down their profits, new Census Bureau data show.
Payday lending is against the law in New York State and now Bank of America Corp will be the first big bank to use the NY regulator’s database to ensure it is not happening on the sly. The database will allow Bank of America to...
Earlier this week, the UK announced at a Payments Council event that it would be getting a new regulator in April 2015. As reported by Finextra, this would end the self-regulatory approach that banks currently have through the Payments Council. Get the Full Story Complete...
When it comes to saving for retirement, millions of Americans do not have a plan. And the Treasury Department wants to do something about that. In this latest edition of PYMNTS Voice of the Treasury Series, Assistant Secretary Richard Gregg explains how the government’s myRA...
Now that Apple has made a home for bitcoin apps in the app store, a new app – Coin Pocket – is climbing the charts. Since Apple lifted their ban on such apps earlier this month, the app has climbed to the 74th position in...
Taxi drivers from London to Madrid plan to bring traffic to a halt this afternoon, across Europe’s most popular shopping and tourist locations, in protest of Uber, reports Bloomberg. The San Francisco ride-sharing app poses a threat to traditional taxi services globally, as its reach expands to...
In his semi-annual Report to Congress and the President this week, CFPB Director Richard Cordray provided an overview of the bureau’s progress in protecting consumers from financial harm. So far, billions has been put back in consumers’ pockets and a slew of actions against banks...
