The Consumer Financial Protection Bureau says money transfer service UniTeller failed to provide customer refunds. The CFPB has ordered the New Jersey-based company to refund customers $33,000, and pay a $700,000 penalty, the agency said in a Thursday (Dec. 22) news release. “Consumers paid fees...
A regulator has proposed creating a registry of nonbank financial lawbreakers to detect “repeat offenders.” The Consumer Financial Protection Bureau (CFPB) has proposed that certain nonbank financial firms be required to register with it when they become subject to certain consumer financial protection agency or...
The Consumer Financial Protection Bureau (CFPB) wants Wells Fargo to pay more than $1 billion for alleged mistreatment of customers, a settlement that would surpass the agency’s record … last set by Wells Fargo. That’s according to a Friday (Nov. 4) report from Bloomberg News,...
The Consumer Financial Protection Bureau (CFPB) is looking at ways to give consumers more control over their financial data. Under the options the CFPB is considering, consumers would be able to more easily and safely “walk away from companies offering bad products and poor service”...
The Consumer Financial Protection Bureau (CFPB) is facing legal challenges to its very structure and its reach — and where it gets it funding. But for now, at least, the rulemaking (or something like it) continues, shaping consumer finance, competition, open banking and data sharing....
When a credit report says that a child has a mortgage or that someone incurred a debt years before they were born, that’s obviously false “junk data,” according to the Consumer Financial Protection Bureau (CFPB). What’s more, consumer reporting companies have an obligation to screen...
Only 12 years into its existence, and the Consumer Financial Protection Bureau (CFPB) may face an existential threat — or at least some significant restructuring. A three-judge panel via the Fifth U.S. Circuit Court of Appeals has ruled that the very design and structure of...
The Consumer Financial Protection Bureau (CFPB) has sued Active Network, saying the online event registration company duped people into signing up for its discount subscription club and generated $300 million in the process. According to a Tuesday (Oct. 18) news release, the CFPB lawsuit alleges...
America’s colleges have more work to do when it comes to protecting students from so-called “junk fees,” the Consumer Financial Protection Bureau (CFPB) said Thursday (Oct. 13). A new CFPB report looks at the terms and fees connected to banking products marketed to students by...
