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...
Each year, the Consumer Financial Protection Bureau issues a report on TransUnion, Equifax and Experian. And this year, as in the past, the three reporting bureaus are examined through the prisms of “improvements and deficiencies in the nationwide consumer reporting companies’ responses to consumer complaints,”...
The CFPB is urging consumer reporting companies to be mindful of users as they implement technology. In a Tuesday (Jan. 3) press release, the Consumer Financial Protection Bureau (CFPB) summarized its annual report on the companies’ responses to consumer complaints. The agency said in the...
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”...
