Banks Look Beyond Lending as Margins Shrink

Wells Fargo has announced the termination of its 2022 consent order with the Consumer Financial Protection Bureau (CFPB) related to automobile lending, consumer deposit accounts and mortgage lending. “This is the seventh consent order closed by Wells Fargo’s regulators since 2019,” the bank said in...

The Consumer Financial Protection Bureau (CFPB) aims to stop banks from charging overdraft fees based on what it calls “phantom opt-in agreements” — cases in which banks claim to have customer consent to charge overdraft fees but can provide no proof. The agency published a...

JPMorgan Chase is facing a lawsuit over fees for deposited checks that bounce. In a lawsuit filed Wednesday (Feb. 21) against JPMorgan Chase, five customers accused the bank of unfairly charging fees for depositing checks that later bounced, Reuters reported Wednesday. The customers claimed that Chase charged...

The Consumer Financial Protection Bureau (CFPB) is reportedly set to face a crucial year in 2024 as the Supreme Court’s decisions loom over its plans to reshape the banking industry’s handling of customer data and fees. The CFPB, under the leadership of Director Rohit Chopra,...