The FTC is refunding $1.9 million to victims of a “free” credit report scam. The refunds stem from a 2017 lawsuit by the Federal Trade Commission (FTC) against a company known as Credit Bureau Center, the regulator said Thursday (Nov. 21). According to the FTC,...
The Consumer Financial Protection Bureau (CFPB) is urging legislators and other policymakers to make reforms that it said would improve student loan servicing. The regulator wants to see borrowers held harmless when they encounter servicing errors, and servicers held accountable for performance failures, it said in...
The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7) by the Consumer Financial Protection Bureau (CFPB) after the regulator found that the financial institution had charged members illegal overdraft...
The recent finalization of data-sharing rules may have sharpened the debate over risks and rewards of Section 1033 — to consumers, banks and FinTechs — and the rule has drawn its share of critics and legal actions. But during a discussion at Money 20/20 held...
January 17, 2024
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put forth a proposal Wednesday (Jan. 17) that would limit overdraft fees — in many cases, drastically so. In the release detailing the proposal, the CFPB […]
September 16, 2021
Nothing is as certain as death and taxes, they say. And when it comes to payments and credit innovations experiencing explosive growth, particularly buy now, pay later (BNPL) — perhaps...
August 25, 2021
As COVID-19 ebbs and flows and a sustainable re-opening for business and leisure remains shrouded in uncertainty, at least one thing has become clear; people everywhere are itching to pack...
December 02, 2019
Every merchant is looking for an edge – a way not only to make more money, but also to hit on fresh methods for building customer loyalty and trust. As...
November 27, 2024
The Federal Trade Commission (FTC) is a step closer to expanding its Telemarketing Sales Rule (TSR) to enable it to combat tech support scams. After announcing the proposal in April and receiving public comment on it, the regulator approved final amendments to its TSR and included them in a final rule, the FTC said in a Wednesday […]
November 21, 2024
The FTC is refunding $1.9 million to victims of a “free” credit report scam. The refunds stem from a 2017 lawsuit by the Federal Trade Commission (FTC) against a company...
November 15, 2024
The Consumer Financial Protection Bureau (CFPB) is urging legislators and other policymakers to make reforms that it said would improve student loan servicing. The regulator wants to see borrowers held harmless...
November 07, 2024
The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7) by the Consumer Financial Protection...
