A flurry of announcements and proposals from the Consumer Financial Protection Bureau in the weeks leading up to — and after — November’s election begs the question: With the agency under fire from the majority party — as Republicans have control of the presidency and...
The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series of negative ripple effects for those same consumers, as banks consider offsetting the impact of...
Nearly a week after a federal judge blocked a cap on “junk fees,” the Consumer Financial Protection Bureau is overhauling overdraft fee regulations for large financial institutions. The CFPB aims to close what it called an “outdated overdraft loophole” in lending laws, according to a...
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...
December 24, 2024
This year was marked by a steady drumbeat of regulations and rules — and requests from regulators for information and comments from financial services players — touching on everything from credit card late fees to data sharing. But 2025 seems more like a wild card. President-elect Donald Trump’s administration appears set to follow a course […]
December 12, 2024
The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series...
February 13, 2024
The adoption of external working capital solutions has surged among growth corporates — commonly referred to as middle-market firms — in North America. This trend is driven by these solutions’...
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...
December 12, 2024
Nearly a week after a federal judge blocked a cap on “junk fees,” the Consumer Financial Protection Bureau is overhauling overdraft fee regulations for large financial institutions. The CFPB aims to close what it called an “outdated overdraft loophole” in lending laws, according to a Thursday (Dec. 12) press release. The new rule, set to […]
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...
October 01, 2024
FinTech firm Chime says it has covered billions in overdrafts for its users. Through SpotMe, the banking app’s free overdraft feature, Chime’s members have received a collective $30 billion since 2019...
July 08, 2024
Discover debuted a new overdraft protection tool for its debit card customers. Balance+ offers fee-free discretionary overdraft coverage for day-to-day debit card transactions, according to a Monday (July 8) press...