Tag: Consumer Financial Protection Bureau
Buy now, pay later can make gift returns trickier
Shoppers who used “buy now, pay later” to help finance gifts this holiday season may soon encounter an unwelcome surprise: returns can be more...
Wells Fargo to pay $3.7B over consumer loan violations
WASHINGTON (AP) – Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers...
New proposal could put customers in charge of their financial data
If information is power, then banks and credit unions are in control.
That’s because every morsel of customer financial data, from spending patterns to credit...
Fraud, scam cases increasing on Zelle, Senate report finds
NEW YORK (AP) – Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report...
Why is money so confusing?
Managing money is an essential life skill, yet most U.S. adults would fail a financial literacy test. Consider the results of a survey meant...
CFPB sues Citizens over credit card errors
PROVIDENCE – The Consumer Finance Protection Bureau on Thursday filed a lawsuit in the U.S. District Court of Rhode Island against Citizens Bank N.A.,...
Freedom Mortgage settles violation charge with $1.8M fine
PROVIDENCE – One of the nation’s largest mortgage bankers, Freedom Mortgage Corp., has settled federal charges that it violated the Home Mortgage Disclosure Act...
CFPB to update regulations on debt collection
PROVIDENCE – The federal Consumer Financial Protection Bureau has issued a notice of proposed rule-making to modernize the “rules of the road” for debt...
Federal Reserve System reports annual net income exceeding $63B
PROVIDENCE – The Federal Reserve System’s estimated net income for 2018 is $63.1 billion, the Fed announced. The figure represents the combined profit of...
CFPB acting director calls agency ‘too powerful’
PROVIDENCE – In his first report as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is calling his agency “too powerful.”
Mulvaney, an...
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