Consumer Financial Protection Bureau - Page 2 of 3

OPEN- MINDED:  Brian Azar, CEO and president of Pawtucket-based Coastal1 Credit Union, says a move to “open banking” as proposed by the Consumer Financial Protection Bureau could be good for institutions such as his. PBN PHOTO/ MICHAEL SALERNO

New proposal could put customers in charge of their financial data

Financial Services 12/09/2022

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

Economic Activity 10/03/2022

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?

Economic Activity 08/29/2022

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

Financial Services 01/31/2020

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

Financial Services 06/10/2019

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

Financial Services 05/13/2019

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

Financial Services 01/15/2019

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...

MICK MULVANEY, acting director of the Consumer Financial Protection Bureau, says the bureau is “too powerful” and is requesting Congress make changes that would effectively make the bureau less independent. / BLOOMBERG FILE PHOTO/ZACH GIBSON

CFPB acting director calls agency ‘too powerful’

Financial Services 04/10/2018

PROVIDENCE – In his first report as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is calling his agency “too powerful.” Mulvaney, an...

CFPB offers tools to help families save for future, unexpected expenses

Financial Services 03/06/2018

PROVIDENCE – The Consumer Financial Protection Bureau is highlighting a host of tools it provides for individuals and families to save for emergencies and...