Tag: Consumer Financial Protection Bureau
Billions stored on digital payment apps may be unprotected, CFPB warns
WASHINGTON – The Consumer Financial Protection Bureau has published a consumer advisory on digital payment apps heavily used by consumers and businesses.
A CFPB analysis...
Citizens Bank to pay $9M penalty for unlawful credit card servicing
PROVIDENCE – Without admitting fault, Citizens Bank on Tuesday agreed to pay $9 million to settle allegations of failing to properly manage and respond...
CFPB warns banks against unilaterally reopening closed consumer accounts
WASHINGTON – The Consumer Financial Protection Bureau affirmed last week that a bank is in violation of federal law if it unilaterally reopens a...
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...
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