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The Latest Breaking News from CFPB

Regulators target fees for consumers who are denied a purchase for insufficient funds

It's the latest salvo in the government's campaign against so-called "junk fees," which President Biden said last year harm "working folks" and drive up costs for consumers.

Need Help Digging Out of Debt? What You Can Do

Need Help Digging Out of Debt? What You Can Do

Beware of ‘debt relief’ services that sound too good to be true. There are other alternatives for helping you get a handle on your debt.

Bank Overdraft Fees Could Soon Drop Significantly

Bank Overdraft Fees Could Soon Drop Significantly

Consumer watchdog agency eyes dropping some overdraft fees to as low as $3, closing a loophole that it calls a 'massive junk fee harvesting machine.'

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What is the Securities and Exchange Commission and what does it do?

The Securities and Exchange Commission plays an important role in regulating the American economy by governing financial industries.

White House Proposes Reduction in Bank Overdraft Fees to

The White House proposes a reduction in bank overdraft fees to as low as , aiming to alleviate financial burdens on consumers living paycheck to paycheck...

CFPB Plans to Rein in Overdraft Fees Amid Banking Industry Opposition

Discover the intensifying debate over overdraft fees in America as the Consumer Financial Protection Bureau proposes rules to rein them in. Learn more here.

America’s big banks are hiding behind racial equity to avoid new capital standards–but refuse to disclose the demographics of their small business lending

By wrapping their arguments against capital standards under a cloak of racial equity, the banking lobby is preserving the status quo.

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Tech Giants Reject US Consumer Watchdog's Digital Wallet Oversight

Tech Giants Reject US Consumer Watchdog's Digital Wallet Oversight

Big Tech giants give a cheeky thumbs-down to US consumer watchdog's attempts to regulate digital wallets, raising eyebrows and shaking things up in the pay...

Missed payments, inaccurate statements, and long delays: The return of monthly federal student loan bills is going as well as everyone expected

Missed payments, inaccurate statements, and long delays: The return of monthly federal student loan bills is going as well as everyone expected

The past few months have been marked by headache after headache for federal student loan borrowers.

CFPB Shuts Down Medical Debt Collection Agency Over Several Violations

CFPB Shuts Down Medical Debt Collection Agency Over Several Violations

CFPB shuts down medical collection agency over violations including trying to collect unverified debts.

SCOTUS hears oral argument in constitutional challenge to SEC enforcement proceedings

The Checks and Balances Letter delivers news and information from Ballotpedia’s Administrative State Project, including pivotal actions at the federal and state levels related to the separation of powers, due process, and the rule of law.

Atlantic Union to Refund Consumers $5M In Overdraft Fees

Atlantic Union to Refund Consumers $5M In Overdraft Fees

Atlantic Union Bank must refund at least $5 million to people who were illegally enrolled in checking account overdraft programs, the CFPB says.

Amazon To Quit PayPal's Venmo in January

Amazon To Quit PayPal's Venmo in January

Amazon.com and Amazon mobile app users won't be able to use Venmo as a payment option starting next month.

Stocks Push Higher on Strength in Chip Stocks

Stocks Push Higher on Strength in Chip Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.07%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.19%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.43%. Stocks this morning are modestly higher, with the Dow...

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Sen. Robert Menendez, facing bribery charges, stumps bank CEOs by asking how much their firms paid in settlements for allegedly ripping off consumers

The indicted senator expressed staunch support for the CFPB, which is under a legal threat of its own.

The Guardian - US

Why this ex-collections agent wants to forgive US veterans’ medical debt

After helping dismiss $10bn for average Americans, Jerry Ashton moves toward a community dear to his heart

Bank of America Fined $12M for Reporting False Mortgage Data

Bank of America fined over routinely filing false mortgage lending data to the government, the CFPB says.

International Business Times

Bank of America To Pay $12 Million Fine For Inacurate Mortgage Data

The bank failed to accurately reported answers on demographic data that can be used to identify possible discriminatory practices, CFPB said.

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Toyota Financing Arm Fined $60 Million for Multiple Violations

Toyota Motor Credit operated a dead-end cancellation hotline, withheld refunds, and hurt consumers’ credit reports, the CFPB says.

Online Lender Enova Banned From Offering Short-Term Loans

Enova has agreed to pay a $15 million fine to settle charges, including illegally withdrawing funds from consumer bank accounts, the CFPB says.

Feds Fine Toyota $60M For Sketchy Lending Practices, False Credit Report Claims

Toyota Motor Credit allegedly made it difficult or impossible to cancel unwanted extras during financing, among other things.

Citi Fined For Denying Credit Cards To Armenian Americans

Citi to pay $25.9 million for discrimination issues including lying to Armenian Americans about why they were denied credit cards, CFPB says.

Your Favorite Payment Apps May Face Federal Scrutiny

A new payment app proposal would make PayPal, Apple Pay and more abide by some of the same rules as big banks and other financial institutions.

Bank Deposit Delays Impact Customers

Bank deposit delays after a processing error at Clearing House are still impacting customers.

The Independent UK

Citigroup discriminated against Armenian Americans, federal regulator says; bank fined $25.9 million

Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards, the Consumer Financial Protection Bureau said Wednesday

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