Today, the CFPB proposed a rule to curb excessive credit card late fees which cost American families about $12 billion each year. Typical late fees would be reduced from roughly $30 to $8 under this proposal.
CFPB has ordered the bank to pay ordered to pay a $1.7 billion civil penalty and more than $2 billion in redress to million of consumers.
U.S. Bank for illegally accessed customers’ credit reports and opened checking and savings accounts, credit cards, and lines of credit without customers’ permission.
The Consumer Financial Protection Bureau (CFPB) is a federal government agency that collects consumer complaints about credit cards, mortgages, bank accounts, student loans, consumer loans, credit reporting, money transfers, and debt collection
While some information about the investigation into the business credit card sale was already known, the consumer cards part is new.
Debt Collectors Will Soon Be Able to Contact You on Social Media The Consumer Financial Protection Bureau (CFPB) finalized a new rule today that will let debt collectors contact consumers not just by phone, as presently permitted, but also by email, text message, and even using platforms like Facebook, Instagram, and Twitter. The new rule…
Americans are filing a record-breaking number of complaints to the Consumer Financial Protection Bureau during the pandemic. Complaint levels are up 50% over the same time frame last year, from March to June 2019.
The Supreme Court ruled Monday, June 29, 2020, that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. CFPB is a consumer watchdog. It regulates consumer financial products and services under existing federal consumer financial laws
The Consumer Financial Protection Bureau has filed suit against Citizens Bank in Providence, Rhode Island. CFPB alleges violations of the Truth in Lending Act by the bank in multiple occasions.