The CFPB will collect more than $32 million in fines from First National Bank of Omaha over credit card practices the regulator found to be deceptive. The consumer protection agency found that the bank worked to push consumers into add-on services — services for which...
The Consumer Financial Protection Bureau has quantified the impact of getting rid of the class-action waivers in consumer financial contracts, which prevent customers from filing class-action lawsuits. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Wells Fargo may have recently announced a partnership with Amazon to give student loan borrowers a break, but when it comes to servicing its existing loans, the bank is falling short — big time. Get the Full Story Complete the form to unlock this article...
The Consumer Financial Protection Bureau (CFPB) announced on Friday (Aug. 19) the addition of new consumer experts from outside the federal government to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council and Academic Research Council — the four bodies that provide...
Income-driven repayment plans for federal student loan borrowers may not be as great as they are billed. That’s according to the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman, which released a report showing consumers complain of servicing problems that make it hard to get lower...
Controversy is swirling around a recent appointment to one of the top positions at the Consumer Financial Protection Bureau, and as American Banker reported on Wednesday (Aug. 17), the scrutiny revolves around the newly installed head of supervision and enforcement of fair lending. Get the Full Story...
Redlining refers to an unfortunate practice of the late 20th century when banks and realtors would conspire to make it harder for certain buyers – usually minorities – to buy homes, especially in certain areas. “Red lines” were drawn around specific areas which were deemed to be...
A proposition back in 2011 to close a loophole that enables drug cartels to move large sums of money across boarders using prepaid cards has been delayed but is not dead. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Consumers in the U.K. are apparently loyal to their banks, and that is apparently a bad thing according to the U.K. Competition and Markets Authority, the competition watchdog for the country. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
