The Consumer Financial Protection Bureau (CFPB) is asking consumers and others about their experiences with credit cards. The information is to be used in a review of the industry that the CFPB does every other year, according to a Tuesday (Jan. 24) press release. “The...
Right out of the gate, the Consumer Financial Protection Bureau (CFPB) has had a busy 2023. The pace won’t slow as the year goes on, with small business lending, nonbank oversight, account fees and more in the crosshairs. The impact of possible fines, of new...
With a focus on fees, the Consumer Financial Protection Bureau (CFPB) may reshape cross-border payments, specifically the hundreds of billions of dollars in remittances that are sent overseas. The CFPB is mulling restrictions on the fees themselves that are charged on each transaction as workers...
America’s top consumer watchdog is reportedly looking to strengthen its rules for overseas money transfers. The Consumer Financial Protection Bureau (CFPB) is considering new restrictions on the fees charged by money-transfer companies for wiring money overseas, bureau officials told the Wall Street Journal (WSJ) Monday...
The CFPB says it has settled a lawsuit against a debt collection firm it accused of filing junk lawsuits against consumers. Assuming a judge approves the settlement, the agreement would bar the firm Forster & Garbus from filing any new lawsuit against a consumer unless...
A federal regulatory agency wants to take a closer look at nonbanks’ terms and conditions. The Consumer Financial Protection Bureau (CFPB) proposed a rule Wednesday (Jan. 11) that would require supervised nonbank financial companies to submit terms and conditions in their form contracts so that...
Each year, the Consumer Financial Protection Bureau issues a report on TransUnion, Equifax and Experian. And this year, as in the past, the three reporting bureaus are examined through the prisms of “improvements and deficiencies in the nationwide consumer reporting companies’ responses to consumer complaints,”...
The CFPB is urging consumer reporting companies to be mindful of users as they implement technology. In a Tuesday (Jan. 3) press release, the Consumer Financial Protection Bureau (CFPB) summarized its annual report on the companies’ responses to consumer complaints. The agency said in the...
The Consumer Financial Protection Bureau says money transfer service UniTeller failed to provide customer refunds. The CFPB has ordered the New Jersey-based company to refund customers $33,000, and pay a $700,000 penalty, the agency said in a Thursday (Dec. 22) news release. “Consumers paid fees...
