Consumer Financial Protection Bureau

CFPB’s Fee Focus May Reshape $626B Remittance Payments Industry
CFPB’s Fee Focus May Reshape $626B Remittance Payments Industry
January 17, 2023  |  CFPB

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...

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CFPB’s Next Target Is Cross-Border Payments
CFPB’s Next Target Is Cross-Border Payments
January 16, 2023  |  CFPB

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...

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Wells Fargo: Credit Card Revenues up 6% as Consumer Spending Remains Resilient 
Wells Fargo: Credit Card Revenues up 6% as Consumer Spending Remains Resilient 
January 13, 2023  |  Earnings

The $3.7 billion settlement with the Consumer Financial Protection Bureau (CFPB) hit Wells Fargo’s profits. But the bank’s management was sanguine Friday (Jan. 13) on digital...

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CFPB Claims Victory in Battle Against ‘Sketchy’ Debt Collection Suits
CFPB Claims Victory in Battle Against ‘Sketchy’ Debt Collection Suits
January 12, 2023  |  CFPB

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...

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CFPB Proposes Public Posting of Confusing ‘Terms and Conditions’ Clauses
CFPB Proposes Public Posting of Confusing ‘Terms and Conditions’ Clauses
January 11, 2023  |  CFPB

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...

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CFPB’s Recommendation for ‘Consumer Participation’ With Bureaus Demands Alternative Data
CFPB’s Recommendation for ‘Consumer Participation’ With Bureaus Demands Alternative Data
January 09, 2023  |  CFPB

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...

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CFPB and NY Attorney General Sue Auto Lender Credit Acceptance
CFPB and NY Attorney General Sue Auto Lender Credit Acceptance
January 04, 2023  |  Loans

Subprime auto lender Credit Acceptance Corp. is being accused of “setting borrowers up to fail.” The Consumer Financial Protection Bureau (CFPB) and the New York...

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CFPB Advises Consumer Reporting Companies to Improve Service
CFPB Advises Consumer Reporting Companies to Improve Service
January 03, 2023  |  CFPB

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...

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Consumer Financial Protection Bureau: UniTeller Failed to Refund Users
Consumer Financial Protection Bureau: UniTeller Failed to Refund Users
December 22, 2022  |  CFPB

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...

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