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...The Consumer Financial Protection Bureau is proposing to cap overdraft fees at as low as $3, potentially saving consumers billions of dollars a year and stepping up US President Joe Biden’s war on so-called...
...Research by the Consumer Financial Protection Bureau showed that more than 80 per cent of the market for credit cards is controlled by 10 of the 4,000 banks that offer them, including Capital One and Discover...
...These revenues grew to more than $14bn in 2022 of the $130bn issuers charged consumers in interest and fees, according to the Consumer Financial Protection Bureau....
...The UK’s main financial regulator has said it will investigate banks’ practice of requiring personal guarantees from directors of some small businesses when they borrow money....
...The proposal issued by the Consumer Financial Protection Bureau on Tuesday would subject non-bank companies that offer digital payments to a regulatory scheme similar to that for banks or credit unions....
...Louise Baxter, a consumer protection expert and founder of the UK’s National Trading Standards Scams Team, said higher interest rates and other economic factors at the moment played into the hands of scammers...
...What is noteworthy is that Rohit Chopra, director of the Consumer Financial Protection Bureau, spoke and gave a set of recommendations for regulators’ future approach to payments policy....
...It is not just rising base rates that are to blame: credit card companies have increased the margin they add on to a record high, the Consumer Financial Protection Bureau found last month....
...It also created a muscular new federal agency — the Consumer Financial Protection Bureau (CFPB) — to implement and enforce both the new mortgage laws and other laws governing consumer financial products...
...In 2015, the US Consumer Financial Protection Bureau ordered two of Hankey’s companies, Westlake Services and Wilshire Consumer Credit, to collectively pay nearly $50mn in restitution and fines....
...A proposal by the Consumer Financial Protection Bureau to lower late fees for credit card payments risked raising costs for all consumers, Dimon said....
...The measures by the Federal Trade Commission and the Consumer Financial Protection Bureau announced on Wednesday have the potential to significantly alter how US companies display prices to shoppers....
...The US Consumer Financial Protection Bureau has proposed a new cap on charges for people going overdrawn. One challenge is that the term “junk fee” is hard to pin down....
...Since 1975, the Home Mortgage Disclosure Act has required banks to report mortgage lending by race and ethnicity, and the Consumer Financial Protection Bureau recently issued a rule that requires lenders...
...Disputes reported to the Consumer Financial Protection Bureau have risen over the last several years, from just over 300,000 in 2020 to almost a million in year to September 2022....
...Between 2019-21, volumes of such loans increased almost tenfold, according to the Consumer Financial Protection Bureau....
...In 2015, the US Consumer Financial Protection Bureau ordered two such companies, Westlake Services and Wilshire Consumer Credit, to pay nearly $50mn in combined restitution and fines....
...That is being made possible in the US by the Consumer Financial Protection Bureau under a new Personal Financial Data Rights rule that will, for the first time, guarantee Americans access to their data held...
...Bank of America will pay $250mn to settle charges over consumer abuses that include opening accounts for consumers without their consent, the Consumer Financial Protection Bureau said....
...Customers will be reimbursed roughly $100mn and Bank of America will pay $150mn in fines as part of the settlement announced on Tuesday with the Consumer Financial Protection Bureau and the Office of the...
...The US markets take a break on Monday for Martin Luther King Day, but then we’re back into the thick of earnings season with the tail-end of the big US bank reports and a clutch of results from non-financial...
...Nigerians are turning to expensive emergency loans to cover the cost of essentials, as the country’s economic woes push more people into poverty and fears grow of a consumer debt crisis....
...against fossil energy infrastructure.The Consumer Financial Protection Bureau is proposing to cap overdraft fees at as low as $3, potentially saving consumers billions of dollars a year and stepping up...
...Disney named a new chief financial officer on Monday. Five more top stories 1. The Consumer Financial Protection Bureau is planning to increase its oversight of technology companies....
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