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...Rohit Chopra, director of the Consumer Financial Protection Bureau, warned about the effects of large deals on competition and financial stability....
...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....
...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...
...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....
...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...
...Between 2019-21, volumes of such loans increased almost tenfold, according to the Consumer Financial Protection Bureau....
...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...
...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...
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...A: Larry Fink What generation of Johnson to run Fidelity is Abigail Johnson? A: Third How many computer screens did AQR’s Clifford Asness admit to smashing during the financial crisis?...
...In the US, research by the Consumer Financial Protection Bureau published in March found that buy now, pay later users were more likely to be highly indebted, though the regulator said it was unclear whether...
...The Consumer Financial Protection Bureau fined Wells Fargo $1.7bn — the largest civil penalty the watchdog has ever imposed — and ordered it to pay $2bn in redress to customers for mismanagement of mortgages...
...in consumer protection....
...The OBIE’s list of open banking network companies includes 93 account providers such as banks and other regulated financial firms, plus 257 third-party services providers....
...Rohit Chopra, director of the Consumer Financial Protection Bureau, told the Financial Times in July that his agency would “have to take a very careful look [at] the implications of Big Tech entering this...
...The US Consumer Financial Protection Bureau says financial institutions “are uniquely positioned to look out for older Americans”....
...In the US, loans made by Affirm, Afterpay, Klarna, PayPal and Zip increased from $2bn in 2019 to more than $24bn in 2021, according to the Consumer Financial Protection Bureau....
...The changes were a step towards a more international “twin peaks” model of financial regulation, with one agency covering market conduct and consumer protection and the other focused on financial system...
...The Consumer Financial Protection Bureau said the bank, the fourth-largest in the US by assets, must pay a $1.7bn fine for violating the law, as well as $2bn in redress for its customers for violations that...
...Just this week, the Consumer Financial Protection Bureau slammed Wells Fargo with a record-breaking $1.7bn fine....
...The BNPL boom, subprime credit and the legacy of 2008 With Christmas less than a week away, this final newsletter is looking at a legacy of the great financial crisis — the wariness among high street banks...
...Brian Byrnes, head of personal finance at investment app Moneybox, says he invested in a London distillery which put a third of the investors’ money behind the bar as a tab — an attractive offer....
...Everyone should read a 2020 working paper from the National Bureau of Economic Research, which estimates that almost one-third of any rise falls on consumers via higher prices, roughly the same “tax incidence...
...Our analysis of some of the world’s largest pension funds found that some hold as much as a third of their assets in illiquid alternatives....
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