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...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...
...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...
...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....
...The writer is a former chair of the US Federal Deposit Insurance Corporation and author of the ‘Money Tales’ books I am a former financial regulator. I also write children’s books....
...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...
...Some think deposit insurance is a consumer protection tool, like limits on credit card fraud losses....
...Charging a small insurance premium to guarantee deposits that exceed the Federal Deposit Insurance Corporation’s current $250,000 insurance cap, Peltz believes, “should stop the deposit outflow from the...
...The consumer price index rose 6 per cent year on year last month, following a 0.4 per cent increase from the previous month, the Bureau of Labor Statistics said on Tuesday....
...Just this week, the Consumer Financial Protection Bureau slammed Wells Fargo with a record-breaking $1.7bn fine....
...The Federal Deposit Insurance Corporation estimates that US banks’ unrealised losses on securities were $620bn at the end of 2022....
...In the US, in particular, consumer protections are better. The Consumer Financial Protection Bureau has been a huge plus. In the mortgage space at least, we have much more resilient homeowners....
...Consumers are facing higher goods and services costs, higher energy costs and falling real wages — and that’s before they face higher mortgage costs as fixed-rate mortgages at very low interest rates roll...
...set to expire The decision comes after a rift between the top leadership at the FDIC, which insures deposits held at the nation’s lenders, and the Consumer Financial Protection Bureau, which serves as...
...Sheila Bair, former chair of the US Federal Deposit Insurance Corporation, writes in the FT that the current Federal Reserve leadership should take lessons from its former chair Paul Volcker and his successful...
...Truss eventually set out plans to reverse Sunak’s increase in corporation tax and national insurance, at a cost of about £30bn....
...CFPB crashes BNPL party The Consumer Financial Protection Bureau, the US consumer watchdog, last week ordered five of the largest “buy now, pay later” firms to turn over information about their operations...
...(FT) The day ahead Confirmation hearings President Joe Biden’s choices to run the Securities and Exchange Commission and Consumer Financial Protection Bureau — Gary Gensler and Rohit Chopra, respectively...
...In 1990 there were 13,568 community banks, according to the Federal Deposit Insurance Corporation. By the first quarter of 2020, there were only 4,624....
...The Fed and the OCC were joined in the statement by the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, the National Credit Union Administration and the Conference of State...
...Hello from DC, where coronavirus has truly taken hold, and your FT bureau has taken to working from home like most of the city....
...The group’s pre-tax losses widened from £164m to £232m in the year to September as costs tied to the payment protection insurance scandal rose. It doesn’t pay a dividend....
...Institutions such as Daiichi Life, a Japanese insurance company, and individual investors have invested in the bonds....
...For example, mortgage lending tends to be viewed as safe, and mortgage oriented banks reflect that in their (usual) valuation premia....
...Negative rates may be necessary to help support the flow of credit to non-financial corporations. But much of the heavy lifting will have to be done by fiscal policy....
...(WSJ, NYT) Tobacco should learn from PPI As the cost of the payment protection insurance scandal climbs past £50bn, another potential consumer problem is emerging: lung illnesses that appear linked to vaping...
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