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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....
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...The Consumer Financial Protection Bureau is set to finalise a rule aimed at cutting credit card late fees, the latest move by the Biden administration to tackle anti-competitive behaviour across the US economy...
...It referred to a 2015 matter in which 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...
...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 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....
...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....
...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...
...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....
...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 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....
...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...
...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 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....
...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....
...Last month, the National Bureau of Economic Research published the most comprehensive — and striking — study yet, concluding that “double majors experience substantial protection against earnings shocks”...
...This unleashed a torrent of investigations of corporate power by the Federal Trade Commission, Department of Justice and the Consumer Financial Protection Bureau....
...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...
...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....
...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...
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