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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....
...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...
...“There’s no excuse for lying to your customers,” said then-CFPB director Richard Cordray in a statement at the time of the settlement....
...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...
...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...
...Marc FilippinoRichard Milne is the FT’s Nordic and Baltic bureau chief. Thanks, Richard. Richard MilneThanks very much....
...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....
...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....
...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....
...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...
...Interim finance director Javed Iqbal sold £250,000-worth of shares on February 12, taking advantage of the uplift in the share price on the back of the results....
...The rules form part of the Consumer Duty, UK regulations introduced last year, which require companies to meet higher standards of consumer protection....
...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...
...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....
...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...
...Among a number of other failings, HSBC also failed to produce finalised versions of annual reports required to be signed by its board of directors that confirmed compliance with the requirements of the deposit...
...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....
...suggested could become a requirement for US protection....
...“This supermarket megamerger comes as American consumers have seen the cost of groceries rise steadily over the past few years,” noted Henry Liu, director of the FTC’s bureau of competition....
...The request forms part of the watchdog’s Consumer Duty regulations, introduced last year, which require companies to meet higher standards of customer protection....
...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....
...Between 2019-21, volumes of such loans increased almost tenfold, according to the Consumer Financial Protection Bureau....
...The biggest providers of a type of add-on insurance for car buyers have agreed to pause selling the product after the UK financial regulator intervened over concern that consumers were not getting value...
...The new body, dubbed the Independent Football Regulator, will bring with it “stronger tests” for owners and directors of football clubs, DCMS said, but it will also have the power to remove those deemed...
...“The action we’re taking significantly increases the level of protection for people and puts the UK at the forefront of APP fraud protections globally,” said Chris Hemsley, PSR managing director....
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