RSSCFPB establishes supervisory authority over installment lender
The Consumer Financial Protection Bureau has established supervisory authority over installment lender World Acceptance.
Author Archives: CFPB Journal staff report
Survey: Large banks offer worse credit card interest rates, terms
Large banks are offering consumers inferior credit card terms and interest rates compared to their small bank and credit union peers, according to a Feb. 16 Consumer Financial Protection Bureau report.
CFPB ends foreclosure scam case with $12 million settlement
The Consumer Financial Protection Bureau recently settled a foreclosure scam case by reaching a $12 million settlement with Consumer First Legal Group LLC.
CFPB proposes banning NSF fees for instantly rejected transactions
The Consumer Financial Protection Bureau is proposing banning financial institutions from charging non-sufficient funds fees for transactions declined in real-time.
CFPB, state AGs sue debt relief company
The Consumer Financial Protection Bureau and seven state attorneys general sued New York-based debt relief services company Strategic Financial Solutions for allegedly running an illegal debt-relief enterprise
CFPB proposes changes to bank overdraft fees
The Consumer Financial Protection Bureau is looking to overhaul how banks and credit unions with more than $10 billion in assets determine overdraft expenses. The proposal, announced Jan. 17, includes two ways for banks and credit unions to determine costs. The CFPB also proposed banning the mandatory use of preauthorized electronic fund transfers to repay transactions paid into overdrafts by institutions that charge overdraft fees higher than a designated threshold.
CFPB cautions against faulty background check reports
The Consumer Financial Protection Bureau is cautioning credit reporting companies against sloppy credit file sharing practices and providing erroneous background check reports.
Report: Student loan holders facing long wait times, application delays
Student loan holders are reportedly facing several significant hurdles in paying off their student loans after repayments resumed in October.
CFPB: College-sponsored financial products offer higher fees
College-sponsored financial products often have higher fees and more restrictive terms and conditions compared to typical market products, according to a Consumer Financial Protection Bureau report.
CFPB fines Virginia bank $6.2 million for overdraft violations
The Consumer Financial Protection Bureau fined Atlantic Union Bank $6.2 million for allegedly illegally enrolling thousands of customers in checking account overdraft programs.
More articles: