RSS
The Consumer Financial Protection Bureau plans to hire more technologists to continue researching emerging technologies, said Director Rohit Chopra and Chief Technologist Erie Meyer in a March 26 report.
Falsely advertising the speed or cost of sending remittance transfers can violate federal law, according to a March 27 circular from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau will propose rules this year to ensure data brokers follow the Fair Credit Reporting Act, Director Rohit Chopra said April 2.
An appellate court disallowed the relocation of a lawsuit challenging the Consumer Financial Protection Bureau’s late fee rule to Washington, D.C.
Artificial intelligence poses risks to the financial system, according to Consumer Financial Protection Bureau Director Rohit Chopra.
The Consumer Financial Protection Bureau fined U.S. Bank $37.5 million for knowingly allowing employees to illegally access customer credit reports and for opening checking, savings and credit accounts without permission for more than a decade.
After seeing a 20 to 25 percent loss in overdraft/NSF fees in 2021, small banks largely rebounded early this year. Midsize and large banks have yet to recoup those numbers.
Federal regulators fined Bank of America $225 million for mishandling the distribution of pandemic unemployment dollars and other public benefits.