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The Consumer Financial Protection Bureau is returning $1.8 billion in “illegal junk fees” to 4.3 million Americans impacted by a large credit repair scheme, the bureau announced Dec. 5 in a press release.
Data brokers selling sensitive consumer information are covered under the Fair Credit Reporting Act, according to a Dec. 3 proposed rule from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau recently finalized a rule to oversee the largest nonbanks offering payment wallet applications and digital funds transfers.
The Consumer Financial Protection Bureau recently fined Navy Federal Credit Union $95 million for charging illegal overdraft fees.
The U.S. Supreme Court has ruled the Consumer Financial Protection Bureau is constitutionally funded.
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.