Sam Wilmes – Page 2 – CFPB Journal

CFPB: Fair Credit Reporting Act proposal coming this year

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.

Court keeps CFPB late fee lawsuit in Texas

An appellate court disallowed the relocation of a lawsuit challenging the Consumer Financial Protection Bureau’s late fee rule to Washington, D.C.

Chopra: AI poses safety concerns in banking

Artificial intelligence poses risks to the financial system, according to Consumer Financial Protection Bureau Director Rohit Chopra.

U.S. Bank fined $37.5 million for account fraud

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.

CFPB: Overdraft revenue rebounded at small banks early this year

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.

Bank of America fined $225 million

Federal regulators fined Bank of America $225 million for mishandling the distribution of pandemic unemployment dollars and other public benefits.