RSSReport: 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.
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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.
Chopra: AI poses safety concerns in banking
Artificial intelligence poses risks to the financial system, according to Consumer Financial Protection Bureau Director Rohit Chopra.
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.
BofA fined $12 million for false mortgage data
The Consumer Financial Protection Bureau fined Bank of America $12 million for submitting false mortgage lending information to the federal government.
CFPB fines Toyota financing division $60 million
The Consumer Financial Protection Bureau fined Plano, Texas-based Toyota Motor Credit Corp., $60 million for preventing borrowers from canceling product bundles which increased their monthly car loan payments.
CFPB fines online lender Enova $15 million
The Consumer Financial Protection Bureau fined online lender Enova International $15 million for allegedly illegally withdrawing funds from customers’ bank accounts without permission.
CFPB seeking to regulate large fintech payment processors
The Consumer Financial Protection Bureau wants to supervise large nonbanks that offer digital wallets and payment applications.
CFPB fines Citi $25.9 million for alleged discrimination against Armenian Americans
The Consumer Financial Protection Bureau fined Citi $25.9 million and ordered the megabank to redress customers for allegedly discriminating against Armenian American credit card applicants over a period of six years.
Report: Credit card companies charged record fees last year
Credit card companies charged consumers more than $130 billion in interest and fees last year, according to a Consumer Financial Protection Bureau biennial report to Congress.
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