News – Page 4 – CFPB Journal

Report: Auto repossessions rate higher than before pandemic

The rate of auto repossessions was higher at the end of 2022 than before the pandemic, according to a Consumer Financial Protection Bureau report.

CFPB fines Block $175 million for Cash App fraud

The Consumer Financial Protection Bureau fined fintech Block $175 million after finding it allowed fraud to multiply on its financial services platform Cash App.

CFPB looks to increase privacy protections on large tech platforms

The Consumer Financial Protection Bureau announced two measures last week to provide privacy protections on large technology platforms.

CFPB strikes medical bills from credit reports

The Consumer Financial Protection Bureau banned credit reporting companies from including medical bills on credit reports and credit scores used by lenders.

CFPB sues Walmart, Branch Messenger for driver payment accounts

The Consumer Financial Protection Bureau recently sued Walmart and its fintech partner Branch Messenger for allegedly illegally opening deposit accounts for more than 1 million delivery drivers.

Judge upholds ban on CFPB’s credit card late fee proposal

A federal judge recently upheld the preliminary injunction against the Consumer Financial Protection Bureau’s proposed limit on credit card late fees to $8 per incident.

CFPB announces rule limiting overdrafts

The Consumer Financial Protection Bureau released a final rule Dec. 12 limiting the overdraft fees banks with more than $10 billion in assets can charge.

CFPB places Google’s payments division under supervision

The Consumer Financial Protection Bureau recently placed Google’s payments division under its supervisory authority, leading to a lawsuit from the company.

CFPB distributing $1.8 billion to consumers from credit scheme

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.

CFPB proposes stricter standards on data brokers

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.