RSSCFPB proposes banning NSF fees for instantly rejected transactions
The Consumer Financial Protection Bureau is proposing banning financial institutions from charging non-sufficient funds fees for transactions declined in real-time.
Category Archives: News
CFPB, state AGs sue debt relief company
The Consumer Financial Protection Bureau and seven state attorneys general sued New York-based debt relief services company Strategic Financial Solutions for allegedly running an illegal debt-relief enterprise
CFPB cautions against faulty background check reports
The Consumer Financial Protection Bureau is cautioning credit reporting companies against sloppy credit file sharing practices and providing erroneous background check reports.
Report: 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.
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.
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 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.
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