New Consumer Protections for Prepaid Cards The Consumer Financial Protection Bureau is extending many of the financial protections of bank accounts to prepaid cards. New rules proposed Thursday by the federal regulator would require that prepaid card users be protected against fraudulent charges and provided with free monthly billing statements. Show More Summary
For the first time in its existence the Consumer Financial Protection Bureau took action against a so-called “buy-here, pay-here” vehicle dealer, ordering the company to pay $8 million and fix its egregious ways. The CFPB announced today...Show More Summary
The Consumer Financial Protection Bureau wants prepaid card users to have the same protections folks get when they bank
Americans are starting to use "reloadable" cards instead of checking accounts, and the Consumer Financial Protection Bureau is taking notice.
Getty Images Once known for a wide array of fees, the market for prepaid cards is changing as more companies dive in and the playing field evolves. On Wednesday, a day ahead of a Consumer Financial Protection Bureau hearing on new rules...Show More Summary
Lead by the American Farm Bureau Federation, the U.S. agriculture lobby has relentlessly pushed back against new Environmental Protection Agency proposed rules for improving U.S. water quality. Through their "ditch the rule" campaign...Show More Summary
New York, November 7, 2014--The Committee to Protect Journalists is deeply concerned by the revelation that a Federal Bureau of Investigation agent pretended to be an Associated Press reporter as part of a criminal investigation and calls on authorities to halt use of the tactic....
Hot of the heels of a report from the Consumer Financial Protection Bureau detailing how loan servicers trick consumers into paying more, top officials with the Department of Treasury implored the industry to fix their often nefarious...Show More Summary
Image Source/Getty Images When it comes to financial shenanigans, the top targets of senior citizens' complaints in this country are debt collectors, the Consumer Financial Protection Bureau reported Wednesday. Seniors commonly report...Show More Summary
As if we hadn’t said it enough, but debt collectors are the worst, especially when they use illegal tactics to pry money from older American’s living on fixed incomes. A new report from the Consumer Financial Protection Bureau shines light on the issues older consumers face when it comes to their financial well-being. According to the report [PDF… [More]
As if student loan borrowers needed more bad news, the Consumer Financial Protection Bureau released a report this week detailing how some student loan servicers have tricked consumers into paying higher fees and misrepresented balances...Show More Summary
The ACLU filed comments today with the FTC urging it and the Consumer Financial Protection Bureau to investigate whether big data is being used in online marketing in ways that are racially discriminatory. If companies are in fact engaging...Show More Summary
On the Web: Do You Have Another Credit Card, Mr. President? - New York Times - “My credit card was rejected,” Mr. Obama said at the Consumer Financial Protection Bureau, making small talk as he signed an executive order aimed at protecting Americans from identity theft and credit card fraud. Show More Summary
The Federal Bureau of Investigation is considering an array of new procedures that may modestly improve protections for whistleblowers, however, the Justice Department rejected a number of key reforms that “whistleblower advocates” have...Show More Summary
By Daniel Jennings: Warren Buffett might be the only person out there who actually likes Bank of America (NYSE: BAC). BOA is America's most hated bank, according to information compiled by the Consumer Financial Protection Bureau, or CFPB - the federal financial services watchdog. Show More Summary
The 1,888-page RESPA-TILA Integrated Mortgage Disclosures Rule issued by the Consumer Financial Protection Bureau and taking effect next year “isn’t a brain-eating zombie,” but “it certainly feels like a monster.” So say Ellie Mae’s Angela Cheek and John Haring in...
Dave Dayen has a piece in the Financial Times that explains another reason Republicans want the Consumer Financial Protection Bureau to fail: Because they can shut down bad banks in a way the Department of Justice can't: After This American...Show More Summary
Deep concerns about the Secret Service’s ability to protect the president have united lawmakers of both parties — but are also giving Americans another reason to lose trust in government. Washington Bureau Chief Jerry Seib discusses the concerns.
The hammer has fallen on captive automotive lenders, such as GM Financial, Ford Motor Credit and Toyota Financial Services: The Consumer Financial Protection Bureau began officially asserting its authority over them as the feds and the lenders battle over allegations of discrimination in the latter’s loan products. Show More Summary
Getty Images Two big banks have recently been caught collecting fees for services of dubious value to customers of their credit cards. The Consumer Financial Protection Bureau on Sept. 25 ordered U.S. Bancorp (USB) to return $48 million to 420,000 customers who held credit cards or loans with the bank. Show More Summary