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BIZARRE: 10 | Mind Blowing Facts

Biden Administration Limits Overdraft Fees To Protect Consumers

Learn about the Biden administration's new rule targeting overdraft fees and its potential impact on consumers and banks.

Top News

The White House is cracking down on overdraft fees

The Consumer Financial Protection Bureau is capping the fees at $5 with a rule set to take effect in October 2025, if it isn't overturned by Congress or altered under a Trump administration

The Independent UK

Why the GOP hates this consumer agency

Elon Musk is leading another effort to "delete" the CFPB. It's complicated.

Salon

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read the most diverse news in one place.

Google is suing to block CFPB oversight over Google Pay, calling it 'government overreach'

Since Google Pay is no longer available in the US, Google doesn't think it deserves to be supervised.

Android Central

Cap on credit card fees rejected

Groups including the U.S. Chamber of Commerce lobbied against the regulation

Salon

Google sues US Consumer Financial Protection Bureau over federal supervision order for Google Pay

Google is unhappy with its federal supervision order from the Consumer Financial Protection Bureau.

TechRadar

New rule would make it much harder for data brokers to sell your personal info

The Consumer Financial Protection Bureau hopes to regulate data brokers the same way it does credit bureaus and background check companies.

Tom’s Guide

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Trump picks Republican mega-donor Warren Stephens as ambassador to UK

Investment banker has donated regularly to conservative causes although not always in favor of the president-elect

The Guardian - US

Elon Musk names financial watchdog government agency he wants to ‘delete’

Musk used a clip from ‘The Joe Rogan Experience’ to make the announcement

The Independent UK

Elon Musk calls to ‘delete’ US consumer finance watchdog

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)

The Guardian - US

Trump ally Elon Musk calls to ‘delete’ US consumer protection bureau

Musk, a confidant of the president-elect, is set to co-lead Trump’s newly created Department of Government Efficiency.

Al Jazeera

Musk wants to "delete" CFPB

The Consumer Financial Protection Bureau was created in 2008 to protect people from predatory financial practices

Salon

Consumer Financial Protection Bureau finalizes rule to supervise apps like Google Wallet

Big tech companies ended up creating "critical financial tool," hence why the CFPB wants oversight.

Android Central

CFPB's Future Uncertain: Bankers Anticipate Changes Under Trump Administration

Although the open banking regulation of the Consumer Financial Protection Bureau (CFPB) is intended to safeguard consumer rights, bankers anticipate changes under the Trump administration, which might curtail the agency's authority.

International Business Times

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TechRadar

US government agency warns workers of possible Chinese cellphone hacks

Cellphones should not be used for work-related purposes, as CFPB issues warning to staff in aftermath of Salt Typhoon attack against US telecommunications infrastructure.

Fortune

At the country’s biggest fintech conference, the U.S. election is the elephant in the room

CFPB’s Chopra gets rockstar welcome at Money20/20 just days after finalizing open banking rule

Fortune

Election warning: Zelle CEO says elderly users face high risk of political donation scams

With reports of elderly victims of political scammers on the rise, the payment giant that transacted $481 billion in the first half of 2024 says families need to get involved.

Kiplinger

A New Rule Will Force Banks to Protect Your Data

CFPB finalizes the "open banking," personal financial data rights rule boost competition and protect privacy.

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Kiplinger

Apple Card Fail: Apple and Goldman Sachs Fined $89 Million

The CFPB fined Apple and Goldman Sachs $89 million for the mishandling of transaction disputes and misleading iPhone purchasers about interest-free payment options.

International Business Times

US Fines Apple And Goldman Sachs Over Apple Card

The United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone maker's credit card.

The Independent UK

Apple and Goldman Sachs must pay $89 million for mishandling Apple Card transactions, CFPB orders

A federal regulator has ordered Apple and Goldman Sachs to pay a combined $89 million for deceiving consumers and mishandled Apple Card customers' transaction

International Business Times

New 'Open Banking' Rule Enhances Consumer Choice, Simplify Switching Financial Services

The new rule aims to encourage competition and expand consumer choices, which is expected to lower loan prices and enhance customer service across the payments, credit, and banking sectors.

Kiplinger

Even Political Rivals Agree That Medical Debt Is an Urgent Issue

About 100 million people in the U.S. are burdened by health care debt. Democrats and Republicans in statehouses around the country have been quietly working together to tackle the crisis.

Kiplinger

IRS Solar Tax Credit Payouts Soar as Scams Target Homeowners

Clean energy tax credits are paying off for many, but experts warn of increasing scams.

International Business Times UK

US Families Are Losing Money Over School Lunch Payments: How A Simple $2.50 Fee Turns Into A Staggering $100M Scam

Parents are swindled in a school lunch scam as they barely notice the processing fees when using the pre-paid system to cover their children's school lunches.

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