SEC enforcement blitz targets 7 financial firms as Biden administration winds down The SEC disclosed 7 actions against alleged misbehavior with only three days left for the Biden administration. Fortune · Jan 17, 2025
Equifax slapped with $15 Million fine: Is your credit report at risk? The CFPB cited Equifax’s failure to investigate disputes and resolve errors as part of its crackdown on credit reporting. Fortune · Jan 17, 2025
Regulation, Prohibition, and Litigation: Joe Biden's Busy Lame-Duck Period Why should an unpopular president shape so much policy on his way out? Reason · Jan 17, 2025
Got a Capital One savings account? Here's what to do Capital One is under fire for offering paltry savings account rates to current customers. Here’s what you need to know. Fortune · Jan 17, 2025
Capital One Banking Outage Could Delay Some US Paychecks: When Will It Be Fixed? Capital One customers faced significant disruptions Thursday due to a widespread outage impacting online banking services. International Business Times UK · Jan 17, 2025
Block agrees to pay $120 million in refunds to resolve Cash App fraud The Consumer Financial Protection Bureau announced the order on Thursday in the waning days of the Biden administration. Fortune · Jan 16, 2025
Cash App Owner Hit With Over $100M Fine For Fraud And Customer Service Issues The U.S. Consumer Financial Protection Bureau found that Block, which is owned by Twitter founder, Jack Dorsey, failed to give adequate customer service–including the absence of live telephone agents–for customers to get assistance. International Business Times · Jan 16, 2025
Buy Now, Pay Later: The Debt Trap You Didn't See Coming Those who opt for BNPL actually have more debts than those who steer clear of this scheme. International Business Times · Jan 16, 2025
Overdraft fees could be capped at $5 thanks to a new CFPB rule The CFPB has been fighting “junk fees” for years, but whether the ruling will stick has yet to be seen. Fortune · Jan 16, 2025
Capital One Accused Of Cheating Consumers Out Of $2 Billion In Interest Earnings The Consumer Financial Protection Bureau announced Tuesday that it has filed a lawsuit against Capital One Bank for misleading customers about their savings account interest rates. International Business Times · Jan 14, 2025
CFPB Sues Capital One For Misleading High-Interest Savings Accounts CFPB lawsuit alleges Capital One misled customers on savings account rates, causing B losses. Top News · Jan 14, 2025
Capital One sued by US watchdog alleging bank cheated customers out of $2 billion A U.S. watchdog is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts — and “cheating” customers out of more than $2 billion in lost interest payments as a result The Independent UK · Jan 14, 2025
What is overdraft protection? Do you need it? Despite proposed changes to banking regulations, overdraft fees remain an expensive reality for many Americans. Here’s how to protect yourself. Fortune · Jan 14, 2025
Biden administration finalizes rule on medical debt - Roll Call The CFPB estimates $49 billion in medical bills will be removed from the credit reports of 15 million Americans under a new rule. Roll Call · Jan 8, 2025
Fortune · Jan 8, 2025 Experian in hot water: CFPB alleges 'sham' credit report Investigations The consumer watchdog alleges the credit reporting giant conducted inadequate error reviews, potentially harming millions of Americans.
Al Jazeera · Jan 8, 2025 US bans medical debt from credit reports as Biden nears exit Consumer Financial Protection Bureau says change will strike $49bn in medical debt from credit reports.
International Business Times UK · Jan 7, 2025 Harris Pushes to Remove Medical Debt from Credit Reports, Raising Credit Scores for 15M Americans Kamal Harris announced that a new rule will remove medical debt from all Americans' credit reports, improving their chances of being approved for a car, home, or small-business loan.
The Independent UK · Jan 7, 2025 How removing unpaid medical bills from credit reports could help consumers Lenders soon won't be able to consider unpaid medical bills as a credit history factor when they evaluate potential borrowers in the U.S. for mortgages, car loans or business loans
The Guardian - US · Jan 7, 2025 Biden administration bans medical debt from inclusion on credit reports Kamala Harris announces removal of billions in medical debt from credit reports of 15 million Americans
Fortune · Jan 7, 2025 Biden administration bars medical debt from credit scores The rules ban credit agencies from including medical debts on consumers’ credit reports and prohibit lenders from considering medical information in assessing borrowers.
Salon · Jan 7, 2025 Medical debt banned from credit reports The bills can make it difficult or impossible for people to get mortgages, car loans or small business loans
Fortune · Jan 7, 2025 Fintech Yendo aims to 'stamp out' payday lending with vehicle-backed credit card “The size of the U.S. population that is credit strapped is so much bigger than people realize. We’re trying to solve this.”
The Independent UK · Dec 24, 2024 Walmart accused of illegally forcing over 1 million of its drivers to open bank accounts Walmart called the lawsuit factually inaccurate and said the agency didn’t give the company a fair chance to present their case
International Business Times · Dec 24, 2024 Walmart Forced A Million Workers To Use Bank Accounts With Expensive 'Junk Fees' To Receive Paychecks: Feds The Consumer Financial Protection Bureau has filed a lawsuit against Walmart and financial services company Branch over employee accounts with expensive fees.
Latin Times · Dec 24, 2024 Walmart Forced a Million Workers to Use Bank Accounts with Expensive 'Junk Fees' to Receive Paycheck or Risk Losing Job: Lawsuit The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against U.S. retailer Walmart and financial services company Branch after it was reported that the former unlawfully opened Branch accounts with expensive deposit fees on behalf of its employees.