Tag Archives: CFPB

Trump Appointee Halts CFPB Operations, Freezes Consumer Protections

Russell Vought

In a sweeping move that effectively paralyzes the Consumer Financial Protection Bureau (CFPB), Acting Director Russell Vought issued a series of directives Saturday night, bringing enforcement, supervision, and regulatory activities to a standstill. The move has sparked fierce backlash from consumer advocates and lawmakers, who accuse the Trump administration of …

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CFPB Sues Major Banks Over Fraud on Zelle Payment Platform

Zelle

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against America’s three largest banks—JPMorgan Chase, Wells Fargo, and Bank of America—alleging widespread failures to protect customers from fraud on Zelle, the popular peer-to-peer payment platform they co-own. The suit, which also names Zelle’s operator Early Warning Services LLC, claims …

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