Tag Archives: CFPB

U.S. consumers burdened by medical debt received significant relief Tuesday as the Biden administration finalized a rule that will remove medical debt from credit reports. Set to take effect in March, the change will erase $49 billion in medical bills, benefiting approximately 15 million Americans. The rule, introduced by the …

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 …

Olivia Rosane, Common Dreams A Trump-appointed judge on Friday delivered a win for big banks when he granted the U.S. Chamber of Commerce a temporary injunction halting a Biden administration rule that would cap credit card fees at $8. The Consumer Financial Protection Bureau (CFPB) rule, which would have gone …

Bank of America, the second-largest bank in the United States, has been ordered to pay more than $100 million to customers and an additional $150 million in penalties for engaging in illegal practices. The Consumer Financial Protection Bureau (CFPB) conducted an investigation and found that the bank had harmed hundreds …

Casey Quinlan, Nevada Current As Americans continue to struggle with high credit card rates, the Consumer Financial Protection Bureau has proposed a rule to help lessen some of their financial burden — in the form of lower late fees. The new rule would limit late fees to $8. Currently credit …

The Consumer Financial Protection Bureau (CFPB) last week launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies. The federal agency, created in the wake of the 2008 financial crisis, is seeking consumers’ input on so-called junk fees …