Tag Archives: CFPB

A sweeping effort by the Trump administration to fire more than 1,500 employees at the Consumer Financial Protection Bureau (CFPB) has been paused by U.S. District Judge Amy Berman Jackson, who expressed “deep concern” over the legality of the move and the administration’s apparent defiance of earlier court rulings. The …

The U.S. Senate voted Thursday to overturn a major consumer protection rule that would have capped most bank overdraft fees at $5, a move that consumer advocates say will cost American families billions each year. The nearly party-line 52–48 vote reversed a rule adopted in December by the Consumer Financial …

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 …

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 …