Tag Archives: Consumer Financial Protection Bureau

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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Consumer Bureau Proposes A Ban On Foreclosures Until 2022

The Consumer Financial Protection Bureau is planning on banning foreclosures until 2022. According to the bureau, 3 million households are behind on their mortgage payments and almost 1.7 million will run out of their forbearance periods in September. “We are at really an unusual point in history,” Diane Thompson, a …

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