Consumer Financial Protection Bureau

  • California Oct 18, 2019

    Supreme Court to Hear Case on Consumer Financial Protection Bureau

    The Supreme Court is stepping into a yearslong, politically charged fight over the federal consumer finance watchdog agency that was created in the wake of the 2008 financial crisis. The justices agreed Friday to review an appeals court decision that upheld the structure of the Consumer Financial Protection Bureau. The agency has long been a target of conservative Republicans. The...

  • georgia Jul 22, 2019

    Equifax Data Breach Settlement: What You Should Know

    Equifax will pay up to $700 million to settle with the Federal Trade Commission and others over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people. The proposed settlement with the Consumer Financial Protection Bureau, if approved by the federal district court Northern District of Georgia, will provide up to $425...

  • georgia Jul 23, 2019

    What You Should Know About the Equifax Settlement

    Nearly 150 million people could be affected by the largest-ever settlement for a data breach.

  • Los Angeles Feb 19, 2019

    Sen. Elizabeth Warren Unveils Universal Child Care Plan in Glendale

    Massachusetts Sen. Elizabeth Warren Monday night unveiled her universal child care plan during what was billed as an organizing event for her campaign for the Democratic presidential nomination in Glendale.

  • California Nov 20, 2018

    Education Dept. Accused of Withholding Audit on Navient’s Unfair Student Loan Practices

    One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient Corp., the nation’s third-largest student loan servicing company. The conclusions of the 2017 audit, which until now have been kept from the...

  • San Francisco Nov 7, 2018

    New Advance Pay Service Hopes to Reduce Use of Predatory Payday Loans

    Americans take out roughly $50 billion in payday loans a year, each racking up hundreds of dollars in fees and interest. But a small and growing service that allows its users to take an advance on their paycheck might be giving the payday loan industry a run for its money. San Francisco-based financial technology company Even made headlines late last...

  • Donald Trump Aug 27, 2018

    Top US Student Loan Official Resigning, Says WH Betrayed Americans

    The government’s top official overseeing the $1.5 trillion student loan market is resigning in protest, citing what he says is the White House’s open hostility toward protecting the nation’s millions of student loan borrowers....
    Seth Frotman will be stepping down as student loan ombudsman at the end of the week, according to his resignation letter, which was obtained Monday by The...

  • Donald Trump Jun 17, 2018

    Trump to Nominate OMB Official to Lead Consumer Watchdog

    President Donald Trump intends to nominate an associate director at the Office of Management and Budget to lead the government’s consumer watchdog agency, the White House announced Saturday. In a statement announcing the decision, spokeswoman Lindsay Walters said Kathy Kraninger “will bring a fresh perspective and much-needed management experience” to the Consumer Financial Protection Bureau, which the administration has been...

  • law enforcement May 22, 2018

    Consumers Say Their Bank Accounts Were Hacked Through Zelle

    Zelle is supposed to make it easy and safe for you to send money to friends or relatives. But some consumers who never signed up for Zelle said strangers are using the service to steal money in a matter of seconds.

  • San Francisco Apr 19, 2018

    Wells Fargo Fined $1B for Mortgage, Auto Lending Abuses

    Wells Fargo will pay $1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant for widespread customer abuses. In a settlement announced Friday, Wells will pay $500 million to the Office of the Comptroller of the Currency, its main national bank regulator, as well...

  • Donald Trump Feb 27, 2018

    If You Have a Citibank Card, You Might Be Getting $200 Back

    Citigroup recently announced that it would issue refunds to some 1.75 million credit cardholders who had been charged interest rates that were too high. The refunds will total $335 million, or an average of $190 per account. Fixing the error was mandated by the CARD Act, legislation introduced almost a decade ago aimed at protecting bank customers, NBC News reported....

  • Ohio Nov 24, 2017

    Consumer Watchdog Head Names a Successor, and Trump Does Too

    The director of the Consumer Financial Protection Bureau resigned Friday and named his own successor, leading to an open conflict with President Donald Trump — who announced a different person as acting head of the agency later in the day.
    That means there are now effectively two acting directors of the CFPB, when there should only be one.

  • Donald Trump Nov 15, 2017

    Consumer Financial Protection Bureau Chief Who Sparred With GOP Plans to Resign

    Richard Cordray, the aggressive first director of the Consumer Financial Protection Bureau, plans to leave the agency by the end of the month, giving President Donald Trump a chance to appoint a replacement likely to be friendlier to the financial industry. Cordray was a holdover from the Obama administration, appointed to his position in 2013 for a five-year term. Under...

  • Donald Trump Oct 25, 2017

    White House Welcomes Senate Vote to Repeal Rule Letting Consumers Sue Banks, Credit Card Companies

    The White House is welcoming a congressional measure killing the ability of millions of Americans to band together to sue bank or credit card companies to resolve financial disputes in a major win for Wall Street. The Senate narrowly voted late Tuesday night to nullify the rule, with Vice President Mike Pence casting the final vote to break a 50-50...

  • Congress Sep 14, 2017

    FTC Probing Equifax After Massive Data Breach

    Equifax, already facing lawsuits in the wake of its disclosure last week that it exposed vital data like Social Security numbers of about 143 million Americans, is the subject of a Federal Trade Commission investigation as well, the federal agency told CNBC Thursday. The agency does not usually comment on investigations but did so because of the massive scope of...

  • Congress Sep 12, 2017

    New Lawsuits, Gestures to Customers in Equifax Data Breach

    Equifax faces new lawsuits and is trying to make new gestures to customers in the wake of its disclosure last week that it exposed vital data like Social Security numbers of about 143 million Americans....
    It’s already come under fire from members of Congress, state attorneys general, and customers....
    Here’s the latest on what you need to know about the...

  • New York Sep 11, 2017

    Getting Up to Speed on the Equifax Data Breach Scandal

    Equifax has been scrambling to explain itself since disclosing last week that it exposed vital data about 143 million Americans — effectively most of the U.S. adult population. It’s come under fire from members of Congress, state attorneys general, and people who are getting conflicting answers about whether their information was stolen....
    Here’s the latest on what you need to know...

  • Donald Trump Jul 14, 2017

    Guns, Churches and Immigrants: What’s in That Spending Bill?

    Out of the spotlight, a House panel has taken steps to help victims of gun violence, allow robust politicking from the pulpit, and prevent doctors in the District of Columbia from helping terminally ill people commit suicide. The Republican-led House Appropriations Committee passed a $20 billion spending bill Thursday to fund the Treasury Department, the Judiciary and other federal agencies.

  • Donald Trump Jun 8, 2017

    GOP-Run House Votes to Roll Back Post-2008 Financial Rules

    The Republican-led House approved sweeping legislation Thursday to undo much of former President Barack Obama’s landmark banking law created after the 2008 economic crisis that caused millions of Americans to lose their jobs and homes....
    The largely party-line vote was 233-186, as Republicans argued the rules designed to prevent another meltdown were making it harder for community banks to lend and...

  • Donald Trump May 12, 2017

    US Sen. Warren Speaks at UMass-Amherst Graduation

    U.S. Sen. Elizabeth Warren has taken a jab at President Donald Trump while urging University of Massachusetts-Amherst graduates to pursue issues they care about.

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