CFPB Financial News
03.10 / 13:33
Target
Action
PayDay
Experts
Shell
social
2020
CFPB
Supreme Court case may gut the CFPB: Consumer watchdog's ‘future is on the line,’ group says
The Supreme Court is set to hear oral arguments Tuesday in a case with the potential to gut the Consumer Financial Protection Bureau, a watchdog agency created in the wake of the 2008 financial crisis.
07.09 / 20:15
Payments
regulation
Google
Apple
Apple Pay
Mobile Payments
CFPB
CFPB examines Big Tech’s role in mobile payment systems ahead of rulemaking
Big businesses are able to act as “mini-governments” and impose their own rules on payment infrastructure, Rohit Chopra, director of the United States Consumer Financial Protection Bureau (CFPB), said at a fintech conference hosted by the Philadelphia Federal Reserve Bank on Sept. 7. As Big Tech continues to innovate, small firms may be squeezed out of the space, he added.
03.08 / 17:21
11.07 / 16:31
CFPB
settlement
CFPB slams BofA with quarter-billion-dollar settlement
The Consumer Financial Protection Bureau has slugged Charlotte-headquartered Bank of America with a huge $250 million dollar settlement over the bank’s “consumer abuses.”
11.07 / 13:39
UPS
CFPB
Customer
Bank of America to pay $250 million for doubling up on fees and opening accounts without customer approval, CFPB says
Bank of America to pay $250 million for doubling up on fees and opening accounts without customer approval, CFPB says
20.04 / 08:51
CFPB
CFPB Says Staffer Sent 250,000 Consumers’ Data to Personal Account
WASHINGTON—A Consumer Financial Protection Bureau employee forwarded to a personal email account confidential information on thousands of consumers and dozens of financial firms, in what the agency has described to U.S. lawmakers as a major incident.
21.10 / 16:41
CFPB
Appeals Court Ruling Casts Shadow Over CFPB Activities
WASHINGTON—An appellate court ruling that the U.S. Consumer Financial Protection Bureau is unconstitutionally funded could undermine the agency’s work over its nearly 12 years of existence, legal experts said, including rules that ensure smooth functioning of the $13 trillion mortgage market.
20.10 / 17:13
PayDay
CFPB
CFPB Funding Method Found Unconstitutional by Federal Appeals Court
WASHINGTON—A federal appeals court found the U.S. Consumer Financial Protection Bureau is funded through an unconstitutional method, a ruling that threw out the agency’s regulation on payday lenders and struck a blow against how the agency operates.
23.08 / 18:31
Law
regulation
SEC
CFPB
regulatory
Certain regulatory clarity could be 'hugely detrimental' for crypto, says former CFPB director
Kathy Kraninger, former director of the United States Consumer Financial Protection Bureau, or CFPB, said while many in crypto have complained about the lack of regulatory clarity in the country, the legal gray area has afforded the industry opportunities.
20.07 / 14:57
Platform
CFPB
services
CFPB to Push Banks to Cover More Payment-Services Scams
WASHINGTON—The Consumer Financial Protection Bureau is preparing to prod banks to pay back more customers who are the victims of alleged scams on Zelle and other money-transfer services, according to people familiar with the coming regulatory effort.
02.12 / 01:01
Government
Law
Federal Reserve
CFPB
Reserve
Biden is considering law professor, Fed president, and former CFPB director to fill 3 seats on Federal Reserve: report
The White House has reportedly begun interviews for possible candidates to fill the empty seats on the Board of Governors of the Federal Reserve System in 2022.
30.10 / 00:15
business
Government
Blockchain
Mark Warner
CFPB
US Senator Hagerty to CFPB Director: Don’t Stifle Crypto Innovation
U.S. Senator Bill Hagerty (R-VA), who was elected in 2020 to represent Tennessee after a stint as Ambassador to Japan, spoke to newly appointed Consumer Financial Protection Bureau Director Rohit Chopra regarding cryptocurrencies in a banking committee hearing, saying “I just want to make certain as you exercise those oversight responsibilities that we don't stifle innovation in this arena.”
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