CFPB
Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.
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The rule, which is not due out until 2024, will promote competition among financial institutions and data aggregators, Consumer Financial Protection Director Rohit Chopra said at a fintech conference.
October 26 -
New Consumer Financial Protection Bureau guidelines say overdraft fees "that a consumer would not reasonably anticipate" could be illegal. President Biden and CFPB Director Rohit Chopra promoted them at a press briefing Wednesday.
October 26
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The Alabama bank must pay $191 million in connection with charges it levied on customers whose account balances went negative before a transaction was posted. Seven years ago, the CFPB imposed a $7.5 million overdraft-related fine on Regions.
September 28 -
AB - Policy & RegulationThe comptroller, Brad Lander, asked U.S. Bank to outline the number of fake accounts the bank opened for New Yorkers.
September 28 -
The remittance provider claims the Consumer Financial Protection Bureau worked to ensure it could file the case in a venue that would be more receptive to its claims.
August 11 -
The Consumer Financial Protection Bureau sent a mass email to thousands of the bank's customers and former employees to gather information about the possible creation of phony accounts. Critics — including a federal judge — say the CFPB asked leading questions and may have overstepped its bounds.
June 14 -
The Consumer Financial Protection Bureau is in the early stages of developing a rule that could give bank customers far more say in how their information is being accessed by fintechs and data aggregators. What the final rule looks like will depend on how much consumers already know about the way their data is collected, stored and sold.
January 25
