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CFPB Sues JPMorgan, Bank of America
CFPB sues America's largest banks for 'allowing fraud to fester' on Zelle
The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to protect customers from fraud on Zelle, the payment platform they co-own.
CFPB sues Zelle operator, major banks over failure to counter fraud
Three of the largest U.S. banks rushed the Zelle digital payment system to market "without implementing effective consumer safeguards," according to a lawsuit filed Friday by a federal government agency.
CFPB sues JPMorgan, Bank of America over alleged Zelle fraud
"Zelle became a gold mine for fraudsters, while often leaving victims to fend for themselves," the CFPB said.
NBC New York
1d
CFPB takes aim at ‘bait-and-switch' credit card rewards — consumers forfeit about $500 million worth each year
Now the
CFPB
is cracking down on what it calls “bait-and-switch” rewards programs. Credit card rewards can go a long way ...
Austin American-Statesman
2d
New CFPB tool aims to help consumers save money on credit cards and avoid rewards scams
Some credit card companies are illegally devaluing rewards points and airline miles, relying on fine print to cancel rewards ...
bankingdive
17h
Banks, trade groups seek injunction on CFPB overdraft rule
The same organizations that are suing the agency over its effort to limit overdraft fees to $5 filed court paperwork ...
JD Supra
16h
CFPB Eyes More Oversight of Major Consumer Payment Nonbanks
The CFPB adopted a final rule providing for increased oversight of certain companies offering consumer payment products like mobile apps and ...
3d
on MSN
Federal student loan forgiveness opportunities lost to those who refinance, CFPB warns
With the Federal Reserve's recent cuts to interest rates, more federal student loan borrowers are wondering if they should ...
5d
CFPB will distribute $1.8 billion to victims of credit repair ‘scheme’
Customers charged illegal fees by two of the largest credit repair firms will soon see a refund check, the Consumer Financial Protection Bureau announced.
JD Supra
16h
CFPB finalizes overdraft lending rule for “very large financial institutions”
On December 12, the CFPB issued a final rule, restricting the amount that certain financial institutions can charge for their overdraft service.
Sierra Sun Times
5d
Consumer Financial Protection Bureau (CFPB) Closes Overdraft Loophole to Save Americans Billions in Fees
Cap their overdraft fee at $5: Under this simple option, covered banks and credit unions could simply cap their fee at $5, ...
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Related topics
Zelle
Consumer Financial Protection Bureau
Wells Fargo
Bank of America
JPMorgan Chase
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