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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 alleges 3 top U.S. banks failed to protect consumers from Zelle fraud
The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.
CFPB Takes on BoA, Wells Fargo and JPMorgan Chase Over Zelle Fraud
The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at the banks lost more than $870 million to fraud since Zelle's inception.
NBC New York
2d
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
3d
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
20h
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
19h
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 ...
6d
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
19h
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
6d
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
Wells Fargo
Bank of America
Consumer Financial Protection Bureau
JPMorgan Chase
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