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The Latest Breaking News from CFPB

Crypto-friendly Lawmaker Seeks Chairmanship Of House Financial Services Committee

Rep. Hill of Arkansas, a known crypto-friendly lawmaker, has joined the list of Republicans looking to replace the chair of the House Financial Services Committee.

International Business Times

New 'Junk Fee' Rule Caps Credit Card Late Fees At $8

New 'Junk Fee' Rule Caps Credit Card Late Fees At $8

The CFPB finalizes a credit card late fee rule expected to save customers $10 billion a year. The Chamber of Commerce threatens to sue.

The U.S. sharply limits how much credit cards can charge you in late fees

The U.S. sharply limits how much credit cards can charge you in late fees

The Consumer Financial Protection Bureau issued a new rule Tuesday capping late fees on credit cards, a move designed to save customers an estimated $10 billion a year. Critics promised a lawsuit.

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CFPB Slashes Credit Card Late Fees, Saving Billions

The rule is expected to save Americans over $10 billion in late fees each year, lowering the typical fee from $32 to $8.

International Business Times

Biden touts rule to curb credit card fees that Republicans will seek to block - Roll Call

The CFPB's rule to curb late fees on credit cards is likely to encounter a Republican move on Capitol Hill to nullify it.

Protect Yourself From AI Scams Targeting Older Americans

Learn how to protect yourself from AI-driven scams. Stay informed and vigilant to combat fraud effectively.

Why a financial regulator is going after health care debt

The Consumer Financial Protection Bureau, created after the Great Recession of 2007-09, has increasingly started policing the health care system.

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CFPB Report: Credit Card Interest Costs Consumers Billion Extra

CFPB Report: Credit Card Interest Costs Consumers Billion Extra

CFPB report reveals rising credit card interest rates costing consumers billion extra in interest charges, emphasizing the need for managing credit car...

Regulatory War on Credit Card Fees Targets Compounding Investment Returns

Regulatory War on Credit Card Fees Targets Compounding Investment Returns

Compound interest and the impact of compounding returns are explored in this informative article. It highlights the potential consequences of reducing late...

Bureaucrats Are Moving To Cap Bank Overdraft Fees, Which Will Hurt the People It's Meant To Help

Many who see overdraft protection as preferable to other short-term credit options will have fewer choices as some banks decide the service isn't worth offering anymore.

Manhattan DA Urges Payment Apps To Improve Security Features

Manhattan DA Urges Payment Apps To Improve Security Features

Incidents of payment app fraud and theft are on the rise and extend beyond NYC, Manhattan DA says.

Regulators target fees for consumers who are denied a purchase for insufficient funds

Regulators target fees for consumers who are denied a purchase for insufficient funds

It's the latest salvo in the government's campaign against so-called "junk fees," which President Biden said last year harm "working folks" and drive up costs for consumers.

Need Help Digging Out of Debt? What You Can Do

Need Help Digging Out of Debt? What You Can Do

Beware of ‘debt relief’ services that sound too good to be true. There are other alternatives for helping you get a handle on your debt.

Bank Overdraft Fees Could Soon Drop Significantly

Bank Overdraft Fees Could Soon Drop Significantly

Consumer watchdog agency eyes dropping some overdraft fees to as low as $3, closing a loophole that it calls a 'massive junk fee harvesting machine.'

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What is the Securities and Exchange Commission and what does it do?

The Securities and Exchange Commission plays an important role in regulating the American economy by governing financial industries.

White House Proposes Reduction in Bank Overdraft Fees to

The White House proposes a reduction in bank overdraft fees to as low as , aiming to alleviate financial burdens on consumers living paycheck to paycheck...

CFPB Plans to Rein in Overdraft Fees Amid Banking Industry Opposition

Discover the intensifying debate over overdraft fees in America as the Consumer Financial Protection Bureau proposes rules to rein them in. Learn more here.

America’s big banks are hiding behind racial equity to avoid new capital standards–but refuse to disclose the demographics of their small business lending

By wrapping their arguments against capital standards under a cloak of racial equity, the banking lobby is preserving the status quo.

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Tech Giants Reject US Consumer Watchdog's Digital Wallet Oversight

Big Tech giants give a cheeky thumbs-down to US consumer watchdog's attempts to regulate digital wallets, raising eyebrows and shaking things up in the pay...

Missed payments, inaccurate statements, and long delays: The return of monthly federal student loan bills is going as well as everyone expected

The past few months have been marked by headache after headache for federal student loan borrowers.

CFPB Shuts Down Medical Debt Collection Agency Over Several Violations

CFPB shuts down medical collection agency over violations including trying to collect unverified debts.

SCOTUS hears oral argument in constitutional challenge to SEC enforcement proceedings

The Checks and Balances Letter delivers news and information from Ballotpedia’s Administrative State Project, including pivotal actions at the federal and state levels related to the separation of powers, due process, and the rule of law.

Atlantic Union to Refund Consumers $5M In Overdraft Fees

Atlantic Union Bank must refund at least $5 million to people who were illegally enrolled in checking account overdraft programs, the CFPB says.

Amazon To Quit PayPal's Venmo in January

Amazon.com and Amazon mobile app users won't be able to use Venmo as a payment option starting next month.

Stocks Push Higher on Strength in Chip Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.07%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.19%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.43%. Stocks this morning are modestly higher, with the Dow...

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