CFPB-PR-241121-1 (11-21-24) (CFPB-PR-2411) CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking” – Final rule brings supervision to Big Tech and other widely used digital payment apps handling over 50 million transactions annually Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized […]
Category: CFPB-PR-2411
CFPB-PR-2411 – Press Releases in November, 2024 (GO)
CFPB-PR-241115-1 (11-15-24) (CFPB-PR-2411) CFPB Report Details Student Borrower Harms from Servicing Failures and Program Disruptions – Analysis of 18,000 borrower complaints reveals payment processing errors, inaccurate bills and repayment information, and unhelpful customer service Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released the annual report of the CFPB Student Loan Ombudsman, highlighting the severe difficulties […]
CFPB-PR-241114-1 (11-14-24) (CFPB-PR-2411) CFPB Orders Global Tel Link to Pay $3 Million for Illegally Freezing and Draining Payments Accounts for People Who Are Incarcerated – Company profited by taking funds from inactive accounts and blocking money transfers from friends and family used to pay for basic needs Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection […]
CFPB-PR-241113-2 (11-13-24) (CFPB-PR-2411) CFPB Survey Reveals Impacts of Student Loan Debt Relief and Repayment Challenges – Debt relief recipients report being able to make beneficial changes in their lives; many borrowers still unaware of repayment options Excerpt: WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) issued its first results from its Student Loan Borrower […]
(CFPB-PR-241113-1) (11-13-24) (CFPB-PR-2411) CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets – Lenders less likely to encourage Black entrepreneurs and more often steer them toward alternative financing Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a study revealing significant disparities in how lenders treat Black and white small business […]
( CFPB-PR-241112-1 ) (11-12-24) (CFPB-PR-2411 ) CFPB Report Details Carveouts for Financial Institutions in State Data Privacy Laws – Gaps in consumer protections pose risks as companies increasingly build business models to make money from personal financial data Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a report examining federal and state-level privacy protections for consumers’ […]
( CFPB Press Releases – Article ) ( Articles ) ( CFPB Press Releases ) CFPB Press Releases (CFPB-Info) Introduction The Consumer Financial Protection Bureau (CFPB) is an essential agency in the United States that focuses on protecting consumers in the financial sector. One of the key methods the CFPB uses to communicate its activities and initiatives is through Press Releases. […]
( CFPB-PR-241107-1 ) (11-07-24) (CFPB-PR-2411) CFPB Orders Navy Federal Credit Union to Pay More Than $95 Million for Illegal Surprise Overdraft Fees – Agency bans nation’s largest credit union from charging certain overdraft fees going forward Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action against Navy Federal Credit Union for charging […]
( CFPB-PR241101-1 ) (11-01-24) (CFPB-PR-2411) CFPB Takes Action to Address Townstone Financial’s Unlawful Redlining – Settlement follows a significant victory for the CFPB and its fair lending authority in the U.S. Court of Appeals for the Seventh Circuit Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order to resolve its case against Townstone […]