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CFPB

When it comes to crypto, it's buyer beware

by Nancy Marshall-Genzer
Nov 11, 2022
The Consumer Financial Protection Bureau (CFPB) has released a new bulletin of consumer complaints about crypto.
The Consumer Financial Protection Bureau has received more than 8,000 complaints about crypto in the past four years.
Michael M. Santiago/Getty Images
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"Buy now, pay later" can come with a cost, federal consumer watchdog says

by Savannah Maher
Sep 19, 2022
The CFPB says delinquencies and late fees add up and recommends tighter regulation of loans in line with the credit card industry.
Buy now, pay later services can be risky for consumers, who aren't always well-informed of the penalties for missed payments.
Spencer Platt/Getty Images
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Peer-to-peer payment use is growing. So are scams.

by Stephanie Hughes
Jul 20, 2022
The Consumer Financial Protection Bureau will reportedly push banks to reimburse customers who lose their money through scams on apps like Paypal, Venmo and Zelle.
Payment apps haven’t disclosed how much consumers have lost from scams, but Lisa Ellis with MoffettNathanson estimates it’s around $10 billion.
Justin Sullivan/Getty Images
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Here's why the CFPB is concerned about credit card late fees

by Justin Ho
Jun 23, 2022
Credit card companies can change their fees based on inflation.
The limit on credit card late fees changes to allow for inflation.
Olivier Douliery/AFP via Getty Images)
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COVID-19

CFPB warns lenders of "tidal wave" of distressed mortgages

by Kimberly Adams
Apr 5, 2021
But homeowners are in a better position to avoid foreclosure than they were in the last crisis.
As of January, more than 2.7 million people were still in the programs to put mortgage payments on hold during the pandemic, the Consumer Financial Protection Bureau says.
Nicolas Kamm/AFP via Getty Images
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Financial watchdog expected to regain teeth under Biden

by Mitchell Hartman
Dec 18, 2020
Under President Trump, the Consumer Financial Protection Bureau relaxed rules on payday lending and debt collection.
Consumer advocates want to see the CFPB under Biden tighten rules on payday loans, bank fees and credit report errors.
Roberto Schmidt/AFP via Getty Images
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CFPB rolls back restrictions on payday lenders

by Samantha Fields
Jul 9, 2020
Lenders will not have to verify whether borrowers have the ability to pay back high-interest loans
About 12 million Americans take out payday loans every year, mostly to cover necessities like rent or utilities.
EHStock via Getty Images
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For public good, not for profit.

COVID-19

Coronavirus pushes up demand for financial literacy, but money to pay for it is tight

by Nancy Marshall-Genzer
Apr 22, 2020
The federal agency has a $1.2 billion fund to pay fraud victims, but can also use it for financial literacy programs.
Seventy five percent of businesses that responded across all sorts of industries say costs for materials have been rising in the last few months.
Alex Wong/Getty Images
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With the CFPB's future uncertain, New York and other states want to step in

by Justin Ho
Mar 5, 2020
Some states are stepping up their plans to regulate the debt collection industry. Consumer advocates say the moves come at a time when Federal protections are weakening.
Gov. Cuomo announced a plan to crack down on fraud with additional oversight of the debt collection industry.
Scott Heins/Getty Images
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CFPB is taking a fresh look at bank overdraft fee rule

by Renata Sago
Jul 2, 2019
The Consumer Financial Protection Bureau is reviewing a 2009 rule that regulates how banks charge customers who overdraw their checking accounts.
Saul Loeb/AFP/Getty Images
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