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New regulations will limit bank overdraft fees. Many banks have already done so.

Dec 12, 2024
The banking sector has been moving away from charging overdraft fees for a few years now. CFPB scrutiny, along with the broader economy, has made it easier for banks to forgo that overdraft fee income.
Some major banks, like Citibank, have already thrown out overdraft fees entirely.
Spencer Platt/Getty Images

Buy Now, Pay Later platforms will soon be more regulated

May 22, 2024
The Consumer Financial Protection Bureau announced new rules today requiring companies like Afterpay and Klarna to investigate when customers dispute a charge, and issue refunds for returned products. They'll also have to provide periodic billing statements.
Rohit Chopra, director of the Consumer Financial Protection Bureau, speaks at a Senate hearing. The CFPB recently announced new rules for Buy Now, Pay Later firms that signal the CFPB will move toward treating them like credit card providers.
Michael A. McCoy/Getty Images

When it comes to crypto, it's buyer beware

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

"Buy now, pay later" can come with a cost, federal consumer watchdog says

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

Peer-to-peer payment use is growing. So are scams.

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

Here's why the CFPB is concerned about credit card late fees

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)

CFPB warns lenders of "tidal wave" of distressed mortgages

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

For public good, not for profit.

Financial watchdog expected to regain teeth under Biden

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

CFPB rolls back restrictions on payday lenders

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

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.
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