Consumer Financial Protection Bureau
Federal Reserve Releases New Guidance for Bank Oversight In Move Praised by Industry
Michelle Bowman, the Fed's vice chair for supervision, said the principles will “sharpen” the central bank's focus and build “a more effective supervisory framework.” read more >
by Associated Press -
More US Consumers Are Falling Behind on Their Utility Bills
Past-due balances jumped 9.7% in the second quarter over the same period last year. read more >
by Associated Press -
Federal Judge Blocks Trump From Dismantling Consumer Financial Protection Bureau
U.S. District Judge Amy Berman Jackson agreed to issue a preliminary injunction that maintains the agency’s existence until she rules on the merits of a lawsuit seeking to preserve the agency. read more >
by Associated Press -
![U.S. Rep. French Hill has issued a list of 25 priorities to “Make Community Banking Great Again.” [photo provided]](https://dqndh7utxx63f.cloudfront.net/wp-content/uploads/2025/01/French_Hill404327545_902384757917406_8973079737088440338_n_opt-300x194.jpg)
Views From the Chair: French Hill’s Plans for Leading Financial Services Panel
U.S. Rep. French Hill, as chairman of the House Financial Services Committee, plans to reduce regulatory burdens for community banks while promoting innovation and transparency in finance. read more >
by Chloe McGehee -
Consumer Protection Agency Sues Walmart, Branch Alleging Illegal Pay Practices for Gig Drivers
Among the claims is that Walmart and scheduling platform Branch misled workers about the availability of same-day access to their earnings. read more >
by Associated Press -
Bank Groups Sue the Consumer Financial Protection Bureau Over a Proposed Cap on Overdraft Fees
The rule is part of President Joe Biden administration's campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. read more >
by Associated Press -
Buy Now, Pay Later Companies Must Adhere to Credit Card Standards, Consumer Agency Says
Two major buy now, pay later players — Affirm and Klarna — say they welcomed the regulation. read more >
by Associated Press -
Vindicated by Supreme Court, CFPB Director Says Bureau Will Add Staff, Consider New Rules on Banks
The bureau plans to address matters like pawn shops, medical billing, credit reporting and financial data issues through its rule-making authorities. read more >
by Associated Press -
Supreme Court Sides With The Consumer Financial Protection Bureau, Rejecting a Conservative Attack
While the U.S. Chamber of Commerce and some other business interests backed the payday lenders, mortgage bankers and other sectors regulated by the CFPB cautioned the court to avoid a broad ruling that could unsettle the markets. read more >
by Associated Press -
Biden Regulators Target Transaction-Declined Fees in Banking
It's the second major proposal by the Consumer Financial Protection Bureau over fees that Americans sometimes run into when they bank. read more >
by Associated Press -
Banks Prepare to Take On the Biden Administration Over Billions of Dollars in Overdraft Fees
NEW YORK (AP) — The squabble over billion of dollars in overdraft fees that Americans get charged every year is intensifying. The Consumer Financial Protection Bureau is expected to propose […] read more >
by Associated Press -
Jessica Rivera Named VP of Hospital Operations at Baptist Health NLR (Movers & Shakers)
She recently served as the CEO of Meridian Health in Houston, Texas. read more >
Biden Aims to Scrub Medical Debt From Credit Scores, Which Could Up Ratings for Millions
The agency said in a statement that including medical debt in credit scores is problematic because "mistakes and inaccuracies in medical billing are common." read more >
by Associated Press -
What New Lending Regulations Mean for Small Business Owners
As of Aug. 1, 2023, updates to the SBA's rules will allow for new, nonbank lenders to offer SBA 7(a) loans, as well as update restrictive lending criteria. read more >
by Associated Press -
Bank of America Hit With $250M in Fines and Refunds for ‘Double-Dipping’ Fees
It is one of the highest financial penalties in years against Bank of America, which has largely spent the last 15 years trying to clean up its reputation and market itself to the public as a bank focused on financial health and not on overdraft fee income. read more >
by Associated Press -
Money Stored in Payment Apps Could be Vulnerable, Financial Watchdog Warns
The alert comes several weeks after the failure of Silicon Valley Bank, Signature Bank and First Republic Bank, which all experienced bank runs after fearful customers with uninsured deposits pulled their money en masse. read more >
by Associated Press -
Banks’ Growing Reliance on Chatbots to Handle Customer Service Worries Consumer Watchdog
Poorly designed chatbots could run afoul of federal laws that govern how debts are collected or how personal information is being used. read more >
by Associated Press -
Gov’t to Start Looking for Bias in Small Business Lending
Banks will need to start reporting the demographics and income of small business loan applicants under new rules. read more >
by Associated Press -
Supreme Court to Hear Challenge to Consumer Agency
The case that could threaten how the watchdog Consumer Financial Protection Bureau functions. read more >
18% Drop Since 2020 in People With Reported Medical Debt
Still, unpaid medical bills account for more than half of all debt in collections. read more >
by Associated Press -
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