Latest U.S. Consumer Financial Protection Bureau News
USDA bans school lunch fees for low-income families
NEW YORK (AP) — The U.S. Department of Agriculture announced that students eligible for free or reduced price school meals cannot be charged processing fees beginning in 2027. School districts currently work with processing companies to offer cashless payment systems for families....
Why you shouldn't store your money in payment apps
NEW YORK (AP) — Connor Tomasko grew up wary of credit cards. As she taught herself more about managing money, she realized that many people also have bad habits when it comes to payment apps. Tomasko, 31, a freelance software consultant in Chicago, understands why people appreciate...
US consumer watchdog moves to permanently ban Navient from federal student loan servicing
NEW YORK (AP) — The U.S. Consumer Finance Protection Bureau has filed a proposed order to permanently ban Navient from directly servicing federal student loans, which the agency says will put an end “years of abuse." Under terms of the Thursday order, which Navient agreed to...
US consumer watchdog finds that school lunch fees are taking a toll on parents
NEW YORK (AP) — Single mother Rebecca Wood, 45, was already dealing with high medical bills in 2020 when she noticed she was being charged a $2.49 “program fee” each time she loaded money onto her daughter’s school lunch account. As more schools turn to cashless payment...
Federal agency cracks down on a predatory lending practice that often hurts Somali Muslims
For years, Fartun Weli has been frustrated with the way low-income Somali Muslims in Minnesota have been targeted by shady home sellers edging their way into the community -- by exploiting a principle of Islam meant to protect the poor. Weli says many are refugee immigrants who know...
How to get relief from unexpectedly high medical bills
NEW YORK (AP) — Unexpectedly high medical bills are common in the United States, but there are ways to get relief. According to the Consumer Financial Protection Bureau, one in five Americans are affected by outstanding medical debt, for a total cost of $88 billion. In a 2022...
