Latest U.S. Consumer Financial Protection Bureau News
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...
US agency says apps that let workers access paychecks before payday are providing loans
NEW YORK (AP) — The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees. ...
