Latest U.S. Consumer Financial Protection Bureau News
JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil...
MrBeast's new show already faced controversy. Its new giveaway partner may bring more
NEW YORK (AP) — MrBeast's ambitious reality show, which the YouTube megastar hopes will expand his giant online reach and turn the corner on recent controversies, is already raising questions from consumer advocates over a partnership with a fintech company. Prime Video's Thursday...
Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge. The rule is part of President Joe Biden administration's campaign to reduce junk fees that hit consumers on everyday purchases,...
The White House is cracking down on overdraft fees
NEW YORK (AP) — The Biden administration has finalized a rule limiting overdraft fees banks can charge, as part of the White House's campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. President Joe Biden had called the fees, which can be as high as...
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...
