Latest U.S. Consumer Financial Protection Bureau News

Editorial Roundup: New England

Oct. 28, 2022 13:12 PM EDT

Hearst Connecticut Media. October 27, 2022. Editorial: 1,372 ticket discrepancies demand deeper probe into CT trooper scandal Don’t even try to keep score of the Connecticut State Police ticket scandal, because the scoreboard is broken. Discovering...

With Americans feeling pinched, Biden targets 'junk fees'

Oct. 26, 2022 15:39 PM EDT

NEW YORK (AP) — With time running out before the election, President Joe Biden highlighted his administration's push to crack down on so-called junk fees that banks and other companies charge their customers. The announcement comes after months of high inflation have eaten away at Americans'...

Kimberly Palmer: How to handle your medical bills

Oct. 03, 2022 09:44 AM EDT

When she was 19, writer Emily Maloney found herself facing about $50,000 in medical debt after hospital treatment for a mental health crisis. The debt followed her throughout her twenties, hurting her credit and leading to stressful calls from collection agencies. Her experience is...

Regions Bank to refund $141M for illegal overdraft fees

Sep. 28, 2022 17:51 PM EDT

NEW YORK (AP) — Regions Bank for a second time in a decade was found charging illegal overdraft fees, the government said Wednesday, in a settlement that will require the bank to repay $141 million to customers and pay an additional $50 million in fines. In an investigation, the...

As 'buy now, pay later' plans grow, so do delinquencies

Sep. 15, 2022 12:50 PM EDT

NEW YORK (AP) — Americans have grown fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers. Buy now, pay later loans allow users to pay for items such new sneakers, electronics, or luxury goods in...

Regulators try to stop unlawful nursing home debt collection

Sep. 08, 2022 17:21 PM EDT

WASHINGTON (AP) — Nursing homes and debt collectors are flouting a law that prohibits them from requiring friends and family of care home residents to shoulder the costs of the facilities, according to a federal report issued Thursday. The Consumer Financial Protection Bureau said...

Millennial Money: Why you should increase credit limits now

Sep. 06, 2022 07:37 AM EDT

Relying on a credit limit in a shaky economy is the equivalent of expecting a weak bridge to weather a storm and carry you to survival. It’s not uncommon for credit card issuers to minimize their risk by lowering credit limits or closing accounts when there’s potential for...