CFPB Sues Walmart, Fintech for Illegally Opening Accounts December 23, 2024 By Paige Smith Walmart Inc. and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers of the world’s...
Consumer Watchdog Facing Curbs, Scrutiny Following Trump Win November 14, 2024 By Pete Schroeder and Tatiana Bautzer Bank executives and lawyers anticipate the incoming Trump administration to place significant limits on the U.S. Consumer Financial Protection Bureau...
Wells Fargo Will Pay $65M Penalty to New York Over Cross-Selling Practices October 23, 2018 By Hannah Levitt Wells Fargo & Co. will pay a $65 million penalty to New York state related to its cross-selling practices. The...
Some Banks Already Follow Consumer Bureau’s Softer Arbitration Policy September 14, 2017 By Lisa Lambert Senator Elizabeth Warren, who opposes efforts to dismantle a new rule allowing customers to sue financial companies in class actions,...
Ban on Consumer Mandatory Arbitration Clauses Faces Challenges July 20, 2017 By Lisa Lambert and Pete Schroeder A U.S. rule years in the making that was intended to restore consumers’ ability to band together to sue financial...
Consumer Protection Bureau Vows to Defend Mandatory Arbitration Ban July 14, 2017 By Lisa Lambert The political fissure between an Obama-appointed financial overseer and regulators hired by U.S. President Donald Trump is widening, with Consumer...
Banks Blast Rule Exposing Them to Consumer Class Actions July 11, 2017 By Lisa Lambert U.S. banks and credit card companies could be prevented from blocking customers from banding together to sue them under a...
House Passes Dodd-Frank Replacement on Party Line Vote June 9, 2017 By Lisa Lambert Republicans in the U.S. House of Representatives voted on Thursday to replace the 2010 Dodd-Frank Wall Street reform law, a...
House Committee Expected to Advance Overhaul of Dodd-Frank April 27, 2017 By Pete Schroeder A U.S. Congressional banking panel is moving to advance legislation that would overhaul how the government regulates the financial sector,...
Appeals Court to Rehear Constitutionality of Consumer Protection Bureau Structure February 20, 2017 By Lawrence Hurley and Lisa Lambert A U.S. appeals court said on Thursday it will reconsider an October ruling that the Consumer Financial Protection Bureau’s structure...