Consumer Financial Protection Bureau (CFPB News

Supreme Court to Hear Challenge to Consumer Protection Bureau’s Structure

The U.S. Supreme Court on Friday agreed to hear a challenge backed by President Donald Trump’s administration to the structure of a federal agency assigned to protect consumers in the financial sector that could undermine its independence from presidential interference. …

U.S. Consumer Agency Says Financial Complaint Database to Remain Public

The top U.S. consumer watchdog will keep consumer complaints against financial firms public despite pressure from the companies, but the agency said on Wednesday it will make changes to the way those complaints are filed. The decision to retain the …

Equifax’s $700 Million Data Breach Settlement Includes $300 Million for Consumers

Credit-reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday. The largest-ever settlement for a data breach draws to a …

Supreme Court Won’t Hear Challenge to Federal Consumer Agency But Others on Way

The U.S. Supreme Court on Monday turned away a Texas bank’s constitutional challenge to the structure of the U.S. Consumer Financial Protection Bureau, passing up a case that could have led to more presidential power over an independent agency that …

New Consumer Financial Protection Bureau Chief Outlines Priorities

The new head of the U.S. consumer financial watchdog on Tuesday said she intended to continue some of the work begun by her predecessor Mick Mulvaney, including a review of decades-old rules preventing lending discrimination against minorities. Industry and consumer …

Wells Fargo Seeks to Limit Payout for Faulty Auto Insurance Plan

Wells Fargo & Co. is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort. …

Santander Bank to Pay $11.8 Million to Settle Auto Loan, Insurance Claims

Santander Consumer USA Holdings Inc., a leading subprime auto lender, will pay $11.8 million to settle claims that it misled customers about the cost and terms of auto loans and insurance, a U.S. consumer watchdog said on Tuesday. Santander Consumer, …

Trump Administration Forms Financial Frauds Task Force

In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins. The inclusion of virtual tokens — along …

Federal Judge Rules Against Consumer Financial Bureau Structure

A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, forbidding the agency from suing a company that advances money to people awaiting settlement payouts. The decision by U.S. …

Wells Fargo to Pay $1 Billion Fine for Mortgage, Insurance Sales Abuses

Wells Fargo & Co. will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was …