September 13, 2024
Toronto-Dominion Bank will pay almost $28 million in fines and restitution after the Consumer Financial Protection Bureau said the lender shared inaccurate information about tens of thousands of US customers with consumer reporting companies. A CFPB investigation found the information …
July 11, 2024
Fifth Third Bank agreed this week to pay a $5 million fine for illegally forcing vehicle insurance onto borrowers who had coverage. Fifth Third also agreed to pay a $15 million fine for illegal sales practices. The Cincinnati, Ohio-based bank …
May 20, 2024
The U.S. Supreme Court’s decision safeguarding the Consumer Financial Protection Bureau—the nation’s consumer finance watchdog—earned plaudits from supporters of robust federal regulation. But their praise for the court may prove short-lived. Powered by its 6-3 conservative majority, the court has …
September 11, 2023
A federal judge has ruled that the U.S. Consumer Financial Protection Bureau (CFPB) does not have broad authority to tackle discriminatory banking practices, handing a win to financial industry groups that sued the regulator. The American Bankers Association, the U.S. …
May 25, 2023
Citizens Financial Group Inc. will pay $9 million and take other remedial measures to settle US Consumer Financial Protection Bureau allegations that the bank failed to adequately address credit-card disputes and fraud claims. The consumer watchdog alleged in a 2020 …
February 27, 2023
The U.S. Supreme Court on Monday agreed to decide whether the Consumer Financial Protection Bureau’s funding structure established by Congress violates the U.S. Constitution in a case that President Joe Biden’s administration has said threatens the agency’s ability to function …
December 21, 2022
The U.S. Consumer Financial Protection Bureau hit Wells Fargo & Co. with the watchdog’s largest ever civil penalty on Tuesday as part of a $3.7 billion agreement to settle charges over widespread mismanagement of car loans, mortgages and bank accounts. …
November 28, 2022
The federal Consumer Financial Protection Bureau (CFPB) and the New York attorney general have resolved years-long claims of deceptive practices in connection with cash advances offered to people on their settlement payouts from victim-compensation funds. Under the settlement, RD Legal …
September 1, 2021
Five years into scandals that have already cost Wells Fargo & Co. more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls. …
October 23, 2020
The U.S. Consumer Financial Protection Bureau (CFPB) on Thursday said it is seeking public comment on a proposal to modify rules governing the access and use of consumer financial data which is collected by a growing number of online financial …