Capital One two-day outage leaves customers in free-fall
It's been a bad week for Capital One. On Tuesday the Consumer Financial Protection Bureau filed a lawsuit against the bank, ...
JD Supra42m
New Action on No-Action Letters – CFPB Begins Accepting Applications Under Updated No-Action Letter Procedures
The US Consumer Financial Protection Bureau (CFPB) is giving no-action letters (NALs) a second chance. On January 8, 2025, the CFPB issued a ...
JD Supra1h
CFPB Reboots No-Action Letter and Sandbox Policies: A New Approach to Financial Innovation…Not
On January 3, 2025, the Consumer Financial Protection Bureau (CFPB) announced a comprehensive reboot of its No-Action Letter (NAL) and ...
Biden's CFPB Goes Down Swinging In Blitz Of Rules. But How Many Will Survive Trump?
Key Takeaways In the final days of Joe Biden's administration, the CFPB issued a flurry of new rules and regulations, ...
SEC enforcement blitz targets 7 financial firms as Biden administration winds down
The SEC disclosed 7 actions against alleged misbehavior with only three days left for the Biden administration.
Hoodline1h
Block's Cash App Ordered to Pay $175 Million by CFPB Over Fraudulent Transaction Handling
Cash App's parent company Block must pay up to $175 million after a CFPB crackdown on fraudulent transaction handling.
National Mortgage News2h
CFPB files amicus brief in home equity investment case
Legal arguments in this case hinge on whether products offered by HEI platforms should fall under the Truth in Lending Act.
American Banker2h
CFPB orders Equifax to pay $15 million for credit reporting errors
Equifax agreed to resolve allegations that it failed to conduct proper investigations of consumer disputes, ignored evidence ...
Bay Area company ordered to pay at least $75 million to wronged Cash App customers
Block, based in Oakland, was ordered Thursday to pay out at least $75 million to customers who had bad service experiences ...
CFPB fines Equifax $15 million for errors on credit reports
The Consumer Financial Protection Bureau fined Equifax $15 million for credit reporting errors. The CFPB alleged the credit ...
wdef.com3h
Cash App owner to pay up to $175 million for failing to protect customers from fraud, feds say
Cash App has been ordered by a federal agency to pay as much as $175 million because of repeated failures by the financial ...
Capital One lawsuit reveals how bank customers can get smart and get their money's worth
At a 0.5% APY, which Capital One offers on the original 360 Savings accounts, it produces even less. Some megabanks can offer savings accounts with rates as low as 0.01% or 0.02%, according to ...