Oct 11 WATCH: Biden says the proposed FTC ban on junk fees will help families and ‘honest’ businesses By Josh Boak, Associated Press President Joe Biden on Wednesday announced a proposed rule by the Federal Trade Commission to ban any hidden and bogus junk fees, which can mask the total cost of concert tickets, hotel rooms and utility bills. Continue reading
Oct 03 LISTEN: Supreme Court hears arguments on constitutionality of federal consumer protection body By Mark Sherman, Associated Press The Supreme Court on Tuesday seemed likely to preserve the work of the Consumer Financial Protection Bureau against a conservative-led challenge. Continue reading
Jun 06 Customer service chatbots used by banks raises concerns for consumer watchdog By Ken Sweet, Associated Press The regulator says poorly designed chatbots could run afoul of federal laws that govern how debts are collected or how personal information is being used. Continue reading
Jun 05 Federal watchdogs advise against storing money in payment apps, say those funds may be vulnerable By Ken Sweet, Associated Press Money stored on a payment app is not being held in a traditional bank account. So, if there is an event similar to a bank run with the payment apps, those funds may not be protected. Continue reading
Feb 14 White House reports nearly 18 percent drop in people with medical debt By Josh Boak, Associated Press Among the programs they say contributed to less debt was an expansion of the Obama-era healthcare law that added 4.2 million people with some form health insurance. Continue reading
Dec 20 Wells Fargo to pay $3.7B over consumer loan violations that affected millions of customers By Associated Press Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts. Continue reading
Oct 21 Regulator seeks transparency for payment systems of big tech By Ken Sweet, Associated Press In its first significant action under a new director, the Consumer Financial Protection Bureau is ordering Apple, Amazon, PayPal and other tech giants to reveal how their proprietary payment networks function. Continue reading
Mar 02 WATCH: Biden choice for watchdog agency makes debut in nomination hearing By Ken Sweet, Associated Press Chopra would be the third permanent director of the Consumer Financial Protection Bureau. He previously worked at the watchdog agency in its early days as the top official on student loan issues and is currently a Democratic commissioner on the… Continue reading
Jun 29 Supreme Court makes it easier for president to remove Consumer Financial Protection Bureau head By Jessica Gresko, Associated Press The high court on Monday struck from the law that created the agency restrictions on when the president can remove the bureau's director. Continue reading
Mar 03 Supreme Court debates presidential power to fire heads of agencies By Jessica Gresko, Associated Press WASHINGTON (AP) — The Supreme Court wrestled Tuesday with whether to make it easier for the president to fire the head of the agency that enforces federal consumer financial laws, a decision that could ultimately impact a vast range of… Continue reading