Today, the Consumer Financial Protection Bureau (CFPB) finalized new protections against overdraft fee abuses at the largest financial institutions, closing a decades-old loophole that allowed big banks to gouge their customers for an inexpensive service. The CFPB’s overdraft fee rule will reduce most overdraft fees from $35 per transaction down to $5, saving households in the United States $5 billion annually.
Today, the Senate Banking Committee will hold a hearing with Rohit Chopra, the director of the Consumer Financial Protection Bureau (CFPB), where lawmakers will hear testimony about the agency’s efforts to enforce and promote fairness, transparency, and competitiveness in the financial services that people rely on every day and hold accountable the Wall Street banks and financial predators that take advantage of vulnerable customers.
Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to shield consumers from unscrupulous data brokers that sell sensitive personal and financial information, a vital step in both protecting online privacy and limiting fraud.
A cap on junk fees could have saved consumers billions. Now, opposition from big Wall Street banks is costing consumers $317 each and every second.
Today, Americans for Financial Reform is launching the Wall Street Ripoff Counter that tallies the money consumers have lost since big banks managed to block a new consumer protection limiting credit card late fees in court.
The Public Company Accounting Oversight Board (PCAOB) finalized two proposals that would bring much-needed transparency to the audit industry to the benefit of investors and the broader public, for example, by requiring disclosure of partner and manager involvement, workload, and other details of individual audit engagements and firm-wide metrics.
Earlier today, the Consumer Financial Protection Bureau (CFPB) finalized a proposal that brings much needed oversight and supervision to large providers of digital wallets and payment apps, also known as peer-to-peer or P2P apps.
