America’s consumer watchdog says bank mergers are set to become much tougher to pull off. In an interview with Reuters Thursday (July 20), Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra said lenders should expect more scrutiny into mergers following this year’s banking crisis. “The ink on the rubber stamp has...
As financial services become more digital, consumer advocates on both sides of the Atlantic are taking notice. To that end, Didier Reynders, commissioner for justice and consumer protection of the European Commission, and Rohit Chopra, director of the U.S. Consumer Financial Protection Bureau (CFPB) announced Monday (July 17) they...
America’s consumer finance regulator has fined ACI Worldwide for processing more than $2 billion in unauthorized mortgage payments. The Consumer Finance Protection Bureau (CFPB) said Tuesday it had fined ACI $25 million over transactions that happened in 2021 and impacted close to half a million...
A federal court has ruled that FinTech Block must provide information to a regulator. The Consumer Financial Protection Bureau (CFPB) is seeking emails to and from Brian Grassadonia — the co-creator of Block’s Cash App payment platform — as part of an investigation into how Block handles customer complaints about fraud and...
April 04, 2017
There are no shortage of divisive topics in Washington D.C. these days; it would, in fact, be quicker and easier to make a list of topics that enjoy bipartisan agreement than to try and catalog all the individual differences. Judges, budgets, healthcare, regulation, the environment — pick a subject, find a bitter divide. But in a […]
May 14, 2024
Eleven years ago, Think Finance was named one of Forbes’ most promising companies. Now, the online lender is bankrupt, with the Consumer Finance Protection Bureau (CFPB) saying it defrauded hundreds of thousands of consumers. The bureau on Tuesday (May 14) announced it had distributed more than $384 million from its victims relief fund to about 191,000 consumers who, according to […]
July 20, 2023
America’s consumer watchdog says bank mergers are set to become much tougher to pull off. In an interview with Reuters Thursday (July 20), Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra said lenders should expect more...
July 17, 2023
As financial services become more digital, consumer advocates on both sides of the Atlantic are taking notice. To that end, Didier Reynders, commissioner for justice and consumer protection of the...
June 27, 2023
America’s consumer finance regulator has fined ACI Worldwide for processing more than $2 billion in unauthorized mortgage payments. The Consumer Finance Protection Bureau (CFPB) said Tuesday it had fined ACI...
