America’s leading consumer finance watchdog is warning credit card companies not to devalue rewards points. The Consumer Financial Protection Bureau (CFPB) issued a policy circular Wednesday (Dec. 18) arguing that companies that devalue or cancel those points could be breaking the law. “Rewards program operators often assert their ability...
Grubhub will pay $25 million and make several changes to its operations to settle charges that it violated consumer protection and competition laws. The proposed settlement covers charges from the Federal Trade Commission (FTC) and the Illinois attorney general, the FTC said in a Tuesday...
The FTC has unveiled a rule blocking “bait-and-switch” pricing for hotels and concert tickets. Such tactics, the Federal Trade Commission (FTC) said Tuesday (Dec. 17) are used by the live-event ticketing and short-term lodging sectors to mask total prices and hide junk fees. “People deserve to know up-front...
A new regulatory report shows a variety of unlawful activity in America’s student loan market. The report, issued by the Consumer Financial Protection Bureau (CFPB) Monday (Dec. 16, covers violations connected to student loan refinancing, private lending and servicing, debt collection and federal loan servicing. “Companies break the...
January 17, 2024
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put forth a proposal Wednesday (Jan. 17) that would limit overdraft fees — in many cases, drastically so. In the release detailing the proposal, the CFPB […]
September 16, 2021
Nothing is as certain as death and taxes, they say. And when it comes to payments and credit innovations experiencing explosive growth, particularly buy now, pay later (BNPL) — perhaps...
August 25, 2021
As COVID-19 ebbs and flows and a sustainable re-opening for business and leisure remains shrouded in uncertainty, at least one thing has become clear; people everywhere are itching to pack...
December 02, 2019
Every merchant is looking for an edge – a way not only to make more money, but also to hit on fresh methods for building customer loyalty and trust. As...
December 19, 2024
The Consumer Financial Protection Bureau (CFPB) is monitoring the consumer financial marketplace to spot companies’ attempts to charge junk fees in new ways after the regulator cracked down on older methods. “As companies are stopped from charging many of these fees, people are facing new risks as companies experiment with new sketchy fee tactics, which are […]
December 18, 2024
America’s leading consumer finance watchdog is warning credit card companies not to devalue rewards points. The Consumer Financial Protection Bureau (CFPB) issued a policy circular Wednesday (Dec. 18) arguing that companies that devalue or...
December 17, 2024
Grubhub will pay $25 million and make several changes to its operations to settle charges that it violated consumer protection and competition laws. The proposed settlement covers charges from the...
December 17, 2024
The FTC has unveiled a rule blocking “bait-and-switch” pricing for hotels and concert tickets. Such tactics, the Federal Trade Commission (FTC) said Tuesday (Dec. 17) are used by the live-event ticketing and...
