Customers make massive withdrawals after big asset losses. The Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation shut down the Silicon Valley Bank…
Read MoreConsumer Financial Protection Bureau
Administration Proposes Lower Credit Card Fees
Late fees would be capped at $8. The Consumer Financial Protection Bureau is proposing an update to the 2009 regulation from the Credit Card Accountability Responsibility and Disclosure…
Read More
Wells Fargo to Pay for Legal Violations and Mismanagement
Government bureau finds the bank mistreated millions of customers. The Consumer Financial Protection Bureau (CFPB) has ordered Wells Fargo Bank to pay restitution of over $2 billion to…
Read More
Federal Trade Commission Investigating Crypto Firms
Officials looking into allegations of deceptive conduct. The Federal Trade Commission said they have opened investigations into unspecified cryptocurrency firms over allegations of “possible misconduct.” The commission has received…
Read More
FTC Sues Vonage over Junk Fees
Commission submits court order requiring Vonage to refund $100 million. The Federal Trade Commission (FTC) has filed a court order against Vonage, alleging that they regularly use predatory…
Read More
Appeals Court Rules CFPB’s Funding Methods Unconstitutional
Decision is in opposition to previous rulings made by other courts. The Consumer Financial Protection Bureau (CFPB) is an independent federal agency that supervises banks and addresses complaints…
Read More
Supreme Court Hears Next Cases of the Week
Court looks at CFPB structure and SEC relief On Tuesday, the Supreme Court heard oral arguments in the cases of Seila Law LLC v. Consumer Financial Protection Bureau…
Read More