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The Latest Breaking News from Rohit Chopra

Trump's Surprising Decision To Keep Consumer Watchdog In Place

Rohit Chopra's unexpected retention as head of CFPB under Trump administration raises speculation and anticipation.

Top News

The CFPB is investigating credit card interest rates

The CFPB is investigating credit APRs, and it wants consumers to comment on their rates, terms, and conditions.

Fortune

Block agrees to pay $120 million in refunds to resolve Cash App fraud

The Consumer Financial Protection Bureau announced the order on Thursday in the waning days of the Biden administration.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Capital One Accused Of Cheating Consumers Out Of $2 Billion In Interest Earnings

The Consumer Financial Protection Bureau announced Tuesday that it has filed a lawsuit against Capital One Bank for misleading customers about their savings account interest rates.

International Business Times

Biden administration finalizes rule on medical debt - Roll Call

The CFPB estimates $49 billion in medical bills will be removed from the credit reports of 15 million Americans under a new rule.

Roll Call

Walmart Forced A Million Workers To Use Bank Accounts With Expensive 'Junk Fees' To Receive Paychecks: Feds

The Consumer Financial Protection Bureau has filed a lawsuit against Walmart and financial services company Branch over employee accounts with expensive fees.

International Business Times

Walmart Forced a Million Workers to Use Bank Accounts with Expensive 'Junk Fees' to Receive Paycheck or Risk Losing Job: Lawsuit

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against U.S. retailer Walmart and financial services company Branch after it was reported that the former unlawfully opened Branch accounts with expensive deposit fees on behalf of its employees.

Latin Times

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JPMorgan Chase, BofA and Wells Fargo Sued For 'Festering' Fraud On Zelle

Federal regulators said the nation's largest banks failed to put safeguards in place for consumers, creating a "gold mine for fraudsters."

International Business Times

Trump will destroy the government agencies that most help working people

For all its supposed ‘populism’, the new administration will probably target offices that protect consumers

The Guardian - US

New rule would make it much harder for data brokers to sell your personal info

The Consumer Financial Protection Bureau hopes to regulate data brokers the same way it does credit bureaus and background check companies.

Tom’s Guide

CFPB's Future Uncertain: Bankers Anticipate Changes Under Trump Administration

Although the open banking regulation of the Consumer Financial Protection Bureau (CFPB) is intended to safeguard consumer rights, bankers anticipate changes under the Trump administration, which might curtail the agency's authority.

International Business Times

At the country’s biggest fintech conference, the U.S. election is the elephant in the room

CFPB’s Chopra gets rockstar welcome at Money20/20 just days after finalizing open banking rule

Fortune

US election: Why is Kamala Harris losing Indian American voters?

She could become the Indian American president. So why is she bleeding votes – to Trump’s advantage?

Al Jazeera

US Fines Apple And Goldman Sachs Over Apple Card

The United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone maker's credit card.

International Business Times

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news in one place.

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International Business Times

New 'Open Banking' Rule Enhances Consumer Choice, Simplify Switching Financial Services

The new rule aims to encourage competition and expand consumer choices, which is expected to lower loan prices and enhance customer service across the payments, credit, and banking sectors.

The Street

Retailers are no longer offering a popular service for free

Retail stores have found a new way to pad their profits at your expense.

The Independent UK

US agency says apps that let workers access paychecks before payday are providing loans

The Consumer Financial Protection Bureau says apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act

International Business Times

Biden Administration To Ban Medical Debt From Credit Reports

The rule is projected to raise affected individuals' credit scores by an average of 20 points, potentially enabling them to qualify for better loan terms and financial products.

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Roll Call

Biden rule would ban medical debt from credit reports - Roll Call

The rule aims to keep creditors from obtaining and using information about medical and dental debt to make credit eligibility determinations.

The Independent UK

Vindicated by Court, CFPB Director Chopra says bureau will add staff, consider new rules on banks

Since its creation roughly 14 years ago, the Consumer Financial Protection Bureau has faced lawsuits, political and legal challenges to the idea of whether the Federal Government’s aggressive consumer financial watchdog agency should be allowed exist at all

WEKU

The U.S. sharply limits how much credit cards can charge you in late fees

The Consumer Financial Protection Bureau issued a new rule Tuesday capping late fees on credit cards, a move designed to save customers an estimated $10 billion a year. Critics promised a lawsuit.

The Street

New U.S. rule limiting annoying credit card penalty could save Americans $10 billion

Credit card debt in the US has surpassed $1 trillion, and a new law passed by the government is attempting to help Americans struggling to pay credit card bills out a bit.

Roll Call

Biden touts rule to curb credit card fees that Republicans will seek to block - Roll Call

The CFPB's rule to curb late fees on credit cards is likely to encounter a Republican move on Capitol Hill to nullify it.

WEKU

Why a financial regulator is going after health care debt

The Consumer Financial Protection Bureau, created after the Great Recession of 2007-09, has increasingly started policing the health care system.

Kiplinger

Your Favorite Payment Apps May Face Federal Scrutiny

A new payment app proposal would make PayPal, Apple Pay and more abide by some of the same rules as big banks and other financial institutions.

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