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Consumer Financial Protection Act
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Trump issues executive order targeting debanking
The order, mandates a crackdown on “debanking” and ends the use of reputational risk in regulatory oversight.
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CFPB backs down on state notification rule for CFPA action
Move follows significant public pushback and concerns over weakening regulatory coordination.
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CFPB sues Capital One for withholding $2 billion in potential savings account interest
The agency has accused the bank of underpaying savings account interest and misleading customers.
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Fifth Third Bank hit with order to pay $20m for opening fake accounts
CFPB charged bank over range of illegal activities centering on motor vehicle loans.
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BofA fined $150m for consumer abuses, including phone accounts, bogus fees
Bank of America, the second-largest US bank by assets, engaged in deceptive practices that hurt hundreds of thousands of its customers, regulators allege.