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FDIC proposes tougher recordkeeping rules on fintech partners
Under the proposed rule, banks working with fintech companies would need to identify the beneficial owners of each account and its balance.
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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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CFPB targets overdraft loans at large institutions as Biden weighs in
Proposed rule would require large financial institutions to treat overdraft loans like credit cards and supply clear disclosures.
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CFPB’s future on the line following oral arguments at US Supreme Court
US Supreme Court justices heard the payday lending industry’s challenge to the CFPB’s funding structure in a case that has broad ramifications.
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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.
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CFPB settles with Citizens Bank over allegations of unlawful credit card servicing
CFPB and Citizens Bank settle allegations relating to Truth in Lending Act violations over the bank’s handling of credit card disputes.