Trade associations sue US CFPB over payment supervision
The trade groups argue that Congress did not empower CFPB to supervise large non-banks offering consumer financial services.
Capital One sued by CFPB for allegedly cheating customers out of $2 billion
The Consumer Financial Protection Bureau (CFPB) is suing Capital One, alleging the bank illegally misled customers by not notifying them of account options that paid higher interest rates.The federal government's consumer watchdog claims Capital One's practices meant millions of customers missed out on a collective $2 billion they could have made in interest payments.
Tech groups sue US CFPB to block rule on payment apps, digital wallets
Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.
CFPB sues Capital One over $2B in unpaid interest to customers
The agency accused Capital One of obscuring a new, higher-paying savings product from some legacy savings account holders. The bank said it is “disappointed” with the bureau’s “eleventh hour lawsuits.
CFPB sues Capital One alleging it cheated customers out of over $2 billion in interest
Despite its relatively low interest rate, the CFPB alleged, the 360 Savings account was advertised as a high-interest savings account.
CFPB Sues Capital One Over Interest Payments. Why You Should Track Your Savings Account APY
The Consumer Financial Protection Bureau is suing Capital One for allegedly misleading customers about its high-yield savings account options and cheating them out of close to $2 billion in interest.
CFPB sued for trying to regulate digital payment apps more like banks
NetChoice and TechNet are challenging the bureau’s effort to oversee compliance with federal fraud and privacy laws by Apple Pay, Google Wallet, Cash App, Venmo, and others.
Yahoo Finance1mon
Bank groups sue CFPB over rule to limit overdraft fees
Banks and credit unions said Thursday they plan to sue the federal Consumer ... Johnson said in a statement. The groups said the final rule introduced by the CFPB on Thursday, "exceeds its ...
US consumer finance watchdog sued for treating digital wallets like banks
TechNet and NetChoice have sued the Consumer Financial Protection Bureau, challenging a rule that gives the regulator more ...
Tech Groups Sue to Block CFPB Rule Targeting Apple, Google (2)
A pair of trade groups representing Facebook parent Meta Platforms Inc., Apple Inc., and Google parent Alphabet Inc. sued to ...
Atlanta Journal-Constitution1mon
Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
Some banks and banking trade groups are suing the Consumer Financial ... according to data from the CFPB and bank public records. Currently, there is no cap on the overdraft fees that banks ...
Becker's Hospital Review8d
Groups sue to block CFPB's medical debt credit reporting ban
Trade groups file lawsuit against CFPB over new rule banning medical debt from credit reports, arguing it exceeds statutory authority.
Al Bawaba News1mon
Bank groups set to sue CFPB due to rule to limit overdraft fees
Banking groups said they plan to sue the federal Consumer Financial Protection ... The groups said the final rule introduced by the CFPB on Thursday, "exceeds its regulatory authority." ...
US CFPB fines Cash App-parent Block over insufficient fraud protection
The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty, citing fraud and weak security protocols on its mobile payment service Cash App.