Trump Is Turning CFPB Against Consumer Rights
From today’s New York Times: The Consumer Financial Protection Bureau is turning into the Corporate Financial Protection Bureau. President Trump’s C.F.P.B. has not only ceased to pursue its mandate; it…
Consumer Protection Agency Finalizes Rule Limiting Overdraft Fees
From today’s Washington Post: The Consumer Financial Protection Bureau announced Thursday that it has finalized new rules limiting the fees that banks can charge when customers overdraw their accounts. In…
CFPB Increases Consumer Protections for ‘Buy Now, Pay Later’ Schemes
From today’s NBC7 San Diego: You’ve probably noticed a new way to pay when shopping online over the past few years. It’s known as “buy now, pay later,” or BNPL.…
What Amazon, the F.T.C. and C.I.A. Won’t Say When You’ve Been Scammed
From today’s New York Times: When New York magazine’s finance advice columnist dropped an article that went viral on Thursday about falling victim to a $50,000 scam, my heart skipped…
Wells Fargo Targeted for ‘Alarming Pattern’ of Zelle Fraud
From today’s New York Times: Fraud on Zelle, the instant-payments system owned by seven of the nation’s biggest banks, has been rising in the past year, leaving hundreds of thousands…
SCOTUS could upend consumer financial protection as we know it
From today’s CNBC News Online: A case before the Supreme Court has the power dramatically to reshape how the U.S. government polices financial fraud and other misdeeds against consumers —…
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American economy
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wage stagnation
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Lawmaker in Congressional hearing on bank CEOs’ pay: “It doesn’t look good”
From today’s CBS News Online: Making their first appearance before Congress since the financial crisis a decade ago, the CEOs of America’s biggest banks told lawmakers their financial institutions are…
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American economy
consumer protection
economics
financial corruption
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worker rights
‘Too Little Too Late’: Bankruptcy Booms Among Older Americans
From today’s New York Times: For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy. The signs of…
How Wells Fargo and Federal Reserve Struck Deal to Hold Board Accountable
From today’s New York Times: On a Thursday evening in mid-January, a group of top Wells Fargo executives sat down for dinner in an upscale surf-and-turf restaurant near the White…
Five regulatory agencies approve Volcker Rule, curbing risky banking
Five federal regulatory agencies approved the so-called “Volcker Rule” today, restricting commercial banks from trading stocks and derivatives for their own gain and limits their ability to invest in hedge…