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The Latest Breaking News from CFPB

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

Big banks sued for alleged Zelle fraud

The federal government says the banks failed to investigate cases and reimburse consumers

Salon

JPMorgan Chase, Bank of America, Wells Fargo and Zelle sued by regulator that claims the banks lost $870 million

The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

Fortune

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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

Bernie Sanders Backs Trump's Plan for 10% Credit Card Interest Rate Cap To Save Americans Billions

Bernie Sanders hopes that Donald Trump will fulfil his promise to impose a temporary credit card interest rate cap of 10% to help Americans repay existing debt and improve personal finances.

International Business Times UK

Banks Sue CFPB Over Overdraft Fee Limit Rule

Banks challenge CFPB's new overdraft fee rule, citing regulatory overreach and potential consumer impact.

Top News

The White House is cracking down on overdraft fees

The Consumer Financial Protection Bureau is capping the fees at $5 with a rule set to take effect in October 2025, if it isn't overturned by Congress or altered under a Trump administration

The Independent UK

Americans just saved $5 billion, but banks won’t be happy

A change to overdraft fee limits could hit the major banks.

The Street

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Salon

Why the GOP hates this consumer agency

Elon Musk is leading another effort to "delete" the CFPB. It's complicated.

Android Central

Google is suing to block CFPB oversight over Google Pay, calling it 'government overreach'

Since Google Pay is no longer available in the US, Google doesn't think it deserves to be supervised.

Salon

Cap on credit card fees rejected

Groups including the U.S. Chamber of Commerce lobbied against the regulation

TechRadar

Google sues US Consumer Financial Protection Bureau over federal supervision order for Google Pay

Google is unhappy with its federal supervision order from the Consumer Financial Protection Bureau.

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Tom’s Guide

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.

The Guardian - US

Trump picks Republican mega-donor Warren Stephens as ambassador to UK

Investment banker has donated regularly to conservative causes although not always in favor of the president-elect

The Independent UK

Elon Musk names financial watchdog government agency he wants to ‘delete’

Musk used a clip from ‘The Joe Rogan Experience’ to make the announcement

The Guardian - US

Elon Musk calls to ‘delete’ US consumer finance watchdog

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)

Al Jazeera

Trump ally Elon Musk calls to ‘delete’ US consumer protection bureau

Musk, a confidant of the president-elect, is set to co-lead Trump’s newly created Department of Government Efficiency.

Salon

Musk wants to "delete" CFPB

The Consumer Financial Protection Bureau was created in 2008 to protect people from predatory financial practices

Android Central

Consumer Financial Protection Bureau finalizes rule to supervise apps like Google Wallet

Big tech companies ended up creating "critical financial tool," hence why the CFPB wants oversight.

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