The Latest Breaking News from Rohit Chopra

An investigation found that Bank of America raked in tens of millions of dollars in resubmitted insufficient funds fees. The bank also illegally opened credit cards without customers knowledge.

WASHINGTON — Consumer Financial Protection Bureau Director Rohit Chopra on Tuesday defended the agency’s proposal to lower credit card late fees against criticism from Republicans at a Senate Banking hearing.

Consumer Financial Protection Bureau Director Rohit Chopra defended a proposal to lower credit card late fees against GOP criticism.

Can you trust Erica, or Sandi or Amy to increasingly control parts of your financial life without giving you inaccurate information or sending money to the wrong place

CFPB says medical credit cards are driving up the cost of care with more than $1 billion accrued in deferred interest.

The White House has brought together state lawmakers, federal officials and others for a virtual meeting where participants traded ideas about how to fight “junk fees” that inflate the cost to consumers for everything from hospital visits and airline tickets to student loans and concert seats

The Consumer Financial Protection Bureau wants to cap late fees at $8. Banking groups say the proposal would result in higher costs for consumers.

The Biden administration is taking aim at Apple and Google for operating mobile app stores it says stifle competition

The Biden administration says new regulations on credit card late fees could save consumers $9 billion a year.

The Consumer Financial Protection Bureau left very little unsaid when it announced, a few days before Christmas, $3.7 billion in assessments against Wells Fargo Bank for more than a decade of legal violations harming its millions of customers.

The case marks the largest penalty ever imposed by the federal watchdog agency the Consumer Financial Protection Bureau. Customers who were harmed will receive $2 billion in restitution.