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The Latest Breaking News from The Consumer Financial Protection Bureau

How Lehman's collapse 15 years ago changed the U.S. mortgage industry

The global financial crisis of 2008 ushered in a new era of consumer protection, but the future of the housing market is uncertain.

WEKU

Wire transfer scam victims say banks could stop the fraud — but don’t

Consumers have lost billions through unwanted wire transfers, which don’t carry the same legal protections as debit or ATM transactions. The banks say they’re doing all they can to warn people about scams.

Chicago Sun-Times

Bank of America to pay $250 million for illegal fees, fake accounts

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.

WEKU

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Biden administration targets unexpected health costs - Roll Call

The White House announced a trio of steps Friday aimed at protecting patients from unexpected health care costs.

Roll Call

Medical credit cards may lead patients to overpay for their health care, Democrats warn

A group of Democratic senators is asking the Consumer Financial Protection Bureau to take action against medical credit cards such as CareCredit, saying the cards’ deferred interest features are confusing and often lead to consumers paying high interest rates after a promotional period has ended

The Independent UK

Money stored in Venmo, other payment apps could be vulnerable, financial watchdog warns.

Customers of Venmo, PayPal and CashApp should not store their money for the long term with these apps since their funds may not be covered by deposit insurance, the Consumer Financial Protection Bureau warned on Thursday

The Independent UK

Veterans Should Look Out for These Scams

What scams to look out for if you are a veteran.

Kiplinger

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As some families learn the hard way, dementia can take a toll on financial health

Reckless behavior with money can be a warning sign of cognitive decline — and the condition can put people at risk of financial ruin. There are few institutional safeguards in place.

WEKU

Gov't to start looking for bias in small business lending

Banks will need to start reporting the demographics and income of small business loan applicants under new rules published by the Consumer Financial Protection Bureau on Thursday

The Independent UK

What Is a Good Credit Score?

Having a good credit score can save you hundreds, even thousands of dollars on credit cards, mortgages and other loans.

Kiplinger

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