Companies like PayPal, Cash App to be Examined for Fraud, Errors, Illegal Account Closures, Data Collection
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WASHINGTON — The Center for Responsible Lending (CRL), National Consumer Law Center (NCLC), and the Student Borrower Protection Center (SBPC) submitted comments urging bank regulators to end bank-fintech partnerships that engage in predatory lending, evade the law, and pose a high risk of unfair, deceptive, or abusive practices and violations of consumer protection laws. “Banks should…
Read More about Consumer Advocates Urge Regulators to End Predatory Bank-Fintech Partnerships
Hidden and Predatory Remittance Fees Plague Immigrant Families WASHINGTON – A coalition of over 50 consumer, civil rights, academics and privacy organizations submitted a letter this week urging the Consumer Financial Protection Bureau (CFPB) to take meaningful actions to reduce and eliminate junk fees in international remittance transactions – fund transfers frequently used by immigrants…
Originally appearing in USA Today on October 9, 2024, Betty Lin-Fisher interviews Carla Sanchez-Adams for coverage of the differences in consumer protections for debit card and credit card transactions. Since consumer fraud protections aren’t as strong for debit cards, and there are specific, shorter time frames that banks have to resolve an unauthorized debit card…
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The Protecting Consumers from Payment Scams Act will help stop consumers from losing billions of dollars each year to fraud.
Read More about Federal Legislation Aims to Protect Consumers from Payment Fraud
Appearing in CNBC on July 19, 2024, Greg Iacurci interviews Lauren Saunders for coverage of new rules to cover workplace payday loans. If finalized, the rule would allow the CFPB to bring enforcement actions against companies that don’t make the appropriate disclosures, for example, said Lauren Saunders, associate director of the National Consumer Law Center.…
