CFPB

The Trump administration is implementing major staff cuts at the Consumer Financial Protection Bureau (CFPB), letting nearly 90% of its staff go as part of a larger initiative to scale back the agency's role in monitoring consumer financial protections. What Happened: More than 1,500 CFPB employees...

A Texas federal judge has ruled against a Biden-era regulation that would have capped credit card late fees at $8, terminating a major initiative by the Consumer Financial Protection Bureau (CFPB) to restrict what it labelled "junk fees." The decision is being regarded as a legal and political win...

Editor’s Note: This article has been updated to include a statement from Zelle. The Consumer Financial Protection Bureau dropped its lawsuit against JPMorgan Chase & Co (NYSE:JPM), Wells Fargo & Co (NYSE:WFC) and Bank of America Corp (NYSE:BAC) on Tuesday concerning the banks’...

The U.S. Senate voted on Wednesday to revoke the Consumer Financial Protection Bureau's authority to oversee digital payment platforms. This move could reportedly directly benefit Elon Musk's social media company, X. What Happened: The rule, finalized last year, was designed to regulate fraud and...

The Consumer Financial Protection Bureau (CFPB) has been put on ice. Staffers have been told to halt all work, and the agency's Washington headquarters has reportedly been shut down. While this unprecedented move raises serious concerns about consumer rights, it also presents a potential...

Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) operations were unexpectedly suspended. This followed DOGE lead Elon Musk’s apparent call for the agency’s dissolution in an X post on Saturday, where he wrote “CFPB RIP.” The decision is expected to...

Treasury Secretary Scott Bessent on Monday ordered a halt to the majority of work at the Consumer Financial Protection Bureau after being selected as the acting director of the agency by President Donald Trump.  The Details: According to a report from the Wall Street Journal, Bessent directed the...

Capital One Financial Corp. (NYSE:COF) is set to report its fourth-quarter financial results after Tuesday's closing bell. Here's a look at what investors will be watching when the financial services company reports.  What To Know: Wall Street will be interested in the performance of Capital One...

An analyst upgraded Bread Financial Holdings Inc (NYSE:BFH) and Synchrony Financial (NYSE:SYF) following improving credit conditions and the delay of a Consumer Financial Protection Bureau (CFPB) late fee rule. The Bread and Synchrony Analyst: Bank of America analyst Mihir Bhatia released a Friday...

The U.S. Supreme Court is scheduled to hear a case on Tuesday concerning the funding structure of the Consumer Financial Protection Bureau (CFPB), the agency created following the 2008 financial crisis to protect consumers from predatory lending and other deceptive practices. Central to the case,...

President Joe Biden’s administration has announced actions to further advance his agenda of promoting competition in the American economy. The President has called on Congress to pass a Junk Fee Prevention Act that cracks down on four types of junk fees that cost American consumers billions...

By Christina Hunt-Fuhr Recent Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) enforcement actions against Bank of America (NYSE: BAC) might seem narrow in scope due to their specificity, but their implications are broad.  The actions highlight...