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CFPB order places Google’s online payments arm under direct agency supervision

December 9, 2024 0

Consumer complaints about error resolution at Google Payment Corp., Google’s online payments arm, have led to the federal consumer financial protection agency establishing direct supervisory authority over the nonbank firm, which reportedly is suing over the action. The Consumer Financial [...]
Bureau looks at effects of inaccurate credit reports on survivors of domestic violence, elder abuse; intends to issue proposed rule

December 9, 2024 0

The harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse would be considered under a rule being contemplated by the federal consumer financial protection agency, it said Monday. The Consumer [...]
Firm banned, charged fine, for delaying student loan borrowers loan rehabilitation process

December 9, 2024 0

Delaying borrowers’ loan rehabilitation processes, generating fees for itself and costing individual borrowers thousands of dollars has earned a Florida-based student loan debt collector an order to pay a $700,000 penalty and be banned from servicing or collecting any such [...]
Bank sued for ‘failing’ unbanked on receiving federal benefits, hanging up on calls seeking service

December 6, 2024 0

An $80 billion Texas bank has been sued for allegedly “systematically failing” 3.4 million primarily unbanked Americans receiving federal benefits, the federal consumer financial protection agency said Friday, which is seeking a stop to the bank’s conduct, redress for harmed [...]
14 key risks for U.S. financial stability cited in council’s annual report

December 6, 2024 0

Fourteen financial vulnerabilities for U.S. financial stability – similar to those noted a year ago, with some having evolved “in consequential ways” – and recommendations for addressing each are detailed in the 2024 annual report of the Financial Stability Oversight [...]