Kate Berry

The American Bankers Association and U.S. Postal Inspection Service have launched a public awareness campaign on ways to protect checks sent in the mail.

A Texas judge ordered the U.S. Chamber of Commerce to explain why it sued the Consumer Financial Protection Bureau in Texas to halt the bureau's $8 credit card late fee rule after the bureau filed a motion accusing the trade group of "forum shopping."

A Texas judge has recused himself from a case that pits the largest credit card issuers against the Consumer Financial Protection Bureau and a rule that would eliminate $10 billion in late fees.

The Consumer Financial Protection Bureau claims trade groups have no jurisdiction to file a lawsuit in Texas to stop the bureau's $8 credit card late fee rule, saying the plaintiffs engaged in "forum-shopping" to seek the most favorable outcome.

The Congressional Budget Office put an estimate on the net government subsidy provided to the Federal Home Loan Bank System, including the so-called "implied guarantee," on bonds priced and sold to investors.

The lawsuit against the Consumer Financial Protection Bureau was filed just two days after the bureau finalized a rule to cut credit card late fees to $8 from $32.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.

The Consumer Financial Protection Bureau will release a final rule Tuesday that is expected to save consumers $10 billion a year in credit card late fees. The rule is part of a larger effort by the White House to crack down on illegal fees and price hikes that President Biden will address in the State of the Union.

Critics argue the Federal Home Loan Bank System earned record profits last year and should provide a public benefit commensurate with the perks to members.

The Consumer Financial Protection Bureau provided guidance about digital intermediaries and lead generators that accept payments to steer borrowers to financial products.

The Consumer Financial Protection Bureau said it was invoking a special authority to supervise entities that pose risks to consumers in taking on World Acceptance Corp.

Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau.

The Supreme Court justices grappled with the question of whether a newly formed company can challenge a regulatory rule after the six-year statute of limitations has expired, a decision that could have broad impact on plaintiffs' ability to challenge agency rules.

The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.

Nearly a dozen states are looking to regulate digital payroll advance products, prompting a fintech trade group to ask the Consumer Financial Protection Bureau to conduct a formal rulemaking.

A clash over pay playing out in contract negotiations between the Consumer Financial Protection Bureau and its employee union occur as the Supreme Court is considering whether the agency must get its funding from Congress.

Fiserv's Money Network will officially start managing the state's prepaid debit card program for distributing unemployment and disability benefits to 850,000 beneficiaries. BofA had been trying to exit its contract for several years due to financial risks.

Charging a nonsufficient funds fee on a debit, ATM or peer-to-peer payment that gets declined immediately would be considered "abusive" under a proposed rule from the Consumer Financial Protection Bureau.

Small banks appeared to notch a big win with the exemption from the Consumer Financial Protection Bureau's overdraft proposal. But some experts are questioning the CFPB's rationale, given research that shows small banks' overreliance on overdraft revenue.