Search results for: Fake account fiasco

Adam Fagen

CFPB Asks Education Secretary DeVos To Not Give Up On Protections For Student Loan Borrowers

A week after Secretary of Education Betsy DeVos essentially broke up with the Consumer Financial Protection Bureau, ending the agencies’ agreements to work together to root out bad players in the student loans servicing arena, the CFPB is firing back, accusing DeVos of misunderstanding just what the Bureau does. [More]

Taber Andrew Bain

Feds Investigating Wells Fargo Sudden Account Closures

Last year, federal regulators fined Wells Fargo $185 million for its fake account fiasco in which employees were found to have opened more than two million accounts without customers’ authorization. Now, the bank says it’s under investigation for wrongly closing some accounts.  [More]

the-specious

Wells Fargo Accidentally Handed Over A Bunch Of Confidential Info On Its Rich Clients

After having a heckuva time dealing with backlash over its recent fake accounts fiasco, Wells Fargo has another debacle on its hands: A new report says a lawyer for the bank accidentally released a whole lot of confidential information about tens of thousands of its richest clients. [More]

(SarahMcGowen)

Don’t Strip Consumers Of Their Right To A Day In Court, Say Advocates, Senators

Last week, bank-backed lawmakers revealed their plans to pass fast-track legislation that would undo the Consumer Financial Protection Bureau’s recently finalized rules that prevent banks and other financial institutions from stripping customers of their constitutional right to a day in court. Now, consumer advocates are urging the rejection of the legislation, expected to be voted on this week.  [More]

photographynatalia

Lawmakers Who Want To Hand ‘Get Out Of Jail Free’ Card To Banks Made Millions From Financial Sector Last Year

As expected, Republican lawmakers in both the House and Senate have introduced legislation that would overturn new rules intended to make sure that bank and credit card customers aren’t stripped of their right to file lawsuits in a court of law. Not surprisingly, many of the politicians pushing this pro-bank bill recently received significant financial support from the financial sector. [More]

inajeep

GOP Moving Forward With Plan To Block New Legal Protections For Bank, Credit Card Customers

The Consumer Financial Protection Bureau recently finalized new rules that prevent banks and other financial institutions from stripping customers of their constitutional right to a day in court. As expected, bank-backed lawmakers in both the House and Senate are now planning to pass fast-track legislation that would undo these protections and make sure banks retain their “get out of jail free” card. [More]

Joe Gratz

CFPB’s Finalized Arbitration Rule Takes Away Banks’ ‘Get Out Of Jail Free Card’

Roughly 240 days from now, banks and other financial companies will no longer be allowed to prohibit customers from banding together in class-action lawsuits through the use of binding arbitration clauses, as the Consumer Financial Protection Bureau today released a long-awaited finalized rule on arbitration.  [More]