US: Consumer Watchdog seeks rollback of payday lending rules
From Newsmax The U.S. consumer watchdog on Wednesday proposed reviewing a rule cracking down on payday lenders in what consumer advocates said is a further sign consumer protections are being eroded by the Trump administration. The Consumer Financial Protection Bureau…
Wells Fargo grapples with real accounts it closed or froze
From WN After paying customers millions of dollars for opening phony accounts they did not want, Wells Fargo & Co. now says it may have harmed customers by closing real accounts they needed, leaving them without access to funds, Reuters…
US: D.C. Circuit poised to disrupt consumer protection bureau power structure
By Zoe Tillman, From The National Law Journal A federal appeals panel in Washington on Tuesday appeared ready to disrupt the organizational structure of the Consumer Financial Protection Bureau, which vests power in the hands of a single director. During…
Barry Silbert’s latest investment is more evidence Bitcoin’s biggest opportunities may lie outside the US
By Rob Wile From Business Insider A gas station attendant looks at an Indian rupee. American venture capital in Bitcoin continues to cross the ocean. On Monday, Barry Silbert’s Bitcoin Opportunity Corp. announced it had invested $250,000 in Bangalore-based Unocoin….
CFPB report: Typical overdraft situation is comparable to small-dollar loan with 17,000% interest rate
By Ashlee Kieler From Consumerist If you’re one of the hundreds of millions of consumers who use a debit card you’ve likely found yourself on the receiving end of an overdraft fee when your account balance just wasn’t quite enough…
Feds sue law firms in foreclosure relief scams
By Jenna Greene, from The National Law Journal Federal and state consumer protection watchdogs on Wednesday [23] took aim at lawyers, filing more than three dozen suits targeting law firms and other entities for running illegal foreclosure relief scams. The…
Fixing fees for profit
By Arthur Hall, Senior News Editor, From Jamaica Gleaner NOTE: The dollar amounts mentioned in this story are Jamaican Dollars (1 Jamaican Dollar equals 0.0091 US Dollar) Banks increase earnings from transaction charges -CaPRI A just-concluded study by the local…
