CFPB warns of impostor scams using agency employee names
The CFPB warned that scammers are using the names of agency employees to try to defraud the public.
The CFPB warned that scammers are using the names of agency employees to try to defraud the public.
Monthly growth in household spending continued to slow in December 2023, although overall spending growth remained well above pre-pandemic levels, according to the Federal Reserve Bank of New York.
Interchange fees are “a relevant component” for helping make Bank On accounts economically sustainable for participating financial institutions, the Cities for Financial Empowerment Fund said in a letter to the Federal Reserve about its proposal to substantially lower the cap for debit interchange fees.
In a joint letter, ABA and the Consumer Bankers Association said that while they support proposed FDIC rulemaking to ease restrictions on bank hiring of job candidates with criminal histories, they had several recommendations for how the regulations could be improved.
The Producer Price Index for final demand fell 0.1% in December, seasonally adjusted, the U.S.…
Senate Banking Committee Chairman Sherrod Brown (D-Ohio) along with nine senators called on the Consumer Financial Protection Bureau and Department of Housing and Urban Development to review Navy Federal Credit Union’s mortgage lending practices following media reports that it denied mortgages to Black and Hispanic applicants at high rates.
A proposal to significantly lower the cap on debit card interchange fees threatens to undo the considerable progress banks have made toward offering affordable deposit account products and reducing the number of unbanked, ABA President and CEO Rob Nichols said in a letter to Bank On-certified banks.
House Financial Services Committee Chairman Rep. Patrick McHenry (R-N.C.) and Ranking Member Rep. Maxine Waters (D-Calif.) announced the formation of a bipartisan working group to explore how artificial intelligence is affecting the financial services and housing industries.
The proposed implementation of the Basel III “endgame” capital regulations would constrain the banking sector’s ability to provide credit and other essential financial services, ABA and 51 state bankers associations said.
The CFPB issued two advisory opinions for consumer reporting companies to address what it said were inaccurate background check reports and “sloppy” credit file sharing practices.