Don't Leave Money Lying Around on PayPal, Venmo, etc.
Funds in payment apps aren't covered by FDIC insurance and may not be protected.
Credit Crunch: Top 4 U.S. Lenders Hit by Rising Defaults
Banks are getting nervous as consumers fall behind on payments.
CashCall Ordered to Pay $167 Million in High-Interest Loan Case
A federal judge has ordered the high-cost consumer lender CashCall to pay $167 million in connection with unjust gains from small-dollar loans in a case brought by the Consumer Financial Protection Bureau (CFPB) in December 2013.
U.S. District Judge John Walter ruled that CashCall must pay $134 million in
Puppy Loan Bank's Rating Downgraded by FDIC
A bank heavily criticized for making predatory loans to consumers buying puppies has been brought to heel by the Federal Deposit Insurance Corporation (FDIC), which said it has downgraded the Community Reinvestment Act (CRA) performance rating of Transportation Alliance Bank (TAB Bank) to “needs to improve,” a low rating that
Regions Bank Penalized for Surprise Overdraft Fees
Regions Bank is being ordered to return at least $141 million to customers harmed by its surprise overdraft fees. It will have to pay another $50 million into the Consumer Financial Protection Bureau’s victims relief fund.
The CFPB said that from August 2018 through July 2021, Regions charged customers
Want to do Your Banking at Walmart?
Spanish version
Want to do your banking at Walmart? It may soon be possible. The mega retail chain is working towards offering checking accounts and other financial services to its employees and customers.
Tens of millions of Americans are “unbanked,” meaning they don’t have a checking account or other
'Nonbanks' Face New Federal Scrutiny
Lenders making payday loans, private student loans and mortgages generally operate with less oversight than banks, a factor in some of the more disastrous economic meltdowns that have plagued consumers in recent decades.
That’s about to end. The Consumer Financial Protection Bureau (CFPB) announced today that it is invoking