United States: CFPB Seeks Comment On Policy To Encourage Trial Consumer Disclosure Programs - Paul Hastings LLP
In an effort to encourage more innovation in consumer finance, the Bureau of Consumer Financial Protection recently proposed its Policy to Encourage Trial Disclosure Programs.
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New Bluebird prepaid card is alternative to checking accounts
Tuesday, October 9, 2012 - 02:06 Bluebird by American Express and Walmart Walmart and American Express have teamed up to offer the new Bluebird card. They say it should help people avoid the high fees on checking accounts and debit cards. Fewer fees mean more customers. That’s the hypothesis behind a new prepaid card called Bluebird . It’s the product of an odd-couple partnership between elite financial services company, American Express, and populist low-cost retailer, Walmart. What makes the Bluebird card different? In a word: Fees. The prepaid card promises no minimum balance requirements, no monthly fees, no annual fees, and no overdraft fees. Dan Schulman with American Express says, “Last year, banks charged $31.6 billion in overdraft fees. And according to a recent Bank Rate study, the minimum balance average to avoid a maintenance fee is now $723.02. That’s up 23 percent from last year.” He says the typical non-interest-bearing checking account now has an average monthly ...
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United States: Your Complaints Just Went Public! The CFPB Expands Online Access To Consumer Complaint Data - Loeb & Loeb LLP
Keeping its promise to make consumer complaints available for all the consumer financial products and services it oversees, the Consumer Financial Protection Bureau yesterday announced that it has added some 90,000 additional complaints about mortgages, bank accounts and services, student loans, consumer loans, and credit cards to its online Consumer Complaint Database.
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United States: Negotiating The Enforcement Maze: A CFPB Civil Investigative Demand - Foley & Lardner
The Consumer Financial Protection Bureau, through its Office of Enforcement, may conduct inquiries of institutions or persons to investigate compliance with the federal consumer financial laws for which it is responsible.
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United States: Six Things To Know About The CFPB - Venable LLP
Since opening for business in July 2011, the Consumer Financial Protection Bureau ("CFPB" or the "Bureau") has focused on regulating consumer financial markets and protecting consumers through studying markets, educating consumers, and enforcement.
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