Consumer Financial Protection Bureau (CFPB) - News, Articles & Research

Company announcement/regulation

CFPB reduces Wise fine

The Consumer Financial Protection Bureau (CFPB) today amended its January 30, 2025 consent order with the international remittance company Wise resolving claims including advertising inaccurate fees and failing to properly disclose exchange rates and other costs.

16 May 2025

Company announcement/regulation

CFPB formally rescinds BNPL rule

The Consumer Financial Protection Bureau is announcing today that it will not prioritize enforcement actions taken on the basis of the Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 Fed. Reg. 47,068 (May 31, 2024) (“Buy Now, Pay Later”).

07 May 2025

News/regulation

CFPB to revisit open banking rule

In its latest about-turn under the Trump administration, the Consumer Financial Protection Bureau is preparing to reopen its recently finalised open banking rule, according to Bloomberg Law.

06 May 2025

News/regulation

US Judge throws out CFPB's cap on credit card late fees

A US judge has killed of a Consumer Financial Protection Bureau rule capping credit card late fees at $8.

16 April 2025

News/regulation

House of Representatives kills CFPB oversight of Big Tech payment apps

The US House of Representatives has followed the Senate in voting to overturn a Consumer Financial Protection Bureau rule that would give the watchdog oversight of tech giants such as Apple, Google and X, that offer digital payment apps and wallets.

10 April 2025

News/regulation

CFPB set to ditch BNPL rule

The Consumer Financial Protection Bureau is set to perform another U-turn, dropping an interpretive rule declaring that pay-in-four BNPL lenders should be treated in the same way as credit cards.

28 March 2025

News/regulation

Senate votes to scrap CFPB oversight of Big Tech payment apps

The US Senate has voted to overturn a Consumer Financial Protection Bureau rule that would give the watchdog oversight of tech giants, such as Apple, Google and X, that offer digital payment apps and wallets.

13 March 2025

News/crime

CFPB dismisses Capital One savings account rates lawsuit

Thursday marked The Consumer Financial Protection Bureau’s (CFPB) dismissal of their lawsuit initiated on 14 January 2025, suing Capital One, and its parent holding company, Capital One Financial Corp for cheating millions of consumers out of more than $2 billion in savings account interest.

28 February 2025

News/regulation

JPMorgan Chase CEO calls for Washington to rethink financial regulations

During a meeting with Republican lawmakers and other top bank CEOs on whether big lenders are ‘debanking’ certain customers, JPMorgan Chase CEO Jamie Dimon emphasised the need to step back and reassess the financial regulations governing the banking industry.

14 February 2025

News/regulation

Union files suit over CFPB shutdown

A labour union has filed lawsuits against Consumer Financial Protection Bureau acting director Russell Vought after he ordered staff to halt much of the watchdog's activities.

10 February 2025

News/regulation

CFPB orders Wise to pay over $2m

Money transfer platform Wise has been hit with a $2.025 million penalty from the Consumer Financial Protection Bureau (CFPB) for misleading customers about fees and charges.

30 January 2025

Company announcement/regulation

CFPB orders Equifax to pay $15 million penalty for improper investigation of credit reporting errors

Today, the Consumer Financial Protection Bureau (CFPB) took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

20 January 2025