Tag Archives: Consumer Financial Protection Bureau

Wells Fargo to pay $1B for mortgage, auto lending abuses

Wells Fargo & Co.'s headquarters in San Francisco, California, is pictured on Tuesday, December 23, 2003. Wells Fargo, the fourth-largest U.S. bank by assets, alowed two unrelated Ponzi schemes to transfer more than $255 million through several accounts in money-laundering schemes from 1995 to 2002, according to allegations in a civil suit in one case and a federal prosecution in the other. Photographer: Noah Berger/Bloomberg News

Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in years-long, wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly to the victims of Wells Fargo's abuses.

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Democratic state AGs, including Frosh, move to defend consumer watchdog

“We must curtail the growing militarization of police,” says Maryland Attorney General Brian E. Frosh, in urging several changes to police oversight. (The Daily Record/File Photo)

WASHINGTON — Attorneys general from 16 states and the District of Columbia are seeking to defend a U.S. consumer watchdog agency in court amid speculation that President Donald Trump may fire its director, Richard Cordray. The attorneys general, all Democrats, ...

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Banks, consumer groups lock horns over arbitration

Maryland Attorney General Brian Frosh. (File)

Consumer rights advocates, joined by Maryland’s attorney general, and the banking industry are going toe to toe over a federal proposal to block banks from using mandatory arbitration to resolve disputes with their customers. The 90-day comment period on a ...

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Advances on tax refunds appeal to more cash-poor Americans

Cash-strapped Americans anxious for tax refunds are increasingly turning to payment advances, prepaid cards or other costly services when getting tax preparation help, according to new federal data raising concerns among regulators about whether consumers are fully informed about the fees.

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