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Tag Archives: Consumer Financial Protection Bureau

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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High court skeptical of Obama recess appointments

WASHINGTON — The Supreme Court cast doubt Monday on President Barack Obama’s use of a provision of the Constitution to make temporary appointments to high-level positions over the objection of Senate Republicans. The court is writing on a blank slate ...

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Amex paying $112.5M in late-fee settlements

WASHINGTON — American Express is paying $112.5 million in refunds and fines to settle regulators’ accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. The ...

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Feds order Discover to refund $200M to cardholders

WASHINGTON — Discover Bank will pay millions in fees to settle accusations by regulators that it pressured credit card customers to buy costly add-on services like payment protection and credit monitoring. Discover, the sixth-biggest U.S. credit card issuer, will pay ...

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Consumer finance agency sets mortgage protections

WASHINGTON — The government’s consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments. Mortgage servicing companies would be required to provide clear monthly billing ...

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Capital One to pay $210M over marketing tactics

WASHINGTON — The Obama administration’s consumer watchdog agency flexed its enforcement muscles for the first time Wednesday and ordered Capital One Bank to repay millions of credit card customers allegedly tricked into buying costly add-on services. Capital One will pay ...

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