Tag: credit-card payment

Capital and Risk, Credit, Regulations

CFPB Probes ‘Suppressed’ Credit Card Payment Reporting

June 1, 2022

Via: JD Supra

On May 25, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post, examining what it describes as the “practice of suppressing payment data.” Per the blog post, the CFPB alleges that its research conducted in 2020 “uncovered […]


Bank of America to pay $75M to settle class action on overdraft fees

May 17, 2021

Via: Banking Dive

U.S. banks with more than $1 billion in assets took in a combined $11.68 billion in overdraft fees in 2019, the Center for Responsible Lending (CRL) found in June 2020. Bank of America’s five-year moratorium of retry fees is expected […]