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Under the proposed rule, banks working with fintech companies would need to identify the beneficial owners of each account and its balance.
CFPB charged bank over range of illegal activities centering on motor vehicle loans.
Proposed rule would require large financial institutions to treat overdraft loans like credit cards and supply clear disclosures.
US Supreme Court justices heard the payday lending industry’s challenge to the CFPB’s funding structure in a case that has broad ramifications.
Bank of America, the second-largest US bank by assets, engaged in deceptive practices that hurt hundreds of thousands of its customers, regulators allege.
CFPB and Citizens Bank settle allegations relating to Truth in Lending Act violations over the bank’s handling of credit card disputes.