Navy Federal Credit Union must pay more than $95 million after an investigation found it charged customers millions in illegal overdraft fees over a five-year period, according to the Consumer Financial Protection Bureau.

Over two years after VyStar Credit Union launched a failed mobile and online banking experience for members, the Jacksonville-based bank now faces an over million-dollar fine.

More and more people are using payment apps to send and receive money.

The U.S. consumer watchdog has found that low-income families typically pay as much as 60 cents per dollar in fees when paying for school lunches electronically.

The Consumer Financial Protection Bureau says apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act.

The Biden administration is pushing to prevent medical debt from being considered in most decisions made over whether someone qualifies to rent an apartment, buy a car or take on a mortgage.

“Buy now, pay later” services are a popular way that shoppers pay for goods.

The Consumer Financial Protection Bureau says in a new rule that buy now, pay later lenders are basically credit card providers and must provide the same protections and rights that apply to those lenders.

Since its creation roughly 14 years ago, the Consumer Financial Protection Bureau has faced lawsuits, political and legal challenges to the idea of whether the Federal Government’s aggressive consumer financial watchdog agency should be allowed exist at all.

President Joe Biden says the Supreme Court's rejection of a conservative-led attack that could've undermined the Consumer Financial Protection Bureau is “an unmistakable win" for consumers.

The Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card rewards programs.

A federal judge in Texas has accused the major banking industry groups and the U.S. Chamber of Commerce of forum shopping in their lawsuit against the Consumer Financial Protection Bureau.

President Joe Biden is highlighting a proposal to cap all credit card late fees.

New data from the Federal Reserve of New York suggests Americans battling inflation use their credit cards more than ever.

The Biden administration has proposed banning another type of bank “junk fee,” targeting fees that are typically charged by banks when a transaction is declined in real time.

The Consumer Financial Protection Bureau has proposed new rules that would lower overdraft fees, with President Joe Biden calling the charges “exploitative.”.

The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest move by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

The Consumer Financial Protection Bureau is expected to propose rules this week that further rein in banks’ ability to charge customers a fee when they overdraw their bank account.

Before you sign up for one of those medical credit cards or loans offered by the health care provider -- promising to ease the burden -- Consumer Reports warns you could end up doing more harm than good.

A federal regulator says Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards.

The Supreme Court seems likely to preserve the work of the Consumer Financial Protection Bureau against a conservative-led challenge.

The Supreme Court is returning to a new term with familiar topics such as guns and abortion, as well as concerns about ethics swirling around the justices.

Bank of America must reimburse customers more than $100 million and pay $150 million in fines for “double-dipping” on overdraft fees, withholding reward bonuses on credit cards and opening accounts without customer consent.

A group of Democratic senators is asking the Consumer Financial Protection Bureau to take action against medical credit cards such as CareCredit, saying the cards’ deferred interest features are confusing and often lead to consumers paying high interest rates after a promotional period has ended.

Can you trust Erica, or Sandi or Amy to increasingly control parts of your financial life without giving you inaccurate information or sending money to the wrong place.

Customers of Venmo, PayPal and CashApp should not store their money with those apps for the long term because the funds may not be covered by deposit insurance.

Banks will need to start reporting the demographics and income of small business loan applicants under new rules published by the Consumer Financial Protection Bureau on Thursday.

The White House has brought together state lawmakers, federal officials and others for a virtual meeting where participants traded ideas about how to fight “junk fees” that inflate the cost to consumers for everything from hospital visits and airline tickets to student loans and concert seats.

The Supreme Court says it will take up a Republican-led challenge to the Consumer Financial Protection Bureau, a case that could threaten how the consumer watchdog agency functions if the high court agrees with the challenge.

The number of people with medical debt on their credit reports fell by 8.2 million — or 17.9% —between 2020 and 2022.

Apple and Google say they disagree with a Commerce Department report accusing them of operating mobile app stores that stifle competition.

Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.

With time running out before the election, President Joe Biden highlighted his administration’s push to crack down on so-called junk fees that banks and other companies charge their customers.

A federal report says nursing homes and debt collectors are flouting a law that prohibits them from requiring friends and family of care home residents to be responsible for costs of the facilities.

For more than a decade, US Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau said Thursday, in a case that is deeply similar to the sales practices scandal uncovered at Wells Fargo last decade.

The Consumer Financial Protection Bureau sued credit company TransUnion and one of its long-time executives on Tuesday, alleging the company completely “disregarded” a previous order from five years ago to stop selling dubious credit-related products and marketing.

The Justice Department has announced a cross-government effort to investigate and prosecute redlining, the practice of banks discriminating against racial minorities or certain neighborhoods.

The Consumer Financial Protection Bureau is ordering Apple, Amazon, PayPal and other tech giants to reveal how their proprietary payment networks function.

The Senate has narrowly approved President Joe Biden’s pick to run the Consumer Financial Protection Bureau, giving the bureau a director who is likely to embrace an aggressive “watchdog” role.

Renters in counties where the eviction ban order does not apply now face the possibility of eviction if they still owe back rent. And on top of that, scammers can take advantage of the panic caused by this situation.

American homeowners were given greater opportunity to hit pause on their mortgage payments because of the the pandemic, but that relief is slowly coming to an end.

The nation’s consumer watchdog is signaling a more aggressive approach toward the financial services sectors after a few years of being on a tight leash.

An estimated 8.8 million Americans are behind on their rent, according the Consumer Financial Protection Bureau.

(AP Photo/Susan Walsh)CHARLOTTE, N.C. – President Joe Biden's nominee to run the federal consumer watchdog agency indicated Tuesday that if confirmed he would restore more aggressive enforcement actions against companies and banks that largely faded during the Trump administration. On his first day in office, Biden asked President Donald Trump's CFPB director, Kathy Kraninger, to resign. Part of the law that overhauled the entire financial industry, the CFPB was given the mission to be an aggressive regulator and a watchdog for American consumers. He left the bureau in in the final days of the Obama administration to work for an outside consumer advocacy group. In 2018, President Donald Trump nominated Chopra to the FTC to fill the Democratic seat on the regulator.

President-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Gensler, a former Goldman Sachs banker, tightened oversight of the complex financial transactions that helped cause the Great Recession. Consumer and investor advocate groups praised the selections of Gensler and Chopra. Mulvaney had been a vocal critic of the consumer agency and made deep changes to it, softening regulations on payday loans, for example, and pulling back on enforcement efforts. As one of two Democratic commissioners on the five-member Federal Trade Commission, Chopra has been an outspoken critic of practices by big companies, especially tech giant Facebook.

The 47 attorneys general and the Consumer Financial Protection Bureau reached the settlement with PEAKS Trust, which ran a private loan program for ITT Tech. According to the agreement, PEAKS acknowledged coercing students into taking out high-interest loans, has agreed to forgive outstanding loans and end operations. “I am glad we were able to secure debt relief for former students who are still financially affected by this high-pressure loan program,” Moody said in a statement. Moody said students don’t have to do anything to receive the relief. Students may direct questions to PEAKS at customerservice@peaksloans.com or 866-747-0273, or the Consumer Financial Protection Bureau at 855-411-2372.

WASHINGTON The Supreme Court is making it easier for the president to fire the head of the Consumer Financial Protection Bureau. The high court on Monday struck from the law that created the agency restrictions on when the president can remove the bureaus director. The agency may ... continue to operate, but its Director, in light of our decision, must be removable by the President at will," Chief Justice John Roberts wrote. The decision doesnt have a big impact on the current head of the agency. Kathy Kraninger, who was nominated to her current post by the president in 2018, had said she believed the president could fire her at any time.

A forbearance hits the pause button on mortgage payments. If you feel forbearance is your best option, you need to know which company services your loan and which company owns it. Forbearance allows homeowners to suspend mortgage payments for a designated period of time. In some cases, interest will continue to accrue on privately held loans while payments are reduced or suspended. People with privately held loans must work out the best available option with their servicer.