Federal Regulators Fine Bank of America $225 Million Over Botched Disbursement of State Unemployment Benefits at Height of Pandemic

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) have fined Bank of America $225 million for botching the disbursement of state unemployment benefits at the height of the pandemic.

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) have fined Bank of America $225 million for botching the disbursement of state unemployment benefits at the height of the pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/federal-regulators-fine-bank-of-america-225-million-over-botched-disbursement-of-state-unemployment-benefits-at-height-of-pandemic/

Director Chopra’s Prepared Remarks on the Repeat Offender Lawsuit Against TransUnion and John Danaher

Today, the Consumer Financial Protection Bureau (CFPB) has filed a major lawsuit against repeat offender TransUnion, two of its subsidiaries, and a longtime executive, John T. Danaher, for violating a 2017 law enforcement order.

Today, the Consumer Financial Protection Bureau (CFPB) has filed a major lawsuit against repeat offender TransUnion, two of its subsidiaries, and a longtime executive, John T. Danaher, for violating a 2017 law enforcement order.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/director-chopras-prepared-remarks-on-the-repeat-offender-lawsuit-against-transunion-and-john-danaher/

Consumer Financial Protection Bureau Announces Settlement with TD Bank for Illegal Overdraft Practices

The Consumer Financial Protection Bureau announced a settlement with TD Bank, N.A. regarding its marketing and sale of its optional overdraft service: Debit Card Advance (DCA).

The Consumer Financial Protection Bureau announced a settlement with TD Bank, N.A. regarding its marketing and sale of its optional overdraft service: Debit Card Advance (DCA).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-settlement-td-bank-illegal-overdraft-practices/

CFPB Takes Action to Help Employers Develop Emergency Savings Programs to Boost Worker Financial Resilience

The Consumer Financial Protection Bureau announced that it issued a Compliance Assistance Statement of Terms Template (CAST Template) under its Compliance Assistance Sandbox (CAS) Policy to Build Commonwealth, Inc (Commonwealth).

The Consumer Financial Protection Bureau announced that it issued a Compliance Assistance Statement of Terms Template (CAST Template) under its Compliance Assistance Sandbox (CAS) Policy to Build Commonwealth, Inc (Commonwealth).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-help-employers-develop-emergency-savings-programs/

Consumer Financial Protection Bureau Paves Way for Consumers to Receive Economic Impact Payments Quicker

The Consumer Financial Protection Bureau took steps to make it easier for consumers to receive pandemic-relief payments, including the economic impact payments authorized in the CARES Act, through prepaid accounts.

The Consumer Financial Protection Bureau took steps to make it easier for consumers to receive pandemic-relief payments, including the economic impact payments authorized in the CARES Act, through prepaid accounts.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-paves-way-consumers-receive-economic-impact-payments-quicker/