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October

11
2023
Industry News

CFPB Issues Guidance to Halt Large Banks from Charging Illegal Junk Fees for Basic Customer Service

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, such as charging excessive fees, for basic information about their own accounts.

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October

11
2023
Industry News

CFPB Exams Return $140 Million to Consumers Hit by Illegal Junk Fees in Banking, Auto Loans, and Remittances

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights focused on the agency’s efforts to protect consumers from illegal junk fees.

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October

11
2023
Industry News

Prepared Remarks of CFPB Director Rohit Chopra on a Press Call on Junk Fees

Americans are willing to pay a competitive price for great products, because that’s how a fair economy works. And when companies focus on competing, rather than cheating, everyone wins.

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October

10
2023
Industry News

GoWest member credit unions raise $1.2M for CMN Hospitals

Credit union leaders collaborated to raise $1.2 million for 11 Children’s Miracle Network Hospitals during the “The Totally Awesome CU4Kids Auction & 80’s Prom Bash” held in Spokane Oct. 4, as part of the GoWest Credit Union Association's annual MAXX Convention.

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October

10
2023
Industry News

Pennycuick Measure Providing Free Credit Monitoring for Data Breach Victims Approved by Senate

HARRISBURG – The state Senate today approved bipartisan legislation sponsored by Sen. Tracy Pennycuick (R-24) to strengthen notification requirements for data breaches and provide affected citizens with free credit monitoring and a credit report.

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