WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it. The CFPB has observed in complaints that even after a consumer completes all the required steps to close an account, their bank has “reopened” the closed account and assessed overdraft and nonsufficient funds fees.
A federal watchdog just cracked down on two companies over accusations of lying to student-loan borrowers and scamming them out of millions of dollars.
NEW YORK, May 9, 2023 /PRNewswire/ -- The gap in volume between robotexts and robocalls widened in April according to Robokiller Insights, as Americans received 13 billion robotexts (an 8% increase vs. March) and 5 billion robocalls (a 13% decrease). Don't count out robocalls just yet, though — historically they slow down in April but pick back up soon after.
Chennai: With job losses and a predicted recession, home mortgage delinquencies are expected to increase in the US, a senior official of mortgage servicing fintech software-as-a-service (SaaS) Sagent said on Monday. The US-based Sagent, backed by Warburg Pincus, has opened its first non-US centre here with a headcount of about 120.
Many investors are bracing for the economic fallout of the deadline for the U.S. to raise the debt ceiling or default on its obligations. Treasury Secretary Janet Yellen on Sunday said that failing to raise the debt ceiling will cause a “steep economic downturn” in the U.S., reiterating the country’s early June deadline.
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