Today, the Federal Deposit Insurance Corporation is taking an important step to reduce bailout risk among a group of systemically important financial institutions and guard against increasing concentration in banking. In conjunction with the Federal Reserve Board of Governors, the FDIC Board of Directors is issuing an Advanced Notice of Proposed Rulemaking to help prepare for a potential failure of a very large bank that isn’t one of the big Wall Street banks.
WASHINGTON, Oct. 18, 2022 - The U.S. Department of Agriculture (USDA) today announced that distressed borrowers with qualifying USDA farm loans have already received nearly $800 million in assistance, as part of the $3.1 billion in assistance for distressed farm loan borrowers provided through Section 22006 of the Inflation Reduction Act (IRA).
Attorney General Paxton joined a multistate investigation into Bank of America Corporation, Wells Fargo & Company, Morgan Stanley & Co. LLC, JPMorgan Chase & Co., The Goldman Sachs Group, Inc., and Citigroup Inc. for potential violations of consumer protection laws.
This issue brief examines how overdraft fees affect economically insecure older adults. An overdraft occurs when a consumer has insufficient funds in their account to cover a transaction, but the financial institution nevertheless pays it. Most financial institutions today charge a fee, which can be as high as $36, for overdraft transactions.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) sued the online event registration company ACTIVE Network for tricking people trying to sign up for fundraising road races and other events, into enrolling into its annual subscription discount club, Active Advantage. The CFPB’s lawsuit describes how ACTIVE automatically and unlawfully enrolled families into its discount club by using digital duplicity.
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