Consumer Protection
Doxo fined $2 million for using misleading search ads
The firm allegedly disguised itself as the official payment channel for legitimate businesses.
Consumer Protection
It's a little hard to define but for our purposes, this section is all about consumer protection -- regulatory actions, laws, class actions and anything that helps take the edge off.
Consumer Protection
CFPB will stop publishing consumers' stories about banks and lenders
The Consumer Financial Protection Bureau says it will stop publicly posting the detailed narratives consumers submit with complaints about banks, lenders, credit bureaus, debt collectors and other financial companies.
Consumer Protection
Warning: Gold bar scam targeting seniors
Pop-up messages claim victims' computers or financial accounts have been compromised.
Money
Is gold a wise investment for smaller investors?
Consumers are constantly bombarded with come-ons for gold investment "opportunities." Some of these are downright fraudulent and the rest are a big, shall we say, optimistic. Here's what the experts tell us.
Consumer Protection
CFPB examiners warned against being 'too aggressive' with the firms they're supposed to regulate
An internal CFPB email obtained by Reuters warned examiners that there could be "most unpleasant" consequences if they were overly aggressive in their dealings with financial institutions.
Consumer Protection
Homeowners got cash with ‘no interest.’ Lawsuit says the real cost was their home equity
A new class-action lawsuit accuses Unison of disguising high-cost mortgage loans as “home equity investments” with no interest or monthly payments.
Consumer Protection
Before you sign a home-equity sharing agreement: 7 numbers to calculate
What does "home equity sharing" really mean? Is it just like a loan?
AI/Privacy
Meta ordered to pay $567 million — and change Facebook and Instagram to protect children
A New Mexico judge ordered Meta to pay $567 million into programs addressing harms to young people, bringing the company’s liability in the state case to $942 million.
Consumer Protection
Payday lender’s bank deal could bring loans charging up to 195% APR to every state
OppFi is seeking federal approval to acquire BNC National Bank, giving the high-cost lender control of a national bank charter
Consumer Protection
How to recognize a payday loan disguised as an installment loan
When is an installment loan really a payday loan in disguise? Answer these questions to find out.
Consumer Protection
California’s new consumer agency targets junk fees, kickbacks and ‘corrupt practices’
Former CFPB Director Rohit Chopra says California will pursue companies that use illegal fees, hidden kickbacks and manipulative schemes to drive up consumer costs.
Consumer Protection
Where California consumers should complain
California is stepping up its consumer protection efforts as federal agencies back away from energetic enforcement. With former CFPB director Rohit Chopra at the helm of the new agency, the new agency is expected to tighten existing rules and enact new ones.