The increased consumer costs from the CFPB's rollback of #regulations on #BankFees, wholesale dismissal of cases against #banks & other #lenders & the failure to disburse funds for harmed #borrowers run counter to Trump's pledges to ease the cost of living, acc/to #Student Borrower Protection Center & #Consumer Federation of America.
Since #Trump took control of the #CFPB in Feb, calling for its elimination, admin ofcls have sought to reduce the workforce by about 90% & curtail its oversight.
Tell your MP it's past time to reign in the Big 5 Bank greed: How the Big Five banks are quietly squeezing billions out of Canadians #Canada #cdnpoli #Banks #interestrates #bankfees https://www.corporateknights.com/?p=41359
Financing for CFPB okayed by SCOTUS with Alito and Gorsuch dissenting.
https://news.bloomberglaw.com/us-law-week/cfpbs-funding-system-upheld-by-us-supreme-court-in-biden-win
#Consumer #Lending #BankFees
The financial industry knows how to take advantage when you accidentally overdraw your bank account, charging up to a $35 fee for a single overdraft. Sign this petition supporting the Consumer Financial Protection Bureau’s plan to cut overdraft fees to $14 or less, and require banks to clearly disclose upfront what the full costs are.
#USPolitics #economy
#consumerprotection #bankfees
#junkfees
https://action.consumerreports.org/nb-20240227-cfpboverdraftfees
Effective Interest Rate of Service Charges
If you are paying a lot in monthly service charges for your bank account what is your actual effective interest rate? #Negative #LessThanZero
#bankfees #servicecharges
https://www.canajunfinances.com/2024/03/20/effective-interest-rate-of-service-charges/
