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Consumer watchdog signals broad crackdown on hidden fees for banks, credit cards

gdale6
Moderator

Consumer watchdog signals broad crackdown on hidden fees for banks, credit cards

  • The Consumer Financial Protection Bureau issued a request for information on Wednesday asking consumers for input on hidden and excessive fees from a range of lenders.
  • The agency wants to know about “junk” fees associated with consumers’ bank, credit union, prepaid or credit card account, mortgage, loan or payment transfers.
  • The federal agency will use the information to target new rules, issue guidance to financial firms, and focus its supervisory and enforcement resources, it said.

https://www.cnbc.com/2022/01/26/cfpb-signals-crackdown-on-hidden-fees-for-banks-credit-cards.html

Message 1 of 3
2 REPLIES 2
pizza1
Community Leader
Super Contributor

Re: Consumer watchdog signals broad crackdown on hidden fees for banks, credit cards

Thanks for this!!

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Message 2 of 3
Andypanda
Established Contributor

Re: Consumer watchdog signals broad crackdown on hidden fees for banks, credit cards

Hope this hits credit one and other fee harvester cards hard.

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