Officials in North Las Vegas are looking to use a law designed for physical emergencies to address its fiscal crisis.
Financial Reform
At an event in Durham, N.C. on Wednesday, Consumer Financial Protection Bureau director Richard Cordray announced that the agency is “decid[ing] how we should go about regulating prepaid cards to better protect consumers and to provide clear rules for prepaid providers.” The rapidly growing prepaid market is attracting both banks and non-banks, and more Americans, especially [...]
Last week, the post office announced that rather than close thousands of rural post offices around the country to cut costs and reduce a ballooning deficit, it would drastically reduce hours at many of those locations. Some, in fact, would now be open for as little as two hours a day.
The Consumer Financial Protection Bureau is testing a new website that it hopes will answer all your money questions in the near future. Here’s your chance to let them know what you need most.
A yearlong investigation by the Columbus Dispatch has uncovered systemic flaws in the data collection and dispute resolution processes used by the credit bureaus. For Americans who find errors in their credit files, this can mean months of frustration trying to get the mistakes corrected. And during that painful process, many people are denied credit cards, [...]
One of the most contentious parts of the Dodd-Frank financial reform legislation enacted in the wake of the credit crisis was the Durbin Amendment. You may not know it by name, but you know its primary effect: higher bank fees. It’s also the reason behind those infamous debit card fees banks were threatening to implement [...]
The latest proposal to save the financially strapped U.S. Postal Service would allow it to ship beer and wine, overturning a temperance-era law that has been on the books for more than a century.
While you’ve been pretending to read the fine print on everything from your cell phone contract to your Starbucks card, companies have been slipping in legalese that robs you of your rights.
Federal Reserve rules implemented in 2010 were supposed to protect customers from getting hit with overdraft fees if they unwittingly made a purchase that put their account in the red. Now, two years later, banks are still raking in billions, and overdraft fees have hit an average of $30, an all-time high. If you’re wondering [...]
The Consumer Financial Protection Bureau is taking aim at the mortgage industry again, this time focusing on making mortgage servicers provide customers with better and more transparent information about their home loans.
Do we really want to take financial advice from a bunch of kids living in tents? Surprisingly, we just might.
