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New law will outlaw so-called "rent-a-bank" lending that allowed 225% interest rates. A new Colorado law will effectively outlaw the practice of "rent-a-bank" lending that has allowed nonbank lenders to charge interest rates of up to 225% on short-term loans.

Funds may not be insured, consumers could lose deposits. The Consumer Financial Protection Bureau (CFPB) is warning that consumers who use popular payment apps such as PayPal, Venmo, CashApp and others could be putting funds as risk as these apps do not always contain bank-level deposit insurance. The CFPB notes that many consumers, especially younger consumers, utilize such apps as a primary source of storing and expending funds.

Center for Responsible Lending calls on other states to follow suit. A consumer advocacy group that focuses on fairness in the financial marketplace is applauding a new Minnesota law that caps annual interest rates on payday loans at 36%.

Avid Telecom, a telecommunications company, is facing legal action as attorneys general across the United States have filed a lawsuit against the firm. The lawsuit accuses Avid Telecom, its owner Michael D. Lansky, and company vice president Stacey S. Reeves of calling more than 7.5 billion people on the federal Do Not Call Registry through robocalls. The impact of these unwanted calls on American customers is discussed in this article, which digs into the specifics of the complaint.

Bank failed to provide refunds to customers and ignored fraud complaints. Citizens Bank, large, regional bank with headquarters in Rhode Island, has been fined $9 million by the Consumer Financial Protection Bureau (CFPB) for its improper handling of customer credit card disputes. The misconduct by Citizens includes improperly dismissing fraud complaints and failing to provide refunds to customers even when it was established those refunds were owed.

Consumer Financial Protection Bureau commended for tackling economic justice issues. Consumer advocacy group Public Citizen is applauding the work of the Consumer Financial Protection Bureau (CFPB) in advancing an agenda that promotes racial equity in the financial marketplace.

Recently, a family has taken legal action against the renowned fast-food chain McDonald's, alleging that their young daughter suffered severe burns caused by a chicken nugget. The incident has sparked controversy and raised concerns about product safety within the fast-food industry.

Investigations find app-based lender charging interest rates in excess of 500% for short-term loans. California, Connecticut, and the District of Columbia have all taken action against fintech lender SoLo Funds as a result of the app-based, peer-to-peer lending outfit using "tips" to disguise the true cost of its loan products. Investigations by regulators in all three jurisdictions found SoLo charging interest rates in excess of 500%.

Groups applaud move to regulate fintech lenders, call for greater consumer protections. A pair of consumer advocacy groups is calling on the California Department of Financial Protection and Innovation (DFPI) to take steps to rein-in interest rates on so-called Earned Wage Access loans.

Advocacy groups across the political spectrum unite to oppose HB 73, a bill that would end consumer protections around lawsuit funding. A coalition of groups with diverse political perspectives has emerged to oppose HB 73, legislation that would change the landscape of the legal financing industry and remove some key consumer protections.

In a significant development for consumers who felt duped by TurboTax’s marketing strategies, Attorney General Aaron Frey announced that checks from a $141 million multistate settlement will soon be sent out. Approximately 4.4 million consumers nationwide fell prey to what Frey termed a "classic bait and switch" tactic by Intuit, the owner of TurboTax.

Federal regulator now taking action to prevent these scams. The Consumer Financial Protection Bureau (CFPB) is now taking action to protect banking consumers from fee harvesting conducted when banks reopen previously closed accounts in order to assess and collect fees.

Advocates urge Supreme Court to uphold funding for Consumer Financial Protection Bureau. A collection of consumer advocacy groups is calling on the U.S. Supreme Court to uphold the current funding structure of the key federal watchdog agency in the consumer finance marketplace. The groups, including Consumer Federation of America (CFA) and the Center for Responsible Lending (CRL) are highlighting the work of the CFPB while also pointing to broad implications if the funding structure is overturned.

Economic justice group cheers Solicitor General's case in favor of controversial funding model. An advocacy group focused on economic justice is commending the U.S. Solicitor General for a recently filed brief defending the constitutionality of the funding mechanism used to support the Consumer Financial Protection Bureau (CFPB).

Illinois consumers are set to receive checks as a result of the TurboTax settlement. The software company has agreed to pay $6.5 million to the state in response to allegations of misleading marketing practices. The company has denied any wrongdoing but has settled to avoid further legal disputes.

TD Bank chided by advocates for excessive overdraft fees. The Center for Responsible Lending (CRL), consumer advocacy group focused on finance and banking issues, is cheering the collapse of a proposed merger between TD Bank and First Horizon as the two banks announced today they are terminating their agreement.

Advocacy groups express support for Consumer Bureau effort to curb fees. A coalition of consumer groups is expressing support for an effort by the Consumer Financial Protection Bureau (CFPB) to cap credit card late fees at a maximum charge of $8.

Consumer bureau creates new protections for homeowners financing clean energy upgrades. Converting a home that uses traditional energy sources to one that relies on clean energy can mean long-term savings for a homeowner - but those savings often come at a steep upfront cost. A federal program exists that is designed to help homeowners make the clean energy switch, but until now, loans made under this program lacked significant consumer protections.

House GOP seeks to weaken Consumer Financial Protection Bureau. A broad coalition of consumer advocacy groups is calling on members of the U.S. House of Representatives to reject efforts to weaken the Consumer Financial Protection Bureau (CFPB).