House Republicans are expected to block the Consumer Financial Protection Bureau's (CFPB) rules on overdraft fees and 'larger participant' regulations today, continuing their campaign to make banking and digital finance more difficult, risky, and expensive for Americans.
House Financial Services Committee Republicans accepted over half a million dollars from financial industry groups opposed to the CFPB’s overdraft rule
This move will cost American families that pay overdraft fees an average of $225 annually
Overdraft fees could soar as high as $35, costing households up to $225 annually
During a hearing today, the Republican-led House Financial Services Committee (HFSC) will consider raising costs on American families yet again by beginning the process to block the Consumer Financial Protection Bureau's (CFPB) overdraft late fee rule and open the door for $35 overdraft fees
During today’s U.S. Senate Committee on Commerce, Science, and Transportation confirmation hearing for Sean Duffy, the President-elect’s choice to lead the U.S. Department of Transportation failed to resolve concerns around a major conflict of interest he could face after lobbying for the same airlines now suing the agency to overturn rulemaking
As part of its ongoing fight to lower costs for American families, the Consumer Financial Protection Bureau (CFPB) is cracking down on potentially illegal credit card reward scams, warning that some credit card companies may be taking advantage of customers by devaluing rewards while continuing to charge higher than average interest rates.
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