Banks Feed

Trump administration rushing to reverse hundreds of rules before Trump leaves office

One of President Donald Trump’s big goals when he was elected was to cut regulations and reduce the size of the federal government. Trump claimed when campaigning that regulations were harmful to American businesses and Wall Street. Read more →


Predatory lenders will take advantage of new federal rule allowing higher interest rates, consumer group says

The True Lender Rule, which questions the power of state governments to regulate interest rate limits, will unleash predatory lending in 50 states. The rule, approved by the Office of the Comptroller of the Currency, would protect predatory, nonbank lenders from state enforcement. Read more →


Covid-19 complaints flood FTC, other agencies as cases of coronavirus mount

Consumer coronavirus complaints to the FTC have grown to more than 200,000, with more than $140 million in fraud losses. Since the covid-19 outbreak began, the top complaint categories are online shopping, travel, credit cards, banks and lenders, and credit bureaus. Read more →


In this year of change, the changes keep coming

I should have been more prepared. The Australians warned us. The wildfires they experienced during their summer fire season were the worst in history. But here I am. Not only staying home due to covid-19, but now, I have to stay inside due to smoky air from wildfires. Read more →


Watch out for phony offers for work-at-home jobs targeting college students

Students at colleges and universities are being targeted by a work-at-home employment scam through emails that appear to be sent from a college or university. The scammers obtain personal information from the student while posing as a college or university representative. Read more →


Tips for delaying mortgage payments in the era of coronavirus

If you’re unable to make your mortgage payments due to the pandemic, you could lose your home to foreclosure. Federal lenders and some private lenders are offering borrowers temporary help, such as stopping or delaying foreclosure or modifying the mortgage. Read more →


Corporate leaders and conservative shock jocks pressure Trump to open the economy soon, report shows

A group of billionaires, corporate executives, and conservative commentators has been urging the rollback of social distancing recommendations, despite health warnings. The group is ignoring the devastating health consequences of its recommendations. Read more →


Federal financial agency charges Fifth Third Bank with opening unauthorized accounts and signing consumers up for unapproved products and services

The Consumer Financial Protection Bureau filed a lawsuit in Illinois Monday against Fifth Third Bank, one of the largest banks in the Midwest. The CFPB alleges that for several years Fifth Third, without consumers’ knowledge or consent, added services consumers didn't approve. Read more →