The CFPB filed a lawsuit against Capital One, claiming the bank deliberately underpaid high-yield savings account holders by $2 billion in interest.
The lawsuit aims to stop the bank’s “unlawful conduct, provide redress for harmed consumers, and impose civil money penalties, which would be paid into the CFPB’s victims relief fund,” according to the agency’s statement. In a response, a Capital One spokesperson said the newer 360 Per...
Capital One said on Monday that the breach affected about 100 million people in the United States and 6 million in Canada, and compromised about 140,000 Social Security numbers and 80,000 bank account numbers. (Reporting by Jonathan Stempel in New York; Editing by Nick Zieminski...
Trendmacro CIO Don Luskin weighs in on DOGE's calls to cut back on bank regulators, the economic impact of mass deportations and housing affordability. The Consumer Financial Protection Bureau (CFPB) is suingCapital One, alleging the bank illegally misled customers by not notifying them of acc...
(RTTNews) - The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, N.A., and its parent holding company, Capital One Financial Corp., alleging that the company cheated millions of consumers of more than $2 billion in int
In its complaint, the regulator named JPMorgan Chase, Bank of America, Wells Fargo, and Early Warning Services. The latter is also co-owned by Capital One, PNC Bank, Truist, and U.S. Bank, which were not named as defendants. In a statement announcing the suit, the CFB...
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The Big Bank With a $15 Billion Conundrum in China; HSBC values its stake in Bank of Communications far above the level implied by the Chinese lender’s stock price Josh Mitchell – The Wall Street Journal HSBC Holdings has a $15 billion headache in China-a big stake in a local lender ...
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The three banks named as defendants in the suit co-own Zelle, along with four other big US banks: Capital One, PNC Bank, Truist and US Bank. Ad Feedback “The nation’s largest banks felt threatened by competing payment apps, so they rushed to put out Zelle,” said CFPB Director Rohit...