PYMNTS

OCTOBER 31, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Accounts 59

Accounts Federal Reserve Deposit Account CFPB 59

PYMNTS

NOVEMBER 14, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Deposit Account 60

Deposit Account CFPB Push-to-Card Accounts 60

PYMNTS

DECEMBER 14, 2016

According to an investigation by the CFPB, Wells Fargo employees not only made fake deposit accounts but also submitted 565,443 unauthorized credit card account applications on behalf of unknowing customers. It’s estimated that 14,000 of those accounts accrued $403,145 in fees.

Deposit Account 53

Deposit Account CFPB Credit Cards Governance 53

PYMNTS

JULY 15, 2016

It’s as quiet as a hot summer night, as the prepaid industry awaits the final ruling from the CFPB. That sets up one of the biggest areas of contention from the standpoint of the prepaid card industry: the majority of users perceive and use prepaid cards no differently than a standard demand deposit account.

CFPB 40

CFPB Push-to-Card Rules Deposit Account 40

Fintech Labs Insights

MARCH 4, 2019

youth to obtain a credit card. So most rely on debit cards for spending. However, debit cards don’t help in establishing credit for the estimated 45 million American adults without a credit score ( see note 1 ). It used to be easy (perhaps too easy) to get your credit established.

Origination 12

Origination Credit Union Push-to-Card Debit Card 12

FICO

JANUARY 26, 2022

Mix in the fact that many consumers – enabled, in part, by historic levels of savings at least partly driven by government stimulus such as enhanced unemployment benefits – have shifted their focus to paying down their credit card debt, and the result is a greater than 10% decrease in the average credit card balance and utilization of the U.S.

Credit Cards 52

Credit Cards Demand Deposit Account (DDA) Credit Risk Consumer 52

FICO

JANUARY 26, 2022

Data & Analytics: Define a broad range of input sources available for collections specific decisioning including collections activity data, account performance from initial entry to a past due state, collections transactional data, and relevant alternative data sources. More Digital Communication. Comprehensive Insight Is Key.

Posting 52

Posting Consumer Financial Protection Bureau (CFPB) CFPB Government 52