Payments Dive

JULY 11, 2023

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers with respect to rewards for card applications.

Junk Fees 68

Junk Fees Accounts Credit Cards Regulations 68

Fintech Finance

JULY 19, 2024

In recent years, workers have seen big increases in wages, but junk fees and high rates on financial products not only chip away at these gains – they take advantage of workers,” said Acting Secretary of Labor Julie Su. “As

CFPB 105

CFPB Rules Product Consumer Financial Protection Bureau (CFPB) 105

Innovative Payments Association

JANUARY 10, 2024

The press release goes on to say that the proposed rule will protect consumers from “junk fees” by making” personal financial data available, at no charge to consumers or their agents, through dedicated digital interfaces that are safe, secure, and reliable.”

Junk Fees 52

Junk Fees CFPB Rules Direct Deposit 52

Tearsheet

MARCH 27, 2024

Moreover, there are fears that individuals living paycheck-to-paycheck may now be pushed into incurring bank overdraft fees when confronted with unforeseen expenses. The best case scenario for the consumer is to have banks remove more and more of the junk fees charged by banks,” said Nico Simko, founder and CEO of EWA provider Clair.

Instant Payments 64

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow 64

Evolve Payment

NOVEMBER 21, 2022

Many processors have purposely made it this way so they can hide fees (which we call ‘junk fees’) while reducing the number of questions coming in from their merchants. Choosing the Right Merchant Processing Partner For most merchants, merchant processing is a confusing industry.

Process 52

Process Processors Credit Cards PCI DSS 52

Global Fintech & Digital Assets

MARCH 8, 2024

Representative Maxine Waters, ranking member of the House Financial Services Committee, applauded the Rule and CFPB leadership for “finalizing this critical rule to slash credit card late fees.”

CFPB 59

CFPB Credit Cards Rules Card Issuer 59

Payments Dive

OCTOBER 11, 2023

The Biden administration and the CFPB want banks and other institutions to stop hitting consumers with extra fees. Come February, offenders face monetary penalties.

Junk Fees 89

Junk Fees CFPB Consumer 89

Stax

DECEMBER 2, 2024

In 2024 alone, more than a dozen state legislatures introduced bills related to surcharging and consumer fees generally. Several new laws seek to ban “drip pricing” or “junk fees,” and their uncertain meaning has resulted in confusion among merchants and acquirers. The Minnesota law will go into effect on January 1, 2025.

Junk Fees 68

Junk Fees Credit Cards Push-to-Card Laws 68

Finovate

OCTOBER 28, 2024

From big banks to junk fees A story in today’s Washington Post highlights Vice President Kamala Harris’s tenure as California attorney general and her role in strengthening a “multibillion dollar mortgage settlement” with major banks in the wake of the Great Financial Crisis.

FinTech 59

FinTech Junk Fees Economy Small Business 59