The CFPB ordered Texas money transmitter Maxi to pay a $500,000 fine for allegedly deceiving consumers by saying the company is not responsible for errors made by agents.
Traditional players are getting innovative, and upstarts are becoming more sophisticated. The survivors will be companies that offer consumers an array of easy-to-use services, a venture capitalist says.
A pastor who was falsely arrested for check fraud because of errors made by Wells Fargo employees may be forced to resolve legal claims against the bank in arbitration. The case renews questions about banks' use of the process.
Politics not considered, a spokesman said in response to Dudley’s call for the Fed to stop enabling trade war; the agency lifts a two-year hiring freeze.
Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule.
The Cincinnati bank recently expanded its renewable energy banking business to include investment banking services. Its ambitious goals demonstrate the sector’s growing appeal to regional and community banks.
