consumer protection

Treasury Secretary Bessent, tapped to run CFPB, orders staff to halt work

1:40pm February 03, 2025

The staff at the Consumer Financial Protection Bureau was instructed by email to cease much of its work. Bessent, a wealthy Wall Street investor, replaces Rohit Chopra, who was fired on Saturday.

Under President Trump, the Consumer Financial Protection Bureau weakened a rule that aimed to protect people who get payday loans. Consumer advocates say they are looking forward to a Biden administration strengthening the agency.

Financial Watchdog Expected To Get Its Teeth Back Under Biden

3:54pm November 18, 2020

by Chris Arnold

The Consumer Financial Protection Bureau is a powerful agency policing predatory or unfair practices. Trump hobbled it. But a court ruling allows Biden to appoint a new sheriff at the bureau.

Queue Listen Now

California Assembly member Monique Limón (foreground) introduced a bill to create a financial watchdog agency for the state.

New California Financial Watchdog Would Take Aim At Predatory Lenders Amid Pandemic

10:40am August 14, 2020

by Chris Arnold

California may be on the cusp of creating a watchdog agency. Proponents say federal regulators aren't doing their job, leaving leaving millions of Americans vulnerable during the coronavirus crisis.

Queue Listen Now

Sen. Elizabeth Warren arrives at a confirmation hearing before the Senate Armed Services Committee on March 1.

Politics & Government

Elizabeth Warren To Consumer Chief: 'You Owe The Public Straight Answers'

5:35pm April 27, 2018

by Chris Arnold

On Thursday, the senator sent a scathing letter to the head of the Consumer Financial Protection Bureau, the agency she helped build.

The Trump administration's decision is being lambasted by consumer rights organizations and members of the U.S. Senate.

National

DOT Suspends Proposed Rule Requiring Airlines To Show Baggage Fee At Booking

12:39pm December 12, 2017

by Rebecca Feldhaus Adams

Late last week, the Department of Transportation announced it would withdraw proposed measures that would require airlines to show the full cost of booking, including baggage, at ticket purchase.

Passengers at Chicago's O'Hare International Airport wait in line for security screening in May 2016. A study released Monday found that U.S. airline quality is higher than ever, but air travelers may disagree.

Have An Airline Complaint? Don't Call The Airline — Tell The Dept. of Transportation

5:58pm April 10, 2017

by Laurel Wamsley

An annual study gives airlines the highest scores for quality in the 26 years the ratings have been compiled. But the ratings don't fully reflect the experience of the American air traveler.

Consumer Financial Protection Bureau Director Richard Cordray says financial firms use arbitration to

New Rule Would Make It Easier For Consumers To Sue Banks

1:36pm May 05, 2016

by Chris Arnold

The Consumer Financial Protection Bureau proposed banning financial firms from forcing arbitration to avoid lawsuits. But industry officials say the rule will lead to frivolous legal action.

Queue Listen Now

President Obama remarks on his proposal to tighten consumer protections for people saving for retirement as Sen. Elizabeth Warren and Labor Secretary Tom Perez listen, at AARP on Monday.

White House Move To Protect Nest Eggs Sparks Hopes And Fears

12:58pm May 14, 2015

by Chris Arnold

The Labor Department will draft new rules requiring retirement advisers to put consumers' best interests first. The industry warns that low-income people might lose out on financial planning advice.

Queue Listen Now