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The Consumer Financial Protection Bureau (CFPB) on Wednesday warned that credit card companies devaluing or canceling reward points, cash back or miles rewards programs may be breaking the law.
More than 4 million Americans gouged by credit repair companies including Lexington Law and CreditRepair.com will soon collectively receive $1.8 billion in refund checks, the Consumer Financial ...
The case targets Early Warning Services, which runs the platform, along with Bank of America, Wells Fargo, and JPMorgan Chase, three of the seven banking giants that sit on its board.
FHA loans, a federal mortgage program, went to the white majority and reached few minorities. In a study done in Syracuse, between 1996 and 2000, of the 2,169 FHA loans issued only 29 or 1.3 percent went to predominantly minority neighborhoods compared with 1,694 or 78.1 percent that went to white neighborhoods. [ 11 ]
Payment is generally made to the user in the form of bank transfers, gift vouchers, online sites such as PayPal, bank checks, mobile recharges or online orders at the request of the user. Some cashback websites place a threshold on a customer's account such that a user may need to make several transactions in order to be able to receive a reward.
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as ...
In 2023, customers filed 417 complaints to the Consumer Financial Protection Bureau over the bank's checking and savings accounts, a dramatic increase from 150 in 2018.
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of the banks's assets to JPMorgan Chase , which planned to write down the value of Washington Mutual's loans at least $31 billion.