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CFPB orders Capital One Bank to refund $140 million to consumers
Updated with Capital One's response In its first enforcement action, the Consumer Financial Protection Bureau has ordered Capital One Bank to refund $140 million to about two million customers. On top of that, the bank must pay a $25 million civil...Tags: U.S. Consumer Financial Protection Bureau, Consumers, Richard Cordray, Finance
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Wells Fargo agrees to pay $175M settlement in pricing discrimination suit
About 1,000 Baltimore-area residents are expected to receive thousands of dollars each under a landmark $175 million settlement between the U.S. Department of Justice and Wells Fargo over accusations of discriminatory lending practices.
Under the terms...Tags: Federal Housing Administration, Barack Obama, Civil Rights, Litigation and Regulation, Finance
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Two local banks switch to local regulator
Two Baltimore-area banks have changed their charters so that they will be regulated by the state rather than the federal government, their new regulator said Tuesday. Midstate Community Bank — which had been Midstate Federal Savings and Loan...Tags: Liberty Bank, Harford County, Finance, Banking
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Bank of America to pay $2.5 million to Maryland groups
More than 40 charities, nonprofits and government agencies in Maryland this week will learn if they are to receive anywhere from $5,000 to more than $300,000 as part of a settlement with Bank of America. Just in time for the holidays!
The $67...Tags: Bank of America Corp., Douglas F. Gansler, Banking
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Consumer advocates fear that more traditional banks will be offering payday loans
If you are offered a short-term advance on your paycheck at a triple-digit interest rate, you might think you're being pitched a payday loan — a product that's basically banned in Maryland and other states with rate caps.
But what if that deal came...Tags: Wells Fargo & Co., Money and Monetary Policy, Consumers, Finance, Maryland
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A year in the making, consumers finally get greater protections on financial matters
Consumer advocates aren't getting their first choice to lead the new Consumer Financial Protection Bureau. Despite the setback, this is still a big week for consumer protection. Thursday is the one-year anniversary of the Dodd-Frank Wall Street Reform...Tags: Barack Obama, Consumers, Finance, Justice System, Lawyers
Dec 5, 2012
|Story| Baltimore Sun
Jul 18, 2012
|Story| Baltimore Sun
Jul 12, 2012
|Story| Baltimore Sun
Jun 12, 2012
|Story| Baltimore Sun
Dec 1, 2011
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Aug 22, 2011
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Jul 18, 2011
|Story| Baltimore Sun
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