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Over the past decade, we have seen a significant incursion into consumer deposit taking and payments activities by companies that aren’t banks or credit unions. These firms want the public benefits of being a bank or credit union, without the public obligations.

Today, the FDIC Board of Directors is voting to finalize its policy statement on bank mergers.

Consumer Financial Protection Bureau Director (CFPB) Director Rohit Chopra issued a statement following a U.S. Department of Transportation inquiry into airline rewards programs.

Industrial banks require special attention from the FDIC Board of Directors given the unique risks they pose.

When a Wall Street bank repeatedly violates the law, the banking agencies impose a fine that typically constitutes a small fraction of the firm's annual profits.

There’s no question that our economy and society rely on banks just like we rely on our power grid and our transportation network. Congress put in place guardrails to ensure the ownership and control of this critical infrastructure promotes resiliency and is free of conflicts of interest.

Regulatory amnesia consistently afflicts the banking agencies. Today, the FDIC Board of Directors is cleaning up the unwise and unlawful mistakes the agency made in 2020 related to a risky type of deposit funding.

The United States recently renewed its special ties with the Federated States of Micronesia, the Republic of the Marshall Islands, and Republic of Palau, collectively the Freely Associated States.

Since the creation of the CFPB, the agency has returned $20.7 billion to consumers through law enforcement activity and created unquantifiable returns for the over 205 million Americans harmed by the illegal practices that we have stopped.

Since the creation of the CFPB, the agency has returned $20.7 billion to consumers through law enforcement activity and created unquantifiable returns for the over 205 million Americans harmed by the illegal practices that we have stopped.

CFPB Director Rohit Chopra issued a statement on the proposed rules regarding Wall Street compensation and bonuses.

CFPB Director Rohit Chopra issued a statement on the “captive consumer” model of health savings accounts (HSAs).

As Americans suddenly realized they could not withdraw their funds from Sam Bankman-Fried’s FTX in November 2022, they wondered whether they would ever get their money back. In FTX’s bankruptcy filing was an unusual item: a deposit account held by FTX worth roughly $50 million at Farmington State Bank.

On July 17, 2023, Rohit Chopra, Director of the United States Consumer Financial Protection Bureau, and Didier Reynders, Commissioner for Justice and Consumer Protection of the European Commission, announced the start of an informal dialogue between the European Commission and the CFPB on a range of critical consumer financial protection issues.

General Counsel of the CFPB Seth Frotman provided a statement regarding the National Consumer Law Center / National Association of Consumer Advocates Spring training.

CFPB Director Rohit Chopra provided a statement on the Banking in Video Games and Virtual Worlds report.

The CFPB is working to be a leader when it comes to building agency capabilities to address transformative technologies.

On March 8, 2024, CFPB Director Rohit Chopra submitted a comment to the Appraisal Subcommittee regarding oversight of The Appraisal Foundation.

The Consumer Financial Protection Bureau is taking action to rein in junk fees on credit cards, increase competition, and put billions of dollars back in the pockets of American families.

CFPB Director Rohit Chopra releases a statement in response to President Biden’s Executive Order to protect Americans’ sensitive personal data.

In March 2020, the federal government announced that payments in connection with federal student loans owned by the U.S. Department of Education would be suspended, and interest would be waived for the duration of the suspension.

The FDIC Board of Directors is voting on a final rule to update the framework governing official FDIC signs and advertising requirements, as well as misrepresentations related to federal deposit insurance.