Current Industry News
FTC Takes Action Against Bill Payment Company Doxo for Misleading Consumers, Tacking on Millions in Junk Fees
The Federal Trade Commission is taking action against bill payment company Doxo and two of its co-founders, charging that the company uses misleading search ads to impersonate consumers’ billers and deceptive design practices to mislead consumers about millions of dollars in junk fees they tacked on to consumers’ bills.
CFPB Head Says FDIC Should Review More Changes in Bank Control
The Federal Deposit Insurance Corp. (FDIC) should change its rules to ensure that it reviews any “suspicious changes” in bank control, FDIC board member Rohit Chopra said Thursday (April 25). Chopra, who is also director of the Consumer Financial Protection Bureau (CFPB), said during an FDIC board meeting that changes to the Bank Control Act are needed because bank takeovers can currently evade FDIC oversight.
25 States With the Highest Credit Card Debt in the US
In this piece, we will take a look at the 25 states with the highest credit card debt in the US. If you want to skip our overview of US consumer spending and recent economic trends that should worry consumers, analysts, and policy makers, you can take a look at the 10 States With the Highest Credit Card Debt in the US.