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Wells Fargo Reaches $3.7b Deal with US CFPB

by Starling Insights

Observations

Dec 29, 2022

Wells Fargo has reached a $3.7 billion deal with the Consumer Financial Protection Bureau (CFPB) to resolve allegations that it harmed more than 16 million people with deposit accounts, auto loans, and mortgages. According to the CFPB, the bank illegally assessed fees and interest charges on loans for cars and homes, leading some vehicles to be repossessed unlawfully.

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UK FCA to Introduce New Consumer Duty of Care

by Starling Insights

Observations

Dec 10, 2021

The UK Financial Conduct Authority (FCA) is concerned that financial services don't always work well for consumers and, in fact, it observed a number of common practices by some firms that cause consumer harm.

All Tags UKUK FCA