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Nine Banks to be Investigated by CFPB
The Consumer Financial Protection Bureau, which was established in July of 2010, announced it will be investigating the overdraft protection policies of nine US banks. The bureau is looking to see if these banks are using confusing marketing techniques to persuade customers to enroll into the programs. Regulators created rules two years ago to protect [...] Continue reading
Bank of America Offers Renting as Alternative to Foreclosure
Bank of America is considering growing a conscience and exploring alternatives to foreclosures. The bank announced they are piloting a limited “Mortgage to Lease” program, where homeowners at risk of foreclosure can become renters to stay in their home. The bank is not accepting applications for the program, but they will select up to 1,000 [...] Continue reading