Links in “Banks”

$20 billion TCF Financial of Minnesota disclosed that the CFPB is looking into the opt-in practices associated with the company's checking account overdraft program. [11/6/15]

Three examples of data threats and what your bank can do to proactively defend against them. [11/5/15]

Now the CFPB is extending its reach to include a college accrediting organization. [11/5/15]

Servicers have long been at the top of the CFPB's hit list. But the latest supervisory report contains signals that that may be changing. [11/4/15]

The flood of breached data has depressed the market to the point where basic credit card info is worth only a few dollars each. But add date of birth, and the value jumps to $15 each. Throw in billing address, user name, and password, and the price goes up to $30-$45 each. Full banking services sell for about 8% of the account balance. [11/4/15]

CFPB's director reports on the agency's successes over the past few months, stating that it will "continue to shine light on the problems we observe," especially servicing, consumer reporting, debt collection. [11/4/15]

FTC is expected to announce today an initiative to crack down on the debt collection industry. [11/4/15]

Mobile banker Trojans increased fourfold in just a single quarter. [11/3/15]

Avant, the quickest online-loan startup to reach $1 billion, has only one product: installment loans for people with a few dings on their credit report. Its founder doesn't call them subprime, he calls them the "underbanked middle class," and intends to see his company become "the Amazon of financial services." Will his business model hold up? [11/3/15]

Calling arbitration clauses "a way to circumvent the courts," the New York Times ignores the data that show consumer arbitration is faster, less expensive, and far more beneficial than class action litigation. [11/3/15]