The CFPB puts financial “unwanted costs” in the crosshairs

By Jon Hill (January 26, 2022, 5:23 PM EST) – The Consumer Financial Protection Bureau on Wednesday called on the public to disclose their experiences with excessive “unwanted fees” charged by banks and other financial companies under a new agency initiative aimed at reducing costs for consumers.

The agency issued a request for information which CFPB Director Rohit Chopra said is intended to lay the groundwork for the agency’s rulemaking, enforcement and other efforts to push the market. from consumer credit to more transparent pricing and away from hidden fees that can add up. to billions a year.

To that end, the CFPB invites commentators to comment on…

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