Republicans have long targeted the Consumer Financial Protection Bureau for elimination. It survives, for now, but has ...

CFPB ordered Navy Federal in November 2024 to pay $80 million to service members unfairly charged overdraft fees. CFPB ...

In the nearly six months since the Trump administration has had control of the Consumer Financial Protection Bureau, the ...

Judges and lawmakers have now reversed many of former President Joe Biden's attempts to restrict companies from practices his administration said hurt consumers.

When Navy Federal entered into its settlement with the CFPB, it not only agreed to the repayments and the fine, but also to stop charging the banned overdraft fees. Both former CFPB officials who ...

Navy Federal Credit Union will no longer have to refund $80 million to servicemen and women for illegally charging them overdraft fees on their accounts, after the President Donald Trump-led ...

The CFPB had alleged that from 2017 to 2021, Navy Federal collected nearly $1 billion in overdraft fees and an average of $44 million a year in surprise overdraft fees. The bureau claimed that Navy ...

Under its previous settlement, Navy Federal would have needed to pay a $15 million fine to the CFPB and refund $80 million in illegally paid overdraft fees.

How CFPB said NFCU collected overdraft fees. According to a CFPB press release issued last November, Navy Federal charged consumers $20 for most overdraft transactions through its “Optional ...

In 2023, banks made $5.83 billion in overdraft and NSF fees, according to CFPB. Big banks in particular have lost billions in overdraft and NSF revenue between 2019 and 2023.

By KEN SWEET, Associated Press. NEW YORK (AP) — Navy Federal Credit Union will no longer have to refund $80 million to servicemen and women for illegally charging them overdraft fees on their ...