A firm settled FINRA charges for failing to supervise the transmittal of customer funds by representatives with power of attorney and for failing to respond to red flags involving unsuitable trading recommendations.
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The Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association and two Texas business groups challenged the CFPB on the recently adopted final rule restricting credit card penalty fees.
The Consumer Financial Protection Bureau issued a final rule to restrict credit card late fees, which marks the latest expansion of the Biden Administration’s "junk fee" initiative.
The NFA submitted to the CFTC proposed changes to compliance rules, bylaws and interpretive guidance related to Member Questionnaires requirements.
The CFPB proposed a rule to prohibit covered financial institutions from charging fees, such as nonsufficient funds fees, when consumers initiate payment transactions that are instantaneously declined.