JPMorgan Chase received two enforcement actions from federal regulators on Monday. One was for failures in risk management that led to a multi-billion dollar trading loss. The loss on a derivatives trade was first discovered in May and could be … Continue reading
Tag Archives: Office of the Comptroller of the Currency
LowCards.com Weekly Credit Card Update January 4
Consumer Watchdog Readies to Bare Its Teeth The Consumer Financial Protection Bureau is entering 2013 poised to flex its muscles as it finishes up a list of studies and rules required by the law. They will have wide latitude to … Continue reading
American Express to Pay $112.5 Million in Fines & Refunds
Another day, another major fine for a credit card company. American Express will refund $85 million to customers and pay $27.5 million in civil penalties to settle regulators' accusations that the company violated a number of consumer protection laws. The … Continue reading
Capital One to Pay Soldiers $12 Million in Settlement
Last Thursday, Capital One agreed to pay $12 million in a settlement over alleged violations of special consumer protections for military families. The Office of the Comptroller of the Currency and the Department of Justice took action against Capital One … Continue reading
The First Year Accomplishments of the CFPB
July 21 marked the one year anniversary of the Consumer Financial Protection Bureau. During its first year, the CFPB has proved it is an agency of action and willing to stick up for consumers, particularly credit cardholders. Created to enforce Federal … Continue reading