Consumer Protection

Wells Fargo Bank will lose customers in droves because of the scandal over fraudulently opened accounts and other issues, based on the results of an online survey cg42 conducted last week. More than 85 percent of the respondents -- 1,500 primary customers of the top 10 U.S. retail banks, including 1...

The United States Federal Communications Commission on Wednesday announced that T-Mobile has agreed to a penalty of $48 million for misleading customers about restrictions on its so-called unlimited data plans. The company failed to inform subscribers to unlimited plans on its wireless networks and ...

Anyone who works with sales people knows that their ultimate incentive is their commission check. Since the first time that "sales" was identified as a profession, we've been paying the people who sell based primarily on their results. This has worked well -- but things are starting to change. The d...

The Consumer Financial Protection Bureau on Tuesday released its August complaint snapshot, which indicates that consumers across the country have been filing a large number of complaints about access to banking services. Further, many consumers complained that when they tried to open new accounts, ...

Fox News journalist John Stossel, who recently underwent an operation for lung cancer, on Wednesday wrote that although New York-Presbyterian Hospital's medical care is excellent, "the hospital's customer service stinks." Doctors "keep me waiting for hours, and no one bothers to call or email to say...

The Consumer Financial Protection Bureau last week ordered Citibank and its subsidiaries to pay about $700 million in relief to eligible consumers and a $35 million civil penalty for, in essence, scamming consumers into paying for unwanted credit card add-on products and services. This is the 10th a...

Tens of millions of American consumers use consumer financial products or services governed by predispute arbitration clauses that may put them at an unfair disadvantage, suggests a United States Consumer Financial Protection Bureau report released last week. In some cases, the arbitration clauses...

The United States Consumer Financial Protection Bureau has made great strides in carrying out its mission, which is to ensure consumers are fairly treated in the financial marketplace, Director Richard Cordray said Tuesday in delivering the bureau's semiannual report at a House Financial Services he...

Credit card users may be dismayed by findings MIT Researchers reported last week in the journal Science: Just a few pieces of vague non-identifying information, namely the dates and locations of four purchases, were enough to identify 90 percent of people in a data set of 1.1 million credit card use...

The Consumer Financial Protection Bureau has introduced Owning a Home, a set of online tools designed to make it easier for consumers to comparison shop for the best deal in mortgage financing.

The U.S. Consumer Financial Protection Bureau has issued an advisory warning consumers about the risks of Bitcoin and other virtual currencies. The bureau "is working to identify and understand potential consumer protection concerns raised by these emerging technologies to determine what action, if ...

Amazon's reputation for stellar customer service could become tarnished if its current flap with the FTC gets out of hand. The FTC is suing Amazon for permitting children to make millions of dollars in unauthorized purchases through its Appstore. Similar accusations have been circulating for years, ...

As many as a quarter of the world's consumers were victimized by card fraud in the past five years, and financial institutions are losing customers as a result, suggests ACI Worldwide research.