The ruling, which went into effect this week, requires businesses to make canceling a subscription as easy as signing up for it in the first place.

Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.

The Consumer Financial Protection Bureau has imposed a $15 million fine on Equifax, a consumer reporting agency, for failing to adequately investigate consumer disputes regarding credit reports.

Melissa Holyoak, an FTC commissioner known for her ties to tech giants like Google, is being considered for director of the consumer watchdog agency that is challenging Big Tech.

The CFPB is widely seen as a key ally of American consumers, but critics say it costs too much and stifles innovation.

While there have been some consumer wins during Biden’s tenure, there are some rules that are tied up in court. Advocates are hoping that consumer protection remains a priority for the current administration, but they also have a clear common message for consumers – pay attention.

Background, Purpose, and Structure of the Proposed Rule - On January 13, 2025, the Consumer Financial Protection Bureau (CFPB) published

The U.S. Consumer Financial Protection Bureau announced on Friday it had fined credit reporting bureau Equifax $15 million for failing to sufficiently investigate consumer disputes of its credit reports.

The Federal Trade Commission (FTC) is responsible for enforcing federal laws that protect consumers and promote competition. This includes both consumer protection and antitrust laws at the federal level.

"By offering predatory credit with just a few taps on your cell phone, cash advance apps are a loan shark in your pocket .. cash advance app borrowers are trapped in a cycle of debt like that experienced by payday loan borrowers," Candice Wang, senior researcher at the Center for Responsible Lending, said on the group's website.

Inflation, rising costs, and financial scams are taking a toll on service members and their families. Consumer Investigator Caresse Jackman examines the unique financial pressures military families face and the strategies to overcome them.

Created at the behest of Senator Elizabeth Warren (D-MA), the Consumer Financial Protection Bureau (CFPB) has the ostensible goal of protecting people from bad actors and practices in the financial marketplace.