Opendoor promised consumers they’d make more money selling a home to them than they’d make on the open market. However, that wasn’t the reality, according to the FTC. Opendoor promoted itself as tech company that uses its pricing technology to offer more accurate offers and lower costs.
T-Mobile has entered into an agreement to settle a consolidated class action lawsuit on claims related to a 2021 cyberattack involving unauthorized access to the company’s systems, the company reported in a filing Friday with the Securities and Exchange Commission.
Hyundai Capital America is being fined for repeatedly providing inaccurate information to credit reporting companies and failing to address inaccurate information when it was identified between 2016 and 2020, the Consumer Financial Protection Bureau announced Tuesday.
The Consumer Financial Protection Bureau is launching an initiative to improve the customer service experience at big banks. The bureau wants to hear from consumers and businesses about their experiences dealing with customer service at their bank or credit union – both the good and the bad.
Bank of America will pay $250 million for botching the disbursement of state unemployment benefits at pandemic’s height. The bank froze people’s accounts with a faulty fraud detection program, and then gave them little recourse when there was no fraud, the Consumer Financial Protection Bureau said Thursday.
When a consumer product goes bad – whether it’s a motor vehicle, home appliance, or something else – and it’s under warranty, you may want to take it to where you purchased it for repair. Or, you may choose an independent repair shop or a do-it-yourself solution.
The Consumer Financial Protection Bureau is looking at how consumers can get better customer service from big banks. Consumers have the right under federal law to get timely responses when they ask for information about their accounts at large institutions.
Charles Schwab Corp. will pay a record $187 million to settle charges that it didn’t tell clients about the hidden costs of its robo-advising product, which was allocating client funds in a way that would be less profitable for them. The cash in the portfolios would cause clients to make less money even while taking on the same amount of risk.
Bank of America will pay $10 million for processing illegal, out-of-state garnishment orders against customers’ bank accounts. It froze accounts, charged fees, garnished funds, and sent payments to creditors based on court orders that should have been processed under state laws where the consumers lived.
