CFPB reports on illegal junk fees on bank accounts, mortgages, student loans, and auto loans

The Consumer Financial Protection Bureau released today a special edition of its Supervisory Highlights that reports on unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets, including in mortgage, student, and payday lending. The CFPB explains that “[t]hese unlawful fees corrode family finances, force up families’ banking and borrowing costs, and are not easily avoided – even by financially savvy consumers. As described in the Supervisory Highlights, the CFPB continues rooting unlawful fees out of consumer financial markets.”

A summary and link to the Supervisory Highlights is here.

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