In its continued focus on so-called illegal “junk fees,” the CFPB issued an Advisory Opinion on the obligations of large banks and credit unions. The CFPB’s actions arise at a time when many large banks are moving away from a relationship-focused model to a tech-driven one that streamlines customer services, a shift the CFPB asserts has, at times, harmed customers.
CFPB Issues Advisory Opinion on ‘Illegal Junk Fees’ By Large Financial Firms
