Real Estate

CFPB signals crackdown on hidden fees for banks, credit cards


Rohit Chopra, director of the Consumer Financial Protection Bureau.

Alex Edelman/Bloomberg via Getty Images

The Consumer Financial Protection Bureau on Wednesday signaled a broad crackdown on hidden and excessive fees charged by banks, mortgage lenders and other financial entities.

The federal agency, created in the wake of the 2008 financial crisis, is seeking consumers’ input on so-called junk fees associated with their bank, credit union, prepaid or credit card account, mortgage, loan or payment transfers.

Such experiences related to a product or service include: Fees people thought were covered by its baseline price; unexpected fees; fees that seemed too high; and fees where it was unclear…


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