Consumer advocates unhappy with CFPB over credit-card fees

(April 16, 2012) -- Even as some financial institutions worry that the Consumer Financial Protection Bureau may be heavy-handed in exercising its broad new enforcement authority, the agency drew criticism from consumer advocates for its decision to back down rather than challenge high “processing fees” that some financial institutions impose on consumers before activating credit cards. Consumer activists are dismayed that the agency is not seeking to limit the fees....

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