Defend Your Dollars: Share this site! We support reforms to the financial marketplace to curb bad practices by banks and lenders.


There are many different ways to pay, including gift cards, prepaid cards, or even with your mobile phone. But you don’t get the same consumer protections with each payment choice. We’re working to expose bad practices and to enact strong protections no matter how you pay.

Subtopics of Payments


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Press Releases

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Blog Posts

  • PayPal Behaving Badly?

    CFPB Files Complaint Alleging Unfair, Deceptive and Abusive Practices   PayPal enrolled people in its credit program, known as Pay Pal Credit (formerly Bill Me Later), without their permission,  forced customers to use PayPal Credit even when they indicated they wanted to pay another way, failed to properly process payments, refused to honor and apply Continue Reading

  • A Better Day for Mobile Pay? Google Wallet Adds FDIC Insurance

                  Good news for consumers who store funds directly in a Google Wallet: your funds are will soon be protected by Federal Deposit Insurance Corporation (FDIC) Insurance, according to press reports. In general terms, deposit insurance makes sure that consumers don’t lose money if the bank where their money Continue Reading

  • Your Wallet on Four Wheels?

    Could the ultimate mobile payment device be your car? Payments Source reports that financial technology providers, payment card networks, banks, car manufacturers and retailers are all thinking about ways to turn cars into wallets. For example, you could – maybe, someday – use your car to order a pizza from Pizza Hut and pay via Visa Checkout. Or Continue Reading

  • Alert: Facebook’s New P2P Terms of Service Say You’re On Your Own If Things Don’t Work Out

    In March, Facebook announced the launch of a payments feature for its Messenger application. It allows users to send each other money with just a message, just like this image from Facebook’s press release about this new service: In order for the transaction to go through, of course, you have to have money available to Continue Reading

  • Bitcoin Exchange Hack Highlights Virtual Currency Risks

    Not again?! It appears that another Bitcoin exchange has suffered a hack. Bitstamp apparently lost about 19,000 bitcoins, according to news reports  – that’s around $5 million – and is temporarily shutdown as of this writing (see screenshot for what we found when we went to Bitstamp’s website today). In light of this news, now Continue Reading

  • Zero Balance: What to Do If You Encounter Gift Card Problems

    After the holidays, people everywhere are eager to spend the gift cards they received from friends and family. However, some consumers may get a nasty shock in the checkout lane: the gift cards they expected to be loaded with cash turn out to be empty. Empty gift cards were a big problem in 2014; thankfully, Continue Reading

  • Thirty-Five Things in 12 Months: CFPB Working for You–2014 in Review

    As this year comes to a close, we wanted to take a moment to highlight some of the many actions the CFPB has taken to defend your rights as a consumer of financial services and products.  The CFPB has a tough job, as we all know, and they’ve done it well.  They are an indispensable Continue Reading

  • From Strip to Chip: New Payment Cards Are Coming

    Your payment cards may look different in 2015. Card issuers are rolling out cards with smart chip (also known as EMV) technology. The chips – little gold micro processors that are built into the card (see picture) – make payment cards more secure, but consumers will have to adapt in order to use them. The Continue Reading

  • Another Day, Another Data Breach

    What to Do If You Recently Shopped at Staples or bebe Have you shopped at bebe or Staples recently? If the answer is yes, your payment card information could be at risk. Both chains confirmed security breaches in which crooks are suspected of stealing customers’ payment card information. After data breaches such these, consumers are Continue Reading

  • CFPB Sues Sprint for Mobile “Cramming” Charges

    Sprint customers, rejoice:  if you’ve been getting annoying little charges on your mobile phone bill, for stuff you didn’t ask for, you may be getting relief.  Today, the Consumer Financial Protection Bureau (CFPB) announced that it’s suing Sprint for illegally billing wireless consumers tens of millions of dollars in unauthorized third-party charges. According to the Continue Reading

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