Contact to us

News

Know about market updates

CFPB issues warning: Don’t trick consumers into using costly pay-by-phone option

Attention financial services companies: If you offer a pay-by-phone option and steer customers to said option unnecessarily, the Consumer Financial Protection Bureau may come knocking. The CFPB said Monday that it is issuing a warning to all companies under its supervision because the agency is concerned about companies “tricking” consumers into using expensive pay-by-phone options.
Source: 1