Today, the US Consumer Financial Protection Bureau (CFPB) is announcing that it has begun to investigate claims of predatory practices, and the agency says that they have been reported by thousands of Americans who claim to have been charged fees by the credit card companies.
In a press release, the CFPB said it was investigating a number of cases, and it would not identify the victims.
The agency has previously warned consumers that they may be charged fees if they don’t pay up on their debt.
It is not clear how many Americans have been caught up in the ongoing investigation.
The bureau has previously been criticized for its handling of credit card fraud, which has prompted a number, including the Consumer Financial Services Agency (CFSA), to recommend that consumers avoid using cards and other financial products.
The CFPO said it had taken a number steps to improve its enforcement efforts over the past year.
In January, it announced that it was conducting a comprehensive review of the CFSA’s enforcement practices and a plan to hire a former CFSHSA official to conduct the review.
It also said it would expand its enforcement activities, adding that it would have a dedicated unit that would target financial services providers and banks.
The consumer bureau has also hired a former Federal Trade Commission (FTC) official to oversee the enforcement of the Consumer Protection and Protection from Unfair Competition Act (CPPA).