CFPB finds major US retailers like Dollar General, Dollar Tree, and Kroger charge fees for cash-back services, potentially affecting low-income individuals.
The CFPB has found that major US retailers like Dollar General, Dollar Tree, and Kroger charge fees for cash-back services, which could amount to $90 million in annual fees across these companies. The CFPB surveyed eight major retailers' policies and found that three of them - Dollar Tree, Dollar General, and Kroger - charged for cash-back services. These charges may disproportionately affect low-income individuals and those living in "banking deserts" where access to cash is limited. The CFPB does not regulate retailers but has authority over banks and credit unions and plans to monitor the cash-back fee situation.
August 27, 2024
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