In a bit of jousting just before the Consumer Financial Protection Bureau is slated to present a semiannual report to Congress, senators on both sides of the aisle alternately championed and decried the bureau’s track record on protecting consumers from various financial malfeasances. As noted...
The CFPB announced yesterday (March 30) that it has taken action against a student loan debt relief scam that causes borrowers to pay for illegal fees tied to federal loan benefits that the company claimed to be associated with the Department of Education. According to...
The Consumer Financial Protection Bureau said Tuesday (March 29) that it has released its newest monthly consumer complaint snapshot, which, as per usual, spotlights complaints tied to debt collection. And perhaps to the surprise of no one, the highest-ranking agitator of consumer nerves were the attempts...
The Consumer Financial Protection Bureau said on Wednesday (March 23) that it has issued an advisory alongside a report detailing recommendations for financial institutions, ranging from credit unions to banks, offering information on how to recognize, report and also prevent financial exploitation of older customers....
The Consumer Financial Protection Bureau said on Friday (March 18) that, at the agency’s request, a federal district court has entered a final judgment against Morgan Drexen, a debt relief company, with the resolution of a suit brought by the CFPB three years ago. The total judgment...
Commentary published on Wednesday (March 16) by National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger may signal a contentious debate over assertions by the Consumer Financial Protection Bureau (and Director Richard Cordray) that the CFPB does not need to make a greater effort to exempt...
A majority of the U.S. House of Representatives has spoken out in a new bipartisan letter urging the CFPB to remove small banks and credit unions from its list when developing new regulatory policies that may be designed for larger organizations. Although the CFPB has claimed,...
The Consumer Financial Protection Bureau announced on Tuesday (March 15) that it is taking action to bring down a student debt relief scheme that illegally charged millions of dollars to borrowers through upfront fees for federal student loan services. The requested ruling has the potential to...
We’re just one day from hearing what CFPB Director Richard Cordray has to say about the regulatory environment of consumer financial services in the U.S., as he is set to deliver his semi-annual report to Congress on Wednesday (March 16). Among the topics expected to...
