The companies collecting Americans’ student loans, auto loans and medical payments have some work to do. That’s according to a report issued Tuesday (July 2) by the Consumer Financial Protection Bureau (CFPB), which found numerous failures in student and auto loan servicing, deceptive and abusive debt collection practices, and...
The Small Business Administration (SBA) loaned out $390 billion to keep companies afloat during COVID. Now, many of those small businesses say they are struggling to pay back fees after defaulting on those loans, The Wall Street Journal (WSJ) reported Thursday (May 2). According to that report, the SBA...
America’s consumer watchdog says it’s uncovered deception and abuse in several consumer financial products. The Consumer Financial Protection Bureau (CFPB) released a report Wednesday (July 26) that found illegal tactics at work in the auto lending, medical debt and payday loan sectors. “Today’s report furthers...
Cash is the lifeblood of a business, meaning that delayed payments delay growth. Payment defaults are even worse. Today’s turbulent macroclimate has only underscored the importance of keeping cash on hand for businesses — complicating the buyer and seller dynamic by adding more pressure around...
January 27, 2020
For the Consumer Financial Protection Bureau (CFPB), 2020 may be a landmark year. There’s the looming question over the agency’s very constitutionality, recent definitions of what equates to “abusive” practices may scale back investigations (and fines) and some states seek to boost consumer protections. We break down why 2020 may herald big changes for the bureau.
September 30, 2019
We all know the drill. After receiving treatment at a hospital (whether an in-and-out affair, such as an MRI, or a multi-day stay in a room), the insurance notices and...
July 19, 2019
More than a quarter of consumers have one debt in collections, according to data from the Consumer Financial Protection Bureau. A large swath of that is tied to medical debt —...
February 14, 2019
Americans are on the hook for an ever-increasing percentage of their medical bills. As healthcare becomes a tough pill to swallow financially, 57 percent of consumers would like to set...
September 05, 2024
The Consumer Financial Protection Bureau (CFPB) has found that debt collectors are using illegal tactics, and it is taking steps to ensure they follow consumer financial protection laws. The regulator said this in a Thursday (Sept. 5) press release announcing findings from its annual report on debt collection, which it said highlights illegal practices in the collection of […]
July 02, 2024
The companies collecting Americans’ student loans, auto loans and medical payments have some work to do. That’s according to a report issued Tuesday (July 2) by the Consumer Financial Protection Bureau (CFPB), which found...
May 02, 2024
The Small Business Administration (SBA) loaned out $390 billion to keep companies afloat during COVID. Now, many of those small businesses say they are struggling to pay back fees after defaulting on those loans,...
July 26, 2023
America’s consumer watchdog says it’s uncovered deception and abuse in several consumer financial products. The Consumer Financial Protection Bureau (CFPB) released a report Wednesday (July 26) that found illegal tactics...
