The CFPB said Tuesday (Nov. 29) that it released its monthly snapshot spotlighting consumer complaints, and the highest levels of complaints focused on debt settlement and check cashing services. The overarching concerns were tied, said to the CFPB, to issues of fraud and also the...
Consumers definitely need consumer financial protection. They are preyed upon by providers looking to make money on folks who are gullible, innumerate or just not paying attention. Fraud and deception are all too common. There’s something else consumers usually need at various times in their...
The Consumer Financial Protection Bureau said Monday (Nov. 21) that it filed a suit against Access Funding, alleging an illegal scheme that scammed lead paint poisoning victims. The watchdog said that Access Funding convinced victims to take the advice of “sham” advisors. Those advisors, said the CFPB,...
The nation’s top consumer advocacy watchdog, the Consumer Financial Protection Bureau (CFPB), is intensifying its investigation into high-interest seller-financed home sales. This type of home sale typically targets low-income buyers unable to acquire a traditional mortgage. The CFPB announced Monday (Nov. 15) that it has called upon Harbour...
Now that the simple surprise factor has worn off and Americans and global markets have started getting their heads around the idea of President Donald J. Trump, the inevitable question coming is “now what?” Everyone understands that Trump won, of course — but the pressing question...
The Consumer Financial Protection Bureau announced Wednesday (Nov. 2) that it, along with the New York Attorney General, launched a lawsuit against what it said are the leaders of a “massive debt collection scheme” based in Buffalo, New York. According to a press release, the...
A new month, a new batch of complaints to the CFPB from consumers. This month’s spotlight player was prepaid products — and the difficulties consumers experience in their use and management. “For many unbanked and underbanked consumers, prepaid products are a vital source of financial...
The Consumer Financial Protection Bureau (CFPB) released a report Monday (Oct. 24) showcasing several market developments that could help consumers. In its report, dubbed “Project Catalyst report: Promoting consumer friendly innovation,” the CFPB said developments from FinTech startups, as well as traditional financial services companies,...
One in three rehabilitated student loans borrowers will default — again — within two years. That’s according to a new report out from the Consumer Financial Protection Bureau’s (CFPB) Student Loan Ombudsman. The reason for this possible re-defaulting is the potential gaps between student loan...
