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CFPB Is Helping Consumers Check Their Specialty Credit Reports

Most consumers know that they can check their credit reports with the “big three” credit bureaus, Experian, Equifax, and TransUnion, once a year, for free, at annualcreditreport.com. But, there are dozens more companies that may collect and report important information about you – and it’s important to check those reports, too. (Note that these specialty agencies aren’t Continue Reading

Categories: CFPB, Credit, Credit Reports
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Subprime Credit Card Company Ordered to Return Millions

Continental Finance Company, a company that markets credit cards to folks with dinged-up credit, agreed today to refund an estimated $2.7 million to tens of thousands of customers to compensate them for illegal fees and charges, according to a consent order Continental signed with the Consumer Financial Protection Bureau (CFPB). Continental credit cards carried annual Continue Reading

Categories: CFPB, Credit, Credit Cards
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Have You Received Your Free FICO Score?

Consumers are finally seeing substantial progress in the credit score market. They’ve long faced real challenges in getting the same credit score that their banks and lenders purchased when making lending decisions about them. But over the past year, millions of Americans have gained access to free, reliable credit scores. Recently, President Obama announced that more Continue Reading

Categories: CFPB, Credit, Credit Cards, Credit Reports
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CFPB Says Medical Debt Scars One in Every Five Credit Reports

The Consumer Financial Protection Bureau has unveiled some surprising new numbers in its latest report on medical debt: one out of every five credit reports is harmed by medical debt that’s considered past due, and medical debt accounts for about half of all debt in collections. Making matters worse, there are no uniform standards for Continue Reading

Categories: CFPB, Credit Reports
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CFPB Working for You: Student Loan Help for Volunteers

Do you dream of serving your country as a Peace Corps volunteer, but are worried that you won’t be able to pay back your student loans? The Consumer Financial Protection Bureau (CFPB) is here to help. About a quarter of American workers are involved in public service. Many of them have joined the military, volunteered Continue Reading

Categories: CFPB, Student Loans
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CFPB Working for You: Safeguarding Soldiers from Financial Harm

Members of the armed forces face major obstacles in keeping their finances in order. Many soldiers are stationed abroad and rely on family members to keep track of their money. Others living on military bases in the United States are often the targets of predatory lenders pushing pricey loans. Cammie of Columbus, Ohio became the Continue Reading

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CFPB Working for You: Promoting On-the-Job Financial Education

Many companies have smoking cessation or weight loss programs to improve their employees’ health. Now, a new report from the Consumer Financial Protection Bureau (CFPB) is calling for businesses to take a new step – to help improve their employees’ financial wellness. According to the CFPB, many Americans are so worried about money that it’s Continue Reading

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CFPB Working for You: Helping Young People Make Smart Financial Decisions

It’s back to school time, and parents and kids are gearing up for a new year. But while kids may be getting great instruction in math, science, and writing at school, they don’t usually learn basic skills like how to manage a checking account or credit card. As the Consumer Financial Protection Bureau (CFPB) points Continue Reading

Categories: Banking, CFPB
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CFPB Targets Auto Lender for False Credit Reports

An estimated one out of every five Americans has a mistake on one of their credit reports, which have sadly become an all-too-frequent occurrence for consumers. But the Consumer Financial Protection Bureau (CFPB) is working to change that: it’s rebuking an auto lender for reporting faulty information to the credit bureaus for years. On Wednesday, the Continue Reading

Categories: CFPB, Credit, Credit Reports
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CFPB Working for You: New Report Shows How Overdraft Fees are like a 17000% APR Loan

Consumers have made it clear: they’re fed up with overdraft fees. Unreasonable and high overdraft fees can be disastrous for consumers like James of Aliquippa, PA, who wrote to us: “[M]y bank has charged me in overdraft fees roughly $5,122.00 over the last 24 months . . .These are strictly overdraft fees charged by the Continue Reading

Categories: Banking, CFPB
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