Defend Your Dollars: Share this site! We support reforms to the financial marketplace to curb bad practices by banks and lenders.

cfpb

Prepaid Card or Pawn Complaint? The CFPB Is Ready to Help

CFPB

Since it began accepting consumer complaints in July 2011, the Consumer Financial Protection Bureau (CFPB) has helped hundreds of thousands of consumers resolve issues with loans, bank accounts, and other financial products. Now, it’s ready to help consumers with prepaid cards and non-bank financial products, such as pawn and car title loans, and credit repair Continue Reading

Categories: Debt Relief, Prepaid Cards, Uncategorized
Tags: , , ,

CFPB Helps Consumer Successfully Resolve Credit Card Debt He Didn’t Owe

Spanish-language assistance helps veteran with years-long problem in 30 days Higinio, a resident of Trujillo Alto, Puerto Rico, served in the American military for more than three decades. For years, Higinio got letters saying he owed a credit card debt which he had paid off. He said, “I felt powerless trying to solve this problem Continue Reading

Categories: Uncategorized
Tags: , ,

CFPB: Fixing Consumers’ Toughest Credit Reporting Issues

When you find an incorrect item on your credit report, it’s not always easy to get it fixed. Fortunately, consumers have an advocate working hard on their side. For the past three years, the Consumer Financial Protection Bureau (CFPB) has been there to help consumers resolve their problems with financial services providers – from credit Continue Reading

Categories: CFPB, Credit Reports, Debt Collection
Tags: , , ,

CFPB Fights Elder Abuse & Senior Scams

Elder financial abuse is an under-the-radar problem, but one that can have enormous consequences for seniors and their families. According to the Consumer Financial Protection Bureau (CFPB), close to five percent of Americans over 60 were found to suffer from elder financial abuse by a member of their family in one year alone. Financial abuse Continue Reading

Categories: CFPB
Tags: , ,

Wall Street’s Latest Wishlist For Congress Would Make Even the Pharmaceutical Industry Blush

Do you know what stands between the American people and another financial crisis? Two things. The first is a little but scrappy federal agency that just happens to be the most important institution to emerge out of the crisis, the Consumer Financial Protection Bureau (CFPB). And the second is defeating the the Wall Street Wishlist. Continue Reading

Categories: CFPB, Credit Cards, Credit Reports, Debt Collection, Debt Relief, Mortgages, Student Loans
Tags: , , , ,

CFPB Calls Out Credit Bureaus and Debt Collectors for Abusive Practices

Have the credit bureaus and debt collectors been meeting their legal responsibilities to treat consumers fairly? We’ve long argued that credit bureaus and debt collectors need to be held more accountable for breaking the law and harming consumers. Luckily, the Consumer Financial Protection Bureau (CFPB) has been taking a closer look. In the CFPB’s latest Continue Reading

Categories: CFPB, Credit, Credit Reports, Debt Collection
Tags: , ,

On CARD Act’s 5th anniversary, Consumers Union calls for new reforms by CFPB

On the fifth anniversary of the Credit CARD Act, a historic federal law to prevent unfair and abusive practices by credit card companies, CU is asking the CFPB to build upon the success of the law with new reforms to protect cardholders.

Categories: CFPB, Credit Cards
Tags: , ,

New CFPB Paper Highlights Unfair Reporting of Medical Debt

Do you think that your medical bills are calculated fairly in your credit score? New research from the Consumer Financial Protection Bureau (CFPB) suggests that they’re not. The CFPB’s new report reveals that the way medical debt is currently calculated in credit scores does not accurately represent consumers’ creditworthiness. Medical debt has become a significant Continue Reading

Categories: CFPB, Credit Reports, Debt Collection
Tags: , , , ,

CFPB Resources for Consumers Seeking Assistance

The Consumer Financial Protection Bureau (CFPB) is looking out for consumers. In 2011, the CFPB was established to protect consumers in the financial services marketplace. In addition to making certain that financial institutions, such as banks, credit card companies, and mortgage lenders obey consumer laws, the CFPB also helps individual consumers. The Bureau accepts complaints Continue Reading

Categories: CFPB
Tags:

Comments to the CFPB on advanced notice of proposed rulemaking, regarding debt collection practices

Consumers Union, the policy and advocacy arm of Consumer Reports®,1 appreciates the opportunity to comment on the Bureau’s advanced notice of proposed rulemaking (ANPR) regarding debt collection practices. We applaud the Bureau’s efforts to update and clarify federal standards for the debt collection system, and offer comments in response to selected questions below. As a Continue Reading

Categories: CFPB, Debt Collection
Tags: ,