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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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CFPB Working For You: Empowering Low-Income Consumers

It’s not unusual to feel bewildered when faced with complicated banking fee policies or pages of fine print when you’re trying to get a loan. Many consumers worry that they don’t have enough financial savvy to reach their goals. We’ve heard from frustrated consumers like Yolia of Washington, DC, who told us that money concerns Continue Reading

Categories: Banking, CFPB
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Some Californians’ Prepaid Cards Getting New Legal Protections

Is it a sign of good things to come from the CFPB? Some California consumers receiving child support deposited to prepaid cards are getting new protections thanks to a bill recently signed by California Governor Jerry Brown. For some consumers, a California state agency collects child support then directs it to the recipient’s account. AB Continue Reading

Categories: Government Issued Cards, Payments, Prepaid Cards, Uncategorized
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CFPB Defends Troops Against Predatory Lenders

More proof that the CFPB is standing up for consumers: the CFPB has permanently stopped a lender that has been preying on soldiers and trying to evade regulators for years. The CFPB, along with 13 state attorneys general, took action against Colfax Capital Corporation and Culver Capital LLC, together called “Rome Finance,” for tricking servicemembers and other consumers Continue Reading

Categories: CFPB, Credit
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Prepaid Card or Pawn Complaint? The CFPB Is Ready to Help

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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
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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
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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
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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
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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
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