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Debt Collection

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  • CFPB Cracks Down on U.S. Bank’s Crummy Practices

    Nearly half a million U.S. Bank customers will get money back for the bank’s bad habit of selling consumers services that it did not provide, the Consumer Financial Protection Bureau (CFPB) announced today. The CFPB is ordering U.S. Bank to return $48 million to the 420,000 customers it enrolled in identity protection and credit monitoring Continue Reading

  • New Animated Video Series Helps Consumers Facing Debt Collection Lawsuits

    By Guest Blogger Marc Priester The debt collection industry has come under fire in recent years for using strong-arm tactics to get people to pay debts – whether they actually owe them or not.  Sometimes it’s the excessive phone calls and illegal threats.  In other cases, debt collectors use the court system to ratchet up the pressure. Last Continue Reading

  • Let the Consumer Financial Protection Bureau Continue To Do Its Job

    (Cross-posted from Consumer Reports Online in an article by Stephen Saltzman) On July 21, the Consumer Financial Protection Bureau will mark its fourth anniversary. The consumer financial watchdog, created by Congress in the wake of the financial crisis caused by shady mortgage lenders and Wall Street abuses, has done a lot for consumers in just Continue Reading

  • 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

  • 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

  • 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

  • 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

  • Lax Reporting by Debt Collectors Can Trigger Credit Reporting Errors

    As creditors increasingly rely on debt collectors to resolve outstanding debts, consumers should pay careful attention to the information reported about them to credit bureaus. That’s especially true since credit reporting errors are incredibly common, as our recent report on the subject noted. One in five, or an estimated 40 million consumers have errors on Continue Reading

  • CFPB Says Consumers Are Being Hounded for Debts They Don’t Owe

    Ever been called by a debt collector about a debt that’s not yours?  Well if so, you’re not alone.  Today the Consumer Financial Protection Bureau (CFPB) issued its latest report on the debt collection industry, based on over 30,000 complaints received since July 2013, and found that these kinds of abuses are all too common. Continue Reading

  • Why The CFPB Is The Best Thing To Happen To Americans Since J.Law

    Jennifer Lawrence is pretty awesome, right? For several years now she’s excelled at playing characters that excite the American imagination- they’re young, vibrant, and struggle against difficult odds or crafty opponents.  The Consumer Finance Protection Bureau (CFPB) is also young, rather vibrant, and also goes to battle with powerful forces but, despite all this, the Continue Reading

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