32 filtered results

Published Category: Info for consumers

Consumer advisory: Don’t be misled by reverse mortgage advertising

You might see enticing images of youthful retirees on the golf course or enjoying other leisure activities in a reverse mortgage advertisement. We looked closely at many ads and found incomplete and inaccurate statements used to describe the loans. Reverse mortgage ads don’t always tell the whole story, so consider these facts when you see advertisements.

Published Category: Info for consumers

Consumer advisory: Fact-check your specialty consumer report

Some of these companies, called specialty consumer reporting agencies, compile and sell reports with all kinds of personal data including, but not limited to, the history of your employment, rental, banking, lending, insurance, and criminal background. This includes other public record data such as tax liens, civil suits and bankruptcy data. We’ve got a list of consumer reporting agencies, so you can fact-check them to ensure your personal report data is accurate and complete.

Published Category: Info for consumers

Consumer advisory: You’ve got options when it comes to overdraft

We’re announcing an enforcement action against Alabama-based Regions Bank for charging overdraft fees to consumers who had not opted-in for overdraft coverage. We’re requiring Regions Bank to fully refund all affected consumers – hundreds of thousands of consumers have already been refunded $49 million in fees. Learn more about your choices when it comes to overdraft protection programs, as these programs can be costly.

Published Category: Info for consumers

Consumer advisory: 3 pension advance traps to avoid

Many retirees depend on a pension to cover day-to-day as well as occasional unexpected expenses, such as health emergencies or home repairs. Although pension advances may seem like a “quick fix” to your financial problems, they can eat into your retirement income when you start paying back the advance plus interest and fees. Here are three things you can do to protect your retirement pension.

Published Category: At the CFPB

Save the date: Join us for the Winter 2015 Consumer Advisory Board meeting in Washington, DC

Join us for a Consumer Advisory Board meeting with Director Cordray on Thursday, February 19 from 10 a.m. to 4 p.m. EDT. During this meeting we will discuss trends and themes related to consumer financial well being and medical debt.

Published Category: Info for consumers

Consumer Advisory: Student loan debt relief companies may cost you thousands of dollars and drive you further into debt

We are warning all student loan borrowers who have trouble managing their student debt to watch out for scams run by companies promising “student debt relief.” These companies prey on distressed borrowers who run into trouble and struggle to figure out what comes next.

Published Category: Info for consumers

Consumer Advisory: 7 ways to keep medical debt in check

An estimated 43 million Americans are dealing with medical debt. Debt collection is the top complaint we’ve received since September 2013 and medical collections make up 52 percent of collection accounts on credit reports, far outpacing all other types of debt. Learn more about how you can keep medical debt in check.

Published Category: Info for consumers

Reminder for steps you can take if you think your credit or debit card data was hacked

Home Depot has confirmed that there has been a breach of its payment data systems. According to the company, the breach could potentially impact any customer that has used their card for payment at a Home Depot in the U.S. or Canada since April 2014. Here’s what you can do to protect yourself if you spot unauthorized charges.