Blog

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Published Category: Policy & Compliance

Fall 2015 rulemaking agenda

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Published Category: At the CFPB

Spring 2015 rulemaking agenda

An important part of our mandate is to make rules more effective and create new rules when necessary. Today, we’re posting a semi-annual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Published Category: Policy & Compliance

We’re suing a robo-call debt collector

Today we’re announcing that we filed a lawsuit against a robo-call debt collection operation, including its ringleaders, their companies, and service providers. The debt collectors allegedly sent millions of robo-calls to threaten, harass, and deceive consumers to collect debt that consumers do not owe, or were not owed to the debt collectors themselves. The complaint alleges that the scheme depended on the participation of the telemarketing company that sent the robo-calls and the payment processors that allowed the collectors to access consumers’ bank accounts.

Published Category: Info for consumers

Are unpaid debts a military career-killer?

Servicemembers, veterans and military families have submitted more than 11,000 debt collection complaints to the CFPB since we began accepting them in July 2013 – our fastest-growing category of complaints. Among other things, we’ve received reports that some debt collectors are threatening servicemembers by claiming that they will report the unpaid debt to their commanding officer, have the servicemember busted in rank or even have their security clearance revoked if they don’t pay up.

Published Category: Info for consumers

Freedom Stores to provide over $2.5 million in refunds and penalties

Our investigation found that the companies illegally filed thousands of lawsuits in Virginia against consumers who didn’t live or purchase goods there: over 3,500 lawsuits in Norfolk, Virginia in two-plus years, almost all resulting in default judgments against consumers, some of whom didn’t even know they’d been sued until they discovered their bank accounts had been garnished.