The CFPB’s Office of Consumer Response hears directly from consumers about the challenges they face in the marketplace, brings their concerns to the attention of companies, and assists in addressing their complaints. This Monthly Complaint Report provides a high-level snapshot of trends in consumer complaints. The Monthly Complaint Report uses a three-month rolling average, comparing […]
We’ve received over 1,300 complaints from military borrowers related to the servicing or collection of student loans. This report highlights the continued challenges faced by servicemembers when they contact their student loan servicers to invoke the military rights and protections earned through their service. Read our report.
In this issue of Supervisory Highlights, we report examination findings in the areas of mortgage origination, fair lending, mortgage servicing, deposits, payday lending, and debt collection. As in past editions, this report includes information about recent public enforcement actions that were a result, at least in part, of our supervisory work. The report also includes […]
We received more than 3,100 private student loan complaints and 1,100 debt collection complaints related to student loans between October 1, 2014, and March 31, 2015. This mid-year update discusses specific co-signer issues including problems securing a co-signer release. The report also provides an analysis of problems consumers experience when attempting to refinance a student […]
At the Consumer Financial Protection Bureau, we are the nation’s first federal agency whose sole focus is protecting consumers in the financial marketplace. Financial products like mortgages, credit cards, and student loans involve some of the most important financial transactions in people’s lives. In the Dodd-Frank Act, Congress created the Bureau to stand on the […]
Ads for reverse mortgages are found on television, radio, in print, and on the internet, and many ads feature celebrity spokespeople discussing the benefits of reverse mortgages without mentioning risks. We looked closely at many ads and found incomplete and inaccurate statements used to describe the loans. These advertisements may leave older homeowners with the […]