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Published Category: Info for consumers

Meet Greg from Michigan

Since we launched on July 21st 2011, we’ve heard directly from consumers about the challenges they face in the marketplace, brought their concerns to the attention of financial institutions, and helped address their complaints. Accepting, resolving, and analyzing consumer complaints is an integral part of our work. This week, we’ll be featuring stories from consumers […]

Published Category: Info for consumers

How to stop mystery credit card fees

When you’re activating a new credit card, watch for “the pitch.” When you call to activate a new credit card, you may be routed to representatives who try to sell you things like “credit protection” or “identity monitoring” to add to your account. These services, or “add-on products,” are additional, optional services that will cost […]

Published Category: Info for consumers

Notice about possible debt consolidation scam

Earlier this month we told you about sweepstakes scams. We now have learned of another scam that we are looking into. Consumers are now reporting that callers are claiming to be from the CFPB and offering debt consolidation services. These callers are asking for credit card information from consumers. The CFPB does not offer debt […]

Published Category: Info for consumers

Protecting Older Americans from financial abuse

We took an important step today towards looking out for older American consumers. Director Richard Cordray announced a public inquiry to learn more about the many ways in which older Americans are financially exploited and about the best practices for elder financial management.

We want to hear from you – especially those of you working directly with seniors – about these issues. How can seniors best determine the legitimacy of the credentials of financial planners and advisors? What information do you have on what financial education, counseling, or management programs are tailored to the unique needs of older Americans, their families, and their caregivers? Tell us what you think.

Published Category: At the CFPB

Protecting military members from predatory lending

As a lifetime military family member, I’ve seen first-hand the devastating impact financial scams and predatory lending can have on our military families. I also spent 6 years as the head of the Better Business Bureau’s BBB Military Line program, and that was an education for me about the consumer issues and scams that impact […]