CFPB Takes Action to End Student “Debt Relief” Scams
CFPB Warns Borrowers About Companies Charging High Fees for Free Federal Loan Repayment Benefits Today, the Bureau took action to put an end to two student...
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CFPB Spotlights Concerns with Medical Debt Collection and Reporting
Today, the Bureau released a report that found medical debt has a significant impact on consumer credit, as 43 million Americans have overdue medical debt...
CFPB Takes Action Against Debt-Settlement Firm
Firm Charged Illegal Upfront Fees to Consumers Today the Bureau announced that it has asked a federal district court to enter a consent order requiring...
CFPB Issues Statement on Department of Defense’s Military Allotment System Reforms to Protect Servicemembers
Today, the U.S. Department of Defense announced critical new protections for servicemembers using the military discretionary allotment system. The changes...
CFPB Proposes Expanded Foreclosure Protections
Today, the Bureau proposed additional measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The proposal...
CFPB Takes First Action Against ‘Buy-Here, Pay-Here’ Auto Dealer
The Bureau today took its first action against a "buy-here, pay-here" car dealer. The dealer, DriveTime, harmed consumers by making harassing debt...
CFPB Provides Guidance to Help Lenders Avoid Discrimination Against Consumers Receiving Disability Income
Bureau Warns Lenders Against Creating Illegal Hurdles for Recipients of Social Security Disability Income Today, the Bureau is issuing a bulletin to help...
CFPB Takes Action Against Franklin Loan Corporation for Steering Consumers into Costlier Mortgages
Company to Pay $730,000 to Consumers Harmed by Illegal Bonus Program Today, the Bureau ordered a California mortgage lender, Franklin Loan Corporation, to...
CFPB Proposes Strong Federal Protections for Prepaid Products
Today the Bureau is proposing strong, new federal consumer protections for the prepaid market. The proposal would require prepaid companies to limit...
CFPB Report Finds Debt Collection Tops Older Consumer Complaints
Bureau Issues Consumer Advisory with Tips for Older Americans Dealing with Harassing Debt Collectors Today, the Bureau released a report highlighting debt...
FFIEC Releases Cybersecurity Assessment Observations, Recommends Participation in Financial Services Information Sharing and Analysis Center
The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, today released observations from the recent cybersecurity...
CFPB Supervision Report Highlights Risky Practices in Student Loan Servicing
Examiners Also Uncover Violations of Mortgage Servicing Laws The Bureau today issued a report highlighting illegal actions uncovered by the Bureau's...
CFPB Finalizes Minor Changes to Mortgage Rules to Ensure Access to Credit
The Bureau today finalized minor adjustments to its mortgage rules to ensure access to credit. The adjustments, which were proposed in April, include two...
CFPB Finalizes Rule to Promote More Effective Privacy Disclosures
The Bureau today finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. The new rule, which was...
CFPB Report Finds Distressed Private Student Loan Borrowers Driven Into Default
Today, the Bureau Student Loan Ombudsman released a report highlighting complaints by struggling private student loan borrowers who describe being driven...
CFPB Takes Action Against M&T Bank for Deceptively Advertising Free Checking
M&T to Refund $2.9 Million to Approximately 59,000 Account Holders Who Paid Fees for Free Checking Today the Bureau took action against M&T Bank for...
FDIC and CFPB Collaborate to Develop a Spanish-Language Tool for Older Adults to Prevent Financial Exploitation
The Federal Deposit Insurance Corporation (FDIC) and CFPB today launched a Spanish-language version of Money Smart for Older...
CFPB Announces Project Catalyst Research Pilot on Tax-Time Saving
Today, the Bureau announced a Project Catalyst research pilot to explore ways to encourage saving among consumers at tax time. The pilot will focus in...
CFPB Takes Action Against Mortgage Kickback Agreements
Bureau Orders Michigan Title Insurance Agency to Pay $200,000 Today, the Bureau ordered Lighthouse Title, a Michigan title insurance agency, to pay $200,000...
CFPB Finds Majority of Manufactured-Housing Borrowers Have Expensive Loans
Bureau Finds that Manufactured-Home Owners are More Likely to be Older or to Have Lower Net Worth The Bureau released a report which found that...
CFPB Takes Action Against Flagstar Bank for Violating New Mortgage Servicing Rules
Today the Bureau took action against Michigan-based Flagstar Bank for violating the CFPB's new mortgage servicing rules by illegally blocking borrowers'...
CFPB Releases Statement on Department of Defense Proposal to Amend Military Lending Act Rule
Today, the U.S. Department of Defense issued a proposal that would expand the types of credit products that are covered by the 36-percent rate cap and other...
CFPB Orders U.S. Bank to Pay $48 Million Refund to Consumers Illegally Billed for Services Not Received
Approximately 420,000 Consumers Unfairly Charged for Identity Protection "Add-On" Products to Receive Full Refunds Today, the Bureau is ordering U.S. Bank...
CFPB Announces Project Catalyst Research Pilot
Today, the Bureau announced a Project Catalyst research pilot to examine the effectiveness of early intervention credit counseling for consumers who are at...
Federal Financial Institutions Examination Council Announces Availability of 2013 Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 7,190 U.S...