Bureau Alleges Company Took Advantage of Consumers with Cognitive Impairments
Our report highlights trends and issues reported in servicemember complaints about VA mortgage refinances. We also have direct-to-consumer tips to remember when thinking about refinancing your VA mortgage.
Consumer Financial Protection Bureau Monthly Complaint Snapshot Auto And Other Consumer Loan Complaints
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.
Rule Would Require Lenders to Determine Whether Consumers Have the Ability to Repay Payday, Auto Title, and Certain Other High-Cost Loans
Tweaks Address Mortgage Disclosures After Locking Interest Rates and Information on Construction Loans WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized two minor modifications to the “Know Before You Owe” mortgage disclosure rules. The changes finalized today, which were proposed in October 2014, address when consumers will receive updated disclosures after locking […]
Responsible colleges are on high alert to ensure that they endorse transparent financial products. … To improve this process, the Bureau is proposing a draft “Safe Student Account Scorecard.” The scorecard builds on prior work by the FDIC and is designed to help colleges evaluate the costs and benefits to students of a financial product based on information about its features and how it is marketed. We are seeking input on the scorecard, which highlights four key areas for schools to consider and assess.
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) released its annual report on college credit card agreements, which shows a nearly 70 percent decline in the number of agreements since Congress passed new disclosure requirements in 2009. These findings highlight the trend of marketing partnerships between colleges and financial institutions shifting from credit cards toward other products such as debit and prepaid cards, which generally have fewer sunshine protections. The report also found that most colleges with credit card agreements do not make those agreements readily accessible to students and families.
Examiners Also Uncover Violations of Mortgage Servicing Laws WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting illegal actions uncovered by the Bureau’s supervision of the student loan servicing market. Bureau examiners found that companies engaged in illegal practices like charging unfair late fees and harassing debt collection calls. Bureau […]
WASHINGTON, D.C. – 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 military-specific protections under the Military Lending Act. The proposal would close loopholes that have led to lenders skirting the law with products that fall outside […]
Thank you all for joining us today, and allow me to recognize Chair Tedesco, the Commissioner of the Financial Consumer Agency of Canada, who is here, as well as Director Bassett from the Indiana Department of Financial Institutions. We are here in Indianapolis to discuss a market that matters deeply, both to our everyday lives and to our nation’s economy. That is the market for financing the sales of cars and trucks. Nearly nine out of ten Americans commute to work by automobile, and in vast areas of the country ownership of a vehicle is almost essential to personal mobility.