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Category: Press release |
Published

Consumer Financial Protection Bureau Takes Action Against Payment Processor and Its Former CEO for Supporting Internet-Based Technical-Support Scams

Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against BrightSpeed Solutions Inc. (BrightSpeed) and its founder and former chief executive officer, Kevin Howard, for knowingly processing payments for companies engaged in internet-based technical-support fraud. Chicago-based BrightSpeed was a privately owned, third-party payment processor founded and operated by Howard in 2015 and wound down business operations in March 2019.

Category: Press release |
Published

Consumer Financial Protection Bureau Recommends Financial Institutions Report Suspected Financial Exploitation of Older Adults

The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim of financial exploitation. 

Category: Press release |
Published

CFPB Sues Access Funding for Scamming Lead-Paint Poisoning Victims Out of Settlement Money

The Consumer Financial Protection Bureau (CFPB) filed a complaint in federal district court against Access Funding, LLC for an illegal scheme in which victims of lead-paint poisoning and others were deceived into signing away future settlement payments in exchange for a significantly lower lump-sum payout.

Category: Press release |
Published

CFPB Takes Action to Shut Down Sham Credit Card

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) asked a federal district court to enter a consent order that would permanently ban a Texas-based company, Union Workers Credit Services, from offering any consumer credit products or services after it duped thousands of consumers into signing up for a sham credit card. The order […]

Category: Consumer advisories |
Published

Consumer advisory: Student loan debt relief companies may cost you thousands of dollars and drive you further into debt

We are warning all student loan borrowers who have trouble managing their student debt to watch out for scams run by companies promising “student debt relief.” These companies prey on distressed borrowers who run into trouble and struggle to figure out what comes next.

Category: Press release |
Published

CFPB Takes Action to End Student “Debt Relief” Scams

CFPB Warns Borrowers About Companies Charging High Fees for Free Federal Loan Repayment Benefits WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action to put an end to two student “debt relief” scams that illegally tricked borrowers into paying upfront fees for federal loan benefits. The CFPB, in a joint filing with […]

Category: Press release |
Published

CFPB Sues Online Payday Lender for Cash-Grab Scam

The Hydra Group Uses Phony Payday Loans to Illegally Access Consumer Bank Accounts WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) announced its action to halt the operations of an online payday lender, the Hydra Group, which it believes is running an illegal cash-grab scam. The lawsuit alleges that the Hydra Group uses […]

Category: Consumer advisories |
Published

Consumer advisory: Don’t fall for a foreclosure relief scam or bogus legal help

Along with other cases from federal and state partners, today we charged that mortgage rescue scammers have taken $25 million in illegal advance fees from consumers. It serves as a reminder of how important it is to watch out for scam artists trying to take advantage of people who need help avoiding foreclosure. Read more to learn how to protect yourself from these scams.

Category: Press release |
Published

CFPB Releases Tools To Protect Foster Care Children From Credit Reporting Problems

Bureau Publishes Action Letters for Child Welfare Caseworkers to Send to Credit Bureaus Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action to better protect children in the foster care system from credit reporting problems that could compromise their future credit. The Bureau published action letters for child welfare caseworkers to send […]

Category: Press release |
Published

CFPB Issues Consumer Advisory on Industry’s Data Breach

Advisory Offers Tips to Protect Accounts in Wake of Recent Payment Card Data Breaches WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) published a consumer advisory to help consumers protect themselves in the wake of the recent breaches of payment card and other data. The advisory also contains information on where to get […]