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Category: Press release |
Published

CFPB Report Details Family Finances and Debt in Rural Appalachia

The Consumer Financial Protection Bureau (CFPB) has issued the first in a series of reports focusing on the finances of consumers living in rural areas. Today’s report focuses on rural Appalachians, who tend to earn less than consumers in other rural areas and have higher rates of subprime credit. In particular, medical debt collections are a much more prevalent issue among rural Appalachians, and consumers with medical debt collections often experience difficulties making ends meet on other financial obligations.

Category: Press release |
Published

CFPB Seeks Ban Against Operator of Student Loan Debt Relief Scam Reboot

Today the Consumer Financial Protection Bureau (CFPB) took action against the owner of a student-loan debt relief company for allegedly withdrawing hundreds of thousands of dollars from student borrowers’ bank accounts, without authorization. The CFPB alleges that Frank Gebase, Jr. controlled a company that took the borrowers’ money after obtaining their names and account information from a previous student-loan debt-relief scammer that the CFPB shut down.

Category: Press release |
Published

Consumer Financial Protection Bureau Settles with Student Loan Servicers Discover Bank, The Student Loan Corporation, and Discover Products, Inc. for Violating a Bureau Consent Order and Other Unlawful Practices

On December 22, 2020, the Consumer Financial Protection Bureau issued a consent order against Discover Bank, The Student Loan Corporation, and Discover Products, Inc. based on violations of a prior Bureau order, the Electronic Fund Transfer Act, and the Consumer Financial Protection Act of 2010.