Consumers Report Being Hounded About Debts Not Owed
Top Debt Collection Complaints Also Include Aggressive Communication Tactics and Threatening Illegal Actions WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a report on the more than…
Agencies Issue Proposed Rule on Minimum Requirements for Appraisal Management Companies
WASHINGTON, D.C.— Six agencies today issued a proposed rule that would implement minimum requirements for state registration and supervision of appraisal management companies (AMCs). An AMC is an entity that…
CFPB Finds Four Out Of Five Payday Loans Are Rolled Over Or Renewed
Research Shows the Majority of Payday Loans Are Made to Borrowers Caught in a Revolving Door of Debt WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) issued a…
CFPB Report Shows Complaints Rose 80 Percent in 2013
Annual Consumer Response Report Highlights CFPB Help in Getting Problems Addressed WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) announced today that consumer complaint volume nearly doubled from 91,000…
CFPB Orders Bank Of America To Pay $727 Million In Consumer Relief For Illegal Credit Card Practices
Millions of Consumers Harmed by Bank’s Deceptive Marketing and Unfair Credit Card Billing Practices WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America, N.A. and…
CFPB Proposes Revision to Rule Protecting Consumers Sending Money Internationally
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed revisions to its international money transfer rule. The revisions are intended to preserve the rule’s new consumer protections while…
CFPB Finds Private Student Loan Borrowers Face “Auto-Default” When Co-Signer Dies or Goes Bankrupt
Bureau Publishes Consumer Advisory and Sample Letters to Help Borrowers Release Co-Signer WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report highlighting complaints…
CFPB Report Highlights Pain Points for Consumers in Mortgage Closing Process
Bureau Releases Guidelines for New eClosing Mortgage Pilot Project Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today published a report which finds that many consumers are frustrated by…
Statement of CFPB Director Richard Cordray on BMO Harris Auto Lending Policy
WASHINGTON, D.C. — Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement responding to news that BMO Harris Bank plans to pay auto dealers a flat percentage…
CFPB Proposes Minor Changes to Mortgage Rules to Ensure Access to Credit
Proposal Would Assist Nonprofits and Allow for Refunds of Excess Points and Fees for Qualified Mortgages Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) is proposing minor adjustments…