CFPB Unveils Consumer Credit Trends Tool to Help Forecast Potential Consumer Risks
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future…
CFPB Takes Action Against Moneytree for Deceptive Advertising and Collection Practices
Washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action against Moneytree, Inc., a financial services company that offers payday loans and check-cashing services, for misleading consumers with…
CFPB Takes Action Against Pawn Companies for Deceiving Consumers About Loan Costs
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against four Virginia pawnbrokers for deceiving consumers about the actual annual costs of their loans. In lawsuits filed…
Consumer Financial Protection Bureau Takes Second Action Against Military Credit Services for Improper Contract Disclosures
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today sued Military Credit Services, LLC (MCS) for making loans with improper disclosures. This is the CFPB’s second enforcement action against…
CFPB Monthly Complaint Snapshot Spotlights Debt Collection Complaints
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a monthly complaint snapshot highlighting consumer complaints about debt collection. The report shows that the most common complaint about…
CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers in Marketing Credit Scores and Credit Products
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit…
CFPB Warns Student Loan Servicing Problems Can Jeopardize Long-Term Financial Security for Older Borrowers
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a report that examines complaints from older student loan borrowers about servicing practices that can jeopardize their long-term financial…
CFPB Takes Action Against Two Law Firms for Misrepresenting Attorney Involvement to Collect on Medical Debts
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is taking action against two medical debt collection law firms and their president for falsely representing that letters and calls…
CFPB Survey Finds Over One-In-Four Consumers Contacted By Debt Collectors Feel Threatened
WASHINGTON, D.C. – A Consumer Financial Protection Bureau (CFPB) report released today found that over one-in-four consumers contacted by debt collectors felt threatened. The report was drawn from the first-ever…
CFPB Sues Nation’s Largest Student Loan Company Navient for Failing Borrowers at Every Stage of Repayment
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is suing the nation’s largest servicer of both federal and private student loans for systematically and illegally failing borrowers at…