The Consumer Financial Protection Bureau (CFPB) just recently filed suit against four online lenders for allegedly collecting on consumer debts they were not legally owed. The CFPB suit, filed in federal court, alleges that Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Mountain Summit Financial,...
Protecting consumers from credit card fraud is a massive undertaking and is something that’s not likely taken lightly by the U.S. Consumer Financial Protection Bureau. While an Oct. 2016 regulation was put in place by the bureau to help protect consumers from any hidden terms...
Each year, financial literacy empowerment and economic education non-profit organization Operation HOPE hosts its Global Forums Annual Meeting. The purpose of these series of meetings is to help open up the discussion on how the positive effects of a free enterprise can be extended to...
“Boy, they really hate you, don’t they?” Such were the words from Massachusetts Democrat Michael Capuano during a hearing this week between CFPB Director Richard Cordray and the House Financial Services committee which “welcomed” the consumer watchdog’s director for a 5 hour round of questioning...
There are no shortage of divisive topics in Washington D.C. these days; it would, in fact, be quicker and easier to make a list of topics that enjoy bipartisan agreement than to try and catalog all the individual differences. Judges, budgets, healthcare, regulation, the environment...
What is short-term lending’s long-term future? That’s the question on most segment watcher’s lips as 2017 gets up and running — and as millions nationwide await the final ruling from the CFPB. If the rules pass as present, long-term might be something of a huge...
In a brief filed on Friday (March 17) in a lawsuit against the Consumer Financial Protection Bureau (CFPB), the Justice Department declared that the agency’s structure is unconstitutional. In the lawsuit, it’s stated that the current structure of the consumer watchdog agency actually provides it...
On Monday (March 6), CFPB Director Richard Cordray presented at the LendIt USA Conference, providing attendees with an overview of where the bureau stands on FinTech innovation. In his keynote speech, Cordray shared how the CFPB is working to help facilitate FinTech innovation in a...
The latest complaints snapshot from the CFPB is in — and once again, credit reporting has managed to lead the pack amongst things consumers are dissatisfied with. Of the approximately 29,000 complaints handled in January, there were 7,730 complaints about debt collection. The problems are...
