The Consumer Financial Protection Bureau announced Monday (Jan. 23) that it took separate actions against CitiFinancial Servicing and CitiMortgage for allegedly giving struggling homeowners the runaround when they were looking for options to avoid losing their homes. In a press release announcing the two actions,...
The Consumer Financial Protection Bureau got the nod Friday (Jan. 20) from a California appeals court that it can go after Native American tribal lenders that market payday loans. According to a report, a Ninth Circuit of Appeals panel ruled online lenders Great Plains Lending, MobiLoans and...
With less than two weeks before Donald Trump’s inauguration, the Consumer Financial Protection Bureau has released five changes to its senior leadership lineup. “I am very excited for the new additions we are announcing today to the Bureau’s senior leadership,” said CFPB Director Richard Cordray....
The Consumer Financial Protection Bureau (CFPB) released a report Thursday (Jan. 5) that shows the impact of student loan debt on long-term financial security, with the government watchdog reporting it does in fact create a lot of financial strife down the road. According to a...
The Consumer Financial Protection Bureau said Tuesday (Jan. 3) that it has fined TransUnion and Equifax amid allegations that the two companies misled consumers about “the usefulness and actual cost” of the credit scores that had been sold, according to a release by the bureau....
The CFPB is casting a critical eye on overdraft fees charged by banks — despite facing an uncertain future in the Trump administration. The Dodd-Frank-enabled consumer protection group has long been making noises about limiting the fees banks can charge consumers for overdrawing their accounts — and...
If asked in September about what kind of year 2017 was going to be, CFPB officials most likely would have spoken mostly about their ongoing plans to make the world a better place for consumers. A heated battle over its funding structure and leadership structure probably would not...
Despite it being an uphill battle, Wells Fargo is continuing its attempt to win back customers and improve its reputation. Now, the strategy is to work with customers to make it right, on a one-on-one basis. It’s the next step in the bank’s recovery after...
When it comes to complaints lodged with the Consumer Financial Protection Bureau about debt collection, the government agency said attempts to collect debt on money that is not owed were the number one complaint. “Today’s report shows that consumers continue to report being harassed about...
