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Consumer Financial Protection Bureau “CFPB” is the first organization that is actually taking huge steps to punish lenders and creditors who are preying on the innocent or naive consumer.
The Consumer Financial Protection Bureau (CFPB) ordered Santander Bank, N.A. to pay a $10 million fine for illegal marketing of overdraft services and using a telemarketing firm that signed some bank customers for the overdraft service without their consent.
Article in the Washington Post: Last week, Attorney General Loretta E. Lynch announced that five major banks were pleading guilty to criminal charges for what she described as a “brazen display of collusion” to manipulate the currency markets. Related Post What is a Zombie Debt? Banks Are Subverting Bankru… Citigroup to Pay Fannie Mae $968M […]
Announcement from the Consumer Financial Protection Bureau: WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) is launching a public inquiry into student loan servicing practices that can make paying back loans a stressful or harmful process for borrowers. Related Post Student Loan Load Kills Entrepreneurism The Affluent Borrowing More Student Loans Sallie Mae […]
Housing counselors can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Advice from housing counselors can be provided at little or no cost to consumers. Related Post CFPB Proposed changes to our Mortgage Servicing Ru… CFPB To Oversee Student Loan Servicers Flagstar Bank to Pay Homeowners 27.5 Million For I… CFPB […]
Why is this “ground breaking”? This is the first time that payment processors are held to the same standard of responsibility as the debt collectors. Related Post 20% of Consumers Have Credit Reporting Errors Supreme Court Finds Debt Buyers Free to Collect on… Reverse Mortgages & Their Pitfalls CFPB To Oversee Student Loan Servicers Flagstar […]