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.

Credit Repair Scams – $2 Million for Misleading Consumers & Illegal Fees

santander-bank

Santander Bank Fined $10 Million for Illegal Overdraft Practices

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.

Mortgage Modification Frauds

Big Banks Plead Guilty to Criminal Charges

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. 

Student Loans – CFPB Helping Deal with Financial Nightmare

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.

CFPB Issues Guidance on Housing Counselor Requirements

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.