National Credit Adjusters, LLC and Bradley Hochstein admit to illegal consumer debt collection practices. Company and Its Former CEO Engaged In Illegal Debt Collection Practices (Reprint from CFPB announcement 7/13/18) The Bureau of Consumer Financial Protection (Bureau) announced a settlement with National Credit Adjusters, LLC (NCA), a privately-held company headquartered in Hutchinson, Kansas, and its […]
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.
Mulvaney says Trump wants him to stop the CFPB from ‘strangling’ capitalism He now crushes the voice of the only organization that tries to protect you and me as consumers. November, 2017 Trump appointed Mick Mulvaney as “acting” director of the Consumer Financial Protection Bureau, at the same time he was also the director of […]
Could the CFPB’s Complaint Database Go Dark Because Trump’s Lackey Wants to Protect Big Business? Reprint from Findlaw, By Christopher Coble, Esq. on May 15, 2018 12:59 PM In the wake of the 2007-08 financial crisis, Congress created the Consumer Financial Protection Bureau, an agency tasked with protecting consumer rights when dealing with banks, credit unions, debt collectors, […]
New Help for Homeowners, Heirs or Spouses Two important sets of CFPB amendments to its RESPA and TILA mortgage servicing rules go into effect April 19, 2018. These amendments expand the rights of those inheriting homes, awarded a home in divorce, or otherwise succeeding in interest to a mortgage loan. The rules also offer an […]
Citibank Deceived Borrowers About Tax Benefits, Incorrectly Charged Late Fees and Interest, Sent Misleading Monthly Bills and Incomplete Notices 11/22/17 – The Consumer Financial Protection Bureau (CFPB) took action against Citibank, N.A. for student loan servicing failures that harmed borrowers. . Specifically, the Bureau found that Citibank: Citibank misled borrowers into believing that they were […]
Medical debt – number one cause for seniors filing bankruptcy According to an article in Forbes, the 65+ demographic now makes up a higher percentage of bankruptcy filers than it did a decade ago. Filing for bankruptcy is seen by many seniors as a social stigma. Some live in a nightmare where they are forced […]
ONCE AGAIN CONSUMERS LOSE TO BIG BUSINESS Reuters reports that Richard Cordray, director of the Consumer Financial Protection Bureau, will step down at the end of the month. Large companies (banks, auto finances, pay day loans and student loans, to name a very few) are ecstatic because this opens the door for Trump to nominate […]
Bank of America tries to bully a bankruptcy judge, ignoring the consequences of illegal acts, but the judge is not standing for it. October 19, 2017 – Article posted in Bloomberg.com. Bank of America seems to think they can bully a bankruptcy judge, like they did a California couple in a nightmare foreclosure, but the […]
Sued for Fraud – Federal Debt Assistance Association, LLC and Financial Document Assistance Administration, Inc. “FDAA” The CFPB alleges that FDAA’s so-called “debt validation” programs violated the law by falsely promising to eliminate consumers’ debts and improve their credit scores in exchange for thousands of dollars in advance fees.
Lenders Must Determine Upfront If Consumers Have the Ability to Repay Loans October 5, 2017 The Consumer Financial Protection Bureau (CFPB) has developed a new rule which has common-sense protections cover loans that require consumers to repay all or most of the debt at once, including payday loans, auto title loans, deposit advance products, and […]