The CFPB has released this report about debt collection complaints made by older consumers (those identifying themselves as 62 or older). The report reveals that older consumers suffer similar collection problems to consumers generally. Nearly 50% of complaints are about...
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The CFPB’s Fall 2014 supervisory highlights, covering supervisory activity between March and June, points to failings by student loan servicers and debt collectors. The highlights identified six failings by student loan servicers, including misleading statements to consumers and telephone harassment....
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The CFPB’s Student Loan Ombudsman has issued a report on consumer complaints about student loans. Of particular interest is situation of private student loan borrowers, whose loans were securitized (bolding added by me for emphasis): While securitization is often closely...
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The Department of Defense is proposing to expand the reach of the Military Lending Act’s interest rate cap. The Act caps the interest rate on some kinds of loans to servicemembers at 36%. At present the Act’s cap applies to...
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The CFPB started collecting consumer complaints regarding debt collection in July, 2013. Fourteen months later, the data for Maryland paint an interesting picture of the collection industry’s activities in the state. Continue reading CFPB Consumer Complaints Database: A Portrait Of...
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CFPB has fined U.S. Bank over its sale of two identity & credit protection add-on products they offered credit card customers. “Privacy Guard” and “Identity Secure” were paid services sold to credit card customers between 2003 and 2012. Sold as...
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