Today, we’re announcing an enforcement action against Alabama-based Regions Bank for charging overdraft fees to consumers who had not opted-in for overdraft coverage. We’re requiring Regions Bank to fully refund all affected consumers – hundreds of thousands of consumers have already been refunded $ 49 million in fees. We’re also fining the company $ 7.5 [...]
Join us for a Community Bank Advisory Council meeting with Director Cordray where we will discuss credit scores and credit reporting and implications for community banks. The meeting will take place on Wednesday, April 22 from 3:00 to 4:30 p.m. The meeting will be held at: Consumer Financial Protection Bureau 1275 First Street, N.E. Washington, [...]
Many retirees depend on a pension to cover day-to-day as well as occasional unexpected expenses, such as health emergencies or home repairs. We’ve heard that some retirees with pensions who are facing financial challenges have responded to ads for cash advances on their pensions. Although pension advances may seem like a “quick fix” to your [...]
Join us for a Credit Union Advisory Council meeting with Director Cordray on Thursday, March 12 from 3 to 5 p.m. EST. During this meeting we will discuss the role of credit unions in cultivating consumer financial education and financial capability. Consumer Financial Protection Bureau Auditorium 1275 First Street NE Washington, D.C. 2002 Washington, DC [...]
Reverse mortgages are a type of loan that allows homeowners, 62 and older, to borrow against the accrued equity in their homes. Reverse mortgages can help some older homeowners meet financial needs in retirement. Most reverse mortgages today are federally insured through the Federal Housing Authority’s (FHA) Home Equity Conversion Mortgage (HECM) program. We’ve heard [...]
Join us for a Consumer Advisory Board meeting with Director Cordray on Thursday, February 19 from 10 a.m. to 4 p.m. EDT. During this meeting we will discuss trends and themes related to consumer financial well being and medical debt. Consumer Financial Protection Bureau Auditorium 1275 First Street NE Washington, D.C. 2002 Washington, DC This [...]
How to apply For more information on how to apply to serve on the Consumer Advisory Board or one of these Advisory Councils you can: Review instructions on how to submit an application for membership Download an application Learn more about our Advisory Groups Review frequently asked questions for more information To be sure that [...]
Today we took action to put an end to two student loan debt relief scams that illegally tricked borrowers into paying upfront fees for federal loan benefits. In a joint filing with Florida’s Attorney General, we shut down student loan debt relief company College Education Services and, separately, we filed a lawsuit against Student Loan [...]
Debt collection is the top complaint we’ve received since September 2013. Out of all debt types, medical collections make up 52 percent of collection accounts on credit reports, far outpacing all other types of debt. Medical collections are so widespread, that an estimated 43 million consumers with an account in collection have medical debt. We [...]
Join us for a Community Bank Advisory Council meeting with Director Cordray where we will discuss mortgages and overdrafts. The meeting will take place on Wednesday, October 15 from 3:30 to 5:30 p.m. The meeting will be held at: Consumer Financial Protection Bureau 1275 First Street, NE Washington, D.C. 20002 This event is open to [...]
