The Consumer Financial Protection Bureau published a notice this week in the Federal Register to collect comments on its request for approval of a consumer response intake form under the Paperwork Reduction Act. Collection & Credit Risk
WASHINGTON The Consumer Financial Protection Bureau has its sights set on prepaid and debit cards offered to college students as such products are filling the gaps left by credit card issuers which have largely left the space, according to a study released by the agency Monday. Collection & Credit Risk
WASHINGTON The financial services industry believes it has finally discovered proof that the Consumer Financial Protection Bureau uses flawed methods to detect possible discrimination in auto loans. Collection & Credit Risk
The Consumer Financial Protection Bureau will hold a field hearing on medical debt collections at noon, EST on Dec. 11 in Oklahoma City. Collection & Credit Risk
Premier Consulting Group settled CFPB charges on Thursday, a month after another debt settlement firm's case closed with a nine-year prison sentence for its owner. Collection & Credit Risk
The CFPB has hit the auto dealer DriveTime Automotive Group, and its financing arm DT Acceptance Corp., with an $ 8 million fine, alleging that the group made overly aggressive debt collection calls and provided inaccurate data to the credit reporting agencies. Collection & Credit Risk
Today, I want to share with you the CFPB Ombudsman’s third annual report, which I delivered to Director Cordray. For those people not familiar with our role, we are an independent, impartial, and confidential resource that assists consumers and companies in informally resolving issues with the CFPB. We have a new section in our report [...]
Michael Levitis, the owner of a New York debt settlement company, was sentenced to nine years in prison Wednesday after pleading guilty in a fraud scheme that law enforcement officials said victimized 1,200 people with false promises of relief from credit card companies and banks. Collection & Credit Risk
During the past week, consumer and industry groups have lobbied the agency in different directions, with consumer groups arguing the agency did not go far enough and lenders saying it went too far in seeking more data from lenders. News
Naming an inspector general at the Consumer Financial Protection Bureau would result in a net cost of $ 49 million between 2015 and 2024, according to a Congressional Budget Office report. Collection & Credit Risk
