Today, we’re releasing our third Snapshot of Complaints Received from Servicemembers, Veterans and their Families. The report details the data and trends from consumer complaints we’ve received from members of the military community since July 2011. Here are just a few highlights: Debt collection complaints have continued to rise since our last report, and now [...]
Former Treasury Secretary Larry Summers, who sits on Lending Club's board, said in a speech Wednesday that such technology-focused marketplace lenders should be given a fair chance to compete. News
Today, we held a field hearing on payday lending in Richmond, Va. The hearing featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but we’ll have a recording available here soon. Consumer Financial Protection Bureau
Today, we held a field hearing on arbitration in Newark, N.J. The event featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but we’ll have a recording available here soon. Consumer Financial Protection Bureau
Fannie Mae reported net income of $ 14.2 billion last year, a sharp decline from the record $ 84 billion in 2013 that was inflated by accounting for tax credits. Collection & Credit Risk
Massachusetts Attorney General Maura Healey has asked the Department of Education to forgive the school loans of hundreds of students from the state enrolled at Corinthian Colleges Inc., a for-profit company investigated by federal authorities for practices that left many students deeply in debt. Collection & Credit Risk
At a hearing Tuesday, GOP lawmakers hammered FHFA Director Mel Watt for four hours over his recent decisions to allow Fannie Mae and Freddie Mac to buy loans with lower downpayments and provide money to two affordable housing trust funds. News
Thirteen U.S. senators, led by Sen. Elizabeth Warren, D-Mass., sent a letter to the Department of Education this week calling for it to use its authority to discharge federal student loans for students who attend colleges that break the law. Collection & Credit Risk
Today, we held a field hearing on medical debt collection in Oklahoma City, OK. The hearing featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but we’ll have a recording available here soon. Consumer Financial Protection Bureau
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 [...]
