Tag Archives: Consumer Financial Protection Bureau

Debt Collection ‘Factory’ Preyed On Broke Americans: Lawsuit

By Hunter Stuart A federal watchdog is suing a collection agency that allegedly operated like a “factory” churning out lawsuits against cash-strapped borrowers, often using misleading, deceptive and illegal practices. The suit is the latest effort by regulators to crack … Continue reading

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4 debt collection practices that need to change

By Gerri Detweiler Major changes may be coming to the debt collection industry. The Consumer Financial Protection Bureau (CFPB) published an announcement asking for comments on issues facing consumers and the industry, while it prepares to develop new rules around … Continue reading

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The truth behind 9 debt myths

By Dana Dratch That free advice you get from friends, co-workers or the “charming” bill collector on the phone could be worth even less that what you paid for it.From the perils of acknowledging old debts to the odds of … Continue reading

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6 Things Debt Collectors Can and Can’t Do

By Sheiresa Ngo This week, the Consumer Financial Protection Bureau released its annual report outlining how it has worked to enforce the Fair Debt Collection Practices Act. Their activities have included efforts to make it easier for consumers to file … Continue reading

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How One State Succeeded in Restricting Payday Loans

In 2009, consumer advocates in Washington State decided to try a new approach to regulating payday loans. Like reformers in other states, they’d tried to get the legislature to ban high-cost loans outright — but had hit a brick wall. … Continue reading

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Confirming Rich Cordray to Lead the CFPB

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On Victory Drive, Soldiers Defeated by Debt

By Paul Kiel and Mitchell Hartman Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded by storefront lenders who charge high annual percentage rates, sometimes exceeding … Continue reading

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Fighting to Protect Consumers

Elizabeth Warren personally delivers to all of us the importance of the Consumer Financial Protection Bureau. Hopefully, the organization and the vision that President Obama and Ms. Warren share will not be derailed by the party of “NO.” Elizabeth Warren: Fighting … Continue reading

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