Last Friday, the Consumer Financial Protection Bureau published its 2016 Consumer Response Annual Report, available here. The CFPB offered a few key takeaways: The CFPB handled 291,400 consumer complaints in 2016, a 7 percent increase over complaints handled in 2015. Debt collection, credit reporting and mortgages were the top three most-complained-about consumer financial products and […]
Author Archives: Allison Zieve
Jeff posted yesterday one of the amicus briefs filed in support of the CFPB in the pending DC Circuit case. The others amicus briefs in support of the CFPB are these: Public Citizen, Consumer Federation of America, Consumers Union, National Association of Consumer Advocates, and National Consumer Law Center, and Tzedek DC – Click here. Americans […]
The Federal Trade Commission announced today that it is mailing 5,232 checks totaling more than $2.7 million to people who lost money to Rincon Debt Management, a debt collection scheme that focused on people who were strapped for cash. The company’s owners are banned from the debt collection business. People who lost money are getting […]
FairWarning reports: Can a used car be marketed as “safe” or “certified” even if it has defective air bags, a faulty ignition switch or other potentially lethal problems? Yes, so long as the used car dealer discloses that the vehicle may be subject to a pending safety recall. That stance, taken by the Federal Trade […]
… because who doesn't want their online history collected and sold by internet companies? The New York Times has the story.
Still at work, the Consumer Financial Protection Bureau announced today action against credit reporting agency Experian for deceiving consumers about the use of credit scores it sold to consumers. Experian claimed the credit scores it marketed and provided to consumers were used by lenders to make credit decisions. In fact, lenders did not use Experian’s […]
An Urban Institute report issued today on the "American Health Care Act" finds that, "taking both tax reductions and benefit reductions into account, the average high-income family would be significantly better off and the average low-income family would be significantly worse off under the AHCA." Specifically, under the bill, "[t]he average family with less than […]
Consumerist reports that a hacker group claims to unprecedented access to iPhones and is threatening to remotely wipe them clean if Apple doesn’t pay a ransom. Motherboard reports that the group of hackers — known as the Turkish Crime Family — allegedly gained access to a list of between 300 million and 559 million iCloud […]
The New York Times reports: Wells Fargo and its leaders have expressed much contrition about the bank’s misdeeds, which included setting up as many as 2 million bank accounts without customers’ consent. Top executives have surrendered more than $90 million in compensation, fired employees at all levels and vowed to clean house. But the top […]
In an op-ed in The Hill, former Rep. Steve Israel (D-N.Y.) explains: While President Trump has kept the public busy with his latest theories about President Obama’s wire-taps, the “deep state” and Arnold Schwarzenegger’s ratings, the Republican Congress has been quietly pushing forward a legislative agenda that will have an all too real impact on […]