The Federal Trade Commission announced this week: The Federal Trade Commission has closed the book on a data broker operation that the agency alleges got personal information from people who thought they were applying for payday loans online, and sold it to a scam that tapped consumers’ bank accounts and credit cards without their consent. […]
Author Archives: Allison Zieve
This month's Consumer Financial Protection Bureau (CFPB) complaint snapshot highlights consumer complaints about financial services such as debt settlement, check cashing, money orders, and credit repair. The report shows that consumer complaints about these types of financial services generally revolve around issues of fraud or problems with reliable customer service. The report also highlights trends […]
A Consumer Financial Protection Bureau' blog post explains: This month marks the fifth anniversary of the CFPB Ombudsman’s Office, an independent, impartial, and confidential resource that assists consumers, financial entities, consumer groups, trade groups, and others in informally resolving process issues with the CFPB. As we observe this anniversary, today I also want to share […]
The New York Times reports: The National Highway Traffic Safety Administration is proposing a rule requiring automakers put labels on sun visors of all new vehicles with instructions on how to file safety complaints. The labels would be glued to passenger visors and tell people that complaints could bring an investigation or a possible recall. […]
The Toxic Substances Control Act (TSCA) as amended by the Frank R. Lautenberg Chemical Safety for the 21st Century Act, requires EPA to publish by December 19, 2016, a list of chemicals for review. Today, EPA announced the first ten chemicals it will evaluate for potential risks to human health and the environment under TSCA.The […]
In the wake of the Wells Fargo scandal, the Consumer Financial Protection Bureau has issued a bulletin warning banks that creating incentives for employees and service providers to meet sales and other business goals can lead to consumer harm. "Tying bonuses or employment status to unrealistic sales goals or to the terms of transactions may […]
Associated Press reports: New York's attorney general says President-elect Donald Trump has agreed to a $25 million settlement to resolve three lawsuits over Trump University, his former school for real estate investors. The deal announced Friday by Attorney General Eric Schneiderman would settle two class-action lawsuits in California and a civil suit filed by Schneiderman. […]
The Consumer Financial Protection Bureau has announced a request for information regarding consumer access to financial records: The Dodd-Frank Wall Street Reform and Consumer Protection Act provides for consumer rights to access financial account and account-related data in usable electronic form. The [CFPB] is seeking comments from the public about consumer access to such information, including […]
Since the Consumer Financial Protection Bureau began accepting mortgage complaints in 2012, it has received more than 12,500 mortgage complaints from servicemembers, veterans, and their families. In a new report, the CFPB reviews and analyzes about 1,800 of those complaints related to mortgage refinancing. The report finds that veterans complain that "the solicitations and advertisements they […]
The Federal Trade Commission has a new financial readiness website designed for mobile devices to help members of the military community navigate personal financial decisions in light of the unique challenges they face, such as frequent relocations and deployment. The FTC's provides the details, here.