That's the name of this article by C. Ryan Barber (possibly behind a paywall). Here's an excerpt: When the Consumer Financial Protection Bureau expanded its public database to include narratives of negative customer experiences, banks such as Wells Fargo and other industry players worried about being named and shamed. Now, a new public database could be going up […]
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I try not to use the blog to tout Public Citizen's own work, but nonetheless want to provide two updates on our work to maintain protections for student borrowers in the face of a Department of Education no longer interested in doing so: First, on Friday, Public Citizen and Harvard's Project on Predatory Student Lending […]
CFPB director Richard Cordray's prepared remarks on the new arbitration rule: Thank you for joining us on this call. Today, we are announcing a final rule that prevents financial companies from using mandatory arbitration clauses to deny groups of consumers their day in court. A cherished tenet of our justice system is that no one, […]
We’ve issued a new rule on arbitration to help groups of people take companies to court July 10, 2017 If you have opened a bank or credit card account, it’s likely that your contract included an arbitration clause. Arbitration clauses can limit your options if you have a legal issue with a financial […]
Yesterday, the Federal Trade Commission announced two actions potentially of interest to readers: The FTC announced that it halted an operation that unlawfully shared and sold consumers' sensitive data. The operators of a lead generation business agreed to settle charges brought by the FTC that the company misled consumers into filling out loan applications and […]
June 26, 2017 – Owner of New England Compounding Center Sentenced for Racketeering Leading to Nationwide Fungal Meningitis Outbreak June 22, 2017 – Pharmacy Owner and Director of Compliance Charged with Defrauding United States and Distributing Adulterated Drugs June 15, 2017 – Department of Justice Observes World Elder Abuse Awareness Day June 15, 2017 – […]
by Paul Alan Levy An important appeal is pending in the District of Columbia Court of Appeals – the highest appellate court in D.C. The federal government served D.C. warrants on Facebook, demanding access to the entirety of 90 days worth of communications in three separate Facebook accounts, including identifying information. (Presumably, the reason why […]
In case you missed it earlier this month, the Trump Administration has indicated it will turn its back on another Obama-era rule, this time at the Department of Education (ED). In November 2016, ED announced a new rule to protect federal student loan borrowers who are victims of fraud and other misconduct by predatory schools, […]
Still at work, the Consumer Financial Protection Bureau today filed two complaints and proposed final judgments in federal court against four California-based credit repair companies and three individuals for misleading consumers and charging illegal fees. The CFPB alleges that the companies charged illegal advance fees for credit repair services, and also misrepresented their ability to […]