consumer financial protection bureau
CFPB to Supervise Debt Collection Agencies
Receiving a phone call from a debt collector can create anxiety and humiliation for people with unpaid balances. In recent years, however, there have been reports of debt collection agencies relying on intimidation, threats, unethical and, in some cases, illegal practices to bully borrowers into paying up. In an effort to put an end to […]
2011 Debit Fees Were Shut Down, But What Other Charges Are to Come in 2012? Tips to Prevent Your Bank from Taking Advantage of You
Remember the bad publicity that Bank of America and several other major banking institutions inflicted on themselves in late 2011 when they announced a new $5.00 monthly checking/debit card fee? Well, after several nationwide protests from angry customers, BOA caved and retracted their monthly debit fee agenda. The reason financial institutions are looking for new […]
Billing disputes and interest rates top complaints from cardholders
Consumers complained about issues they’ve had with credit card issuers to the Consumer Financial Protection Bureau during the three-month period ending in October and the agency divulged these grievances in a report. According to the report, most of the complaints were regarding billing disputes, annual percentage/interest rates, identity theft, fraud and embezzlement. Other complaints included […]
Have You Been Scammed? 6 Essential Resources to Fight Back
As of July 2011, over 80,000 Americans have reported suspicious and fraudulent activity concerning mortgage scams. The FBI has estimated more than $3.2 billion has been lost to scam artists. If you actually sit back and look at the numbers, it’s astonishing how many Americans have been victimized by some sort of fraud, particularly over the […]