A Crash Course on the CFPB and Why it Matters to all Future Homeowners
Last week the federal government announced the new terms the Consumer Financial Protection Bureau created. The CFPB, the answer to the rampant abuse of mortgage finance practices the mortgage industry...
View ArticleThe CFPB Proposes E-Closing Pilot Program
Closing can be very stressful. All that check writing and paperwork can leave even the most collected person a nervous wreck. The Consumer Financial Protection Bureau recognizes the strain some...
View ArticleConsumers Over-Penalized for Medical Debt in Collections
If you have medical debt in collections, you might be facing harsher penalties. The Consumer Financial Protection Bureau reports that many consumers’ credit scores are being unfairly penalized for...
View ArticleJohn Hope Bryant Talks about New Book and CFPB Partnership
In part three of this series, Black Enterprise speaks with John Hope Bryant to learn more about his efforts to eradicate poverty and increase financial literacy through a partnership with the Consumer...
View ArticleCFPB Reports on Payday Lenders and Debt Collectors
The Consumer Financial Protection Bureau is responsible for overseeing depository institutions and credit unions with total assets of more than $10 billion and their affiliates. The Bureau also has...
View ArticleCFPB Assesses How Mobile Banking Impacts Low-Income Consumers
The Consumer Financial Protection Bureau is investigating the benefits and challenges of mobile financial services. Part of the investigation will explore how mobile technologies affect unbanked and...
View ArticleCFPB Launches Initiative to Provide Financial Education to Low-Income Consumers
(Image: ThinkStock) The Consumer Financial Protection Bureau announced its partnership with national and local organizations to train social services staff to offer financial education and tools to...
View ArticleCFPB Study: Many Owners of Manufactured Homes Have Pricey Loans
Image: ThinkStock If you’re the owner of a manufactured home, you’re most likely digging deeper into your pockets than other homeowners. A recent study by the Consumer Financial Protection Bureau...
View ArticleDebt Collection Practices a Top Complaint for Older Americans
If the thought of getting a debt-collection call gives you the chills, you’re not alone. The Consumer Financial Protection Bureau reports that debt collection is one of the top complaints for older...
View ArticleCFPB Proposes Expanded Foreclosure Protections
The foreclosure process can be draining. In order to alleviate some of the stress, the Consumer Financial Protection Bureau has proposed additional steps that would protect home owners and strained...
View ArticleCFPB Takes Action Against Debt Settlement Firm
Sometimes debt collectors can be downright sneaky. Thankfully, the Consumer Financial Protection Bureau is here to protect us from abusive practices. This week, the CFPB requested that a federal...
View ArticleCFPB Announces New Rules for Medical Debt Collection and Reporting
(Image: Thinkstock) If you have an outstanding medical debt on your credit report, then you understand the stress that often comes along with it. The Consumer Financial Protection Bureau notes that...
View ArticleCFPB Announces Consumer Saving Research Project
(Image: ThinkStock) The Consumer Financial Protection Bureau announced a research program that would assess the effectiveness of certain habits designed to foster positive saving habits. The focus will...
View ArticleCFPB Fights Student Debt Relief Scams
Some students who were seeking debt relief ended up being lured into a sneaky scam. Recently, the Consumer Financial Protection Bureau took action against two student debt relief scams that duped...
View ArticleCFPB Report Reveals Decline in College Credit Card Agreements
Image: File If you’ve been wondering why it’s so difficult to locate your college or university’s credit card agreement with various issuers, wonder no more. Results from the Consumer Financial...
View ArticleCFPB Sues Company Over Misleading Credit Card
Image: File The Consumer Financial Protection Bureau is suing Texas-based company Union Workers Credit Services for allegedly tricking consumers into paying fees to sign up for a bogus credit card. It...
View ArticleCFPB Releases Report on Loopholes in Military Lending Act Rules
(Image: Thinkstock) The Consumer Financial Protection Bureau released a report that shines a light on the fact that loopholes in the Military Lending Act rules are causing servicemembers to incur extra...
View ArticleCFPB Releases Safe Student Account Scorecard
Image: Thinkstock The Consumer Financial Protection Bureau announced that it is looking for consumers to weigh in on its Safe Student Account Scorecard. This new tool would serve to assist colleges...
View ArticleCFPB Launches Tool for Home Owners
Image: ThinkStock The Consumer Financial Protection Bureau is now offering resources to help home owners and home buyers gain more information about mortgages. The new service, called Owning a Home,...
View ArticleNew Changes Coming for “Know Before You Owe” Mortgage Rules
Image: ThinkStock The Consumer Financial Protection Bureau announced that it has added two updates to the “Know Before You Owe” mortgage disclosure rules. The CFPB notes that for the past 30 years, it...
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