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On June 1, 2013, the Consumer Financial Protection Bureau’s Escrow Requirement will go into effect, The rule, which requires certain creditors to create escrow accounts for a minimum of five years for higher-priced mortgage loans (HPMLs), also exempts HPMLs made by certain small creditors that operate predominantly in rural or underserved counties from meeting this requirement.
Since 1990, the average price of college tuition has been increasing two to three times faster than the Consumer Price Index. According to the College Board, a public policy research organization focused on education issues, “Tuition and fees at public universities have surged almost 130 percent over the last 20 years—while middle class incomes have stagnated.”
Filing complaints against financial institutions just got a whole lot easier for Newark, N.J. residents, thanks to the Consumer Financial Protection Bureau new partnership with the city of Newark to provide a complaint filing resource for residents.
It’s a parent’s worst nightmare: Your 19-year-old has maxed out another credit card, defaulted on a car loan and is two months’ behind on the rent.