Nearly two-thirds of complaints about student loans center on “servicing breakdowns,” according to the latest installment of the Consumer Financial Protection Bureau’s monthly complaint reports.
The CFPB alleges that Weltman violated the Fair Debt Collection Practices Act and the Consumer Financial Protection Act in their correspondence with consumers.
The proposal contains a number of clarifications, technical corrections and minor changes to facilitate compliance with the 2015 updates to the Home Mortgage Disclosure Act rule.
The report from consumer advocacy group and industry watchdog U.S. PIRG Education Fund finds that medical debt is a large and increasing source of difficulty for consumers.
In its brief, the CFPB argues that under binding precedent, the only relevant question to determining the constitutionality of an agency’s structure is whether or not that structure is “of such a nature that it will impede the President’s ability to perform his constitutional duty…to take care that the laws are faithfully executed” (emphasis in the original).
Nearly 100 percent of complaints requiring a response submitted to the Consumer Financial Protection Bureau receive timely resolution, according to the bureau’s latest annual report.