Credit reporting issues highlighted
Complaints about credit reports and from consumers in Louisiana were spotlighted in the latest monthly snapshot from the Consumer Financial Protection Bureau.
Complaints about credit reports and from consumers in Louisiana were spotlighted in the latest monthly snapshot from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau has launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score.
Richard Cordray, director of the Consumer Financial Protection Bureau, allegedly used private communication equipment to hide his contact with high-level operatives in the Democratic party during the election season.
The tactics used by TCF Bank, for which the Consumer Financial Protection Bureau filed a lawsuit against the company, are no different than the methods employed by insurance salesmen, and the bureau will be hard pressed to prove consumers didn’t understand what they were signing up for, argues Publisher Tom Bengtson.
Mortgage servicing and misapplied funds are major sources of consumer complaint, according to the latest monthly complaint snapshot from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau fined Prospect Mortgage $3.5 million for improper mortgage referrals, in what the regulator calls a “kickback” scheme.
The Consumer Financial Protection Bureau targeted MasterCard and UniRush, a prepaid card issuer, over a technical glitch with a platform migration that left some consumers unable to access funds in a timely manner.