(CFPB-PR-241205.2) (12-05-24) CFPB Announces Return of $1.8 Billion in Illegal Junk Fees to 4.3 Million Americans Harmed in Massive Credit Repair Scheme – Payments to victims of Lexington Law and CreditRepair.com are the largest-ever distribution from the CFPB’s victims relief fund Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) is distributing $1.8 billion to […]
Category: CFPB Press Releases
CFPB Press Releases (GO) are a vital resource for consumers, financial institutions, and the media, providing important updates on the agency’s efforts to protect consumers and promote fair practices in the financial sector. By disseminating timely and relevant information, the CFPB fosters transparency and accountability while empowering consumers to make informed financial choices. Staying informed about these press releases is essential for understanding the evolving landscape of consumer finance and protection.
(CFPB-PR-241205.1) (12-05-24) CFPB Takes Action Against Climb Credit and Investment Firm 1/0 for Deceiving Borrowers About Coding Bootcamps and Vocational Programs – Companies illegally lured students in with false promises of quality education and job placement success stories Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action against student lender Climb Credit […]
CFPB-PR-241204-2 (12-04-24) CFPB Bans Student Loan Pro and Owner for Fee Harvesting Scheme – Company unlawfully charged upfront fees to borrowers for accessing free debt relief programs Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action to permanently ban Student Loan Pro and Judith Noh, its owner, from offering or providing consumer […]
CFPB-PR-241204-1 (12-04-24) Agencies Issue Statement on Elder Financial Exploitation Excerpt: WASHINGTON, D.C. – Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators issued a statement (PDF 11-pages) today to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation. Older adults […]
CFPB-PR-241203-1 (12-03-24) CFPB Proposes Rule to Stop Data Brokers from Selling Sensitive Personal Data to Scammers, Stalkers, and Spies – Rule seeks to protect Americans from crime and illegal foreign surveillance Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed a rule to rein in data brokers that sell Americans’ sensitive personal and […]
CFPB-PR-241121-1 (11-21-24) CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking” – Final rule brings supervision to Big Tech and other widely used digital payment apps handling over 50 million transactions annually Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized […]
CFPB-PR-241115-1 (11-15-24) CFPB Report Details Student Borrower Harms from Servicing Failures and Program Disruptions – Analysis of 18,000 borrower complaints reveals payment processing errors, inaccurate bills and repayment information, and unhelpful customer service Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released the annual report of the CFPB Student Loan Ombudsman, highlighting the severe difficulties reported […]
CFPB-PR-241114-1 (11-14-24) CFPB Orders Global Tel Link to Pay $3 Million for Illegally Freezing and Draining Payments Accounts for People Who Are Incarcerated – Company profited by taking funds from inactive accounts and blocking money transfers from friends and family used to pay for basic needs Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau […]
CFPB-PR-241113-2 (11-13-24) CFPB Survey Reveals Impacts of Student Loan Debt Relief and Repayment Challenges – Debt relief recipients report being able to make beneficial changes in their lives; many borrowers still unaware of repayment options Excerpt: WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) issued its first results from its Student Loan Borrower […]
(CFPB-PR-241113-1) (11-13-24) CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets – Lenders less likely to encourage Black entrepreneurs and more often steer them toward alternative financing Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a study revealing significant disparities in how lenders treat Black and white small business owners seeking […]