On August 1, 2017, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released a “special edition” of its monthly complaint report. Rather than focus on particular financial products or markets like the Bureau’s standard monthly complaint reports, the special edition highlights how companies have responded to consumer complaints and consumers’ views of those responses and … Continue Reading
On June 27, 2017, the CFPB released its monthly complaint report. As opposed to its typical monthly complaint reports, which highlight broad trends in complaints and focus on specific products and services as well as regions, this month’s “special edition” report provides overall statistics on complaints the CFPB has received since it began accepting complaints in July 2011. … Continue Reading
On June 22, 2017, the CFPB announced a series of actions based on consumer complaints it has received about the manner in which student loan servicers handle the Public Service Loan Forgiveness (“PSLF”) program. PSLF is a federal student loan forgiveness program that provides borrowers in public service jobs, such as teachers, nurses, first responders, … Continue Reading
On April 25, 2017, the Consumer Financial Protection Bureau (“CFPB”) released its monthly complaint report. For the month of March 2017, the products and services generating the most consumer complaints were debt collection, credit reporting, and mortgages, collectively representing approximately 65% of all complaints received. This continues the trend from February 2017, when the same … Continue Reading
On March 28, 2017, the Consumer Financial Protection Bureau (CFPB) released its monthly complaint report. For the month of February 2017, the products and services generating the most complaints were debt collection, credit reporting, and mortgages, collectively representing over 60% of all complaints received. This is a shift over January, where the three most complained … Continue Reading
On February 28, 2017, the Consumer Financial Protection Bureau (“CFPB”) released its monthly complaint report. For the month of January 2017, the products and services generating the most complaints were debt collection, student loans, and credit reporting, collectively representing about 60 percent of complaints. This is the first time since the CFPB started releasing monthly complaint reports in … Continue Reading
On February 14, 2017, U.S. Senator Ted Cruz (R-TX) and Rep. John Ratcliffe (R-TX) introduced a bill in the House and Senate to abolish the CFPB. Excluding its introductory language, the bill reads in full: “The Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et seq.) is repealed, and the provisions of law amended … Continue Reading
On February 8, 2017, the Consumer Financial Protection Bureau (“CFPB”) released its monthly complaint report. For the month of December 2016, the products and services generating the most complaints were debt collection, credit reporting, and mortgages, collectively representing about 65 percent of complaints. In a year-to-year comparison covering the three-month time period between October and December in 2015 … Continue Reading
On January 30, 2017, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint in the Eastern District of California against a group of law firms and attorneys, alleging that the defendants charged illegal fees in a debt relief scheme targeted at “vulnerable consumers suffering financial difficulties” in violation of the Telemarketing and Sales Rule (“TSR”), … Continue Reading
On November 29, 2016, the Consumer Financial Protection Bureau (CFPB) released its monthly complaint report. For the month of October 2016, the products and services generating the most complaints were debt collection, credit reporting, and mortgages, collectively representing about 65 percent of complaints. In a year-to-year comparison covering the three-month time period between August and … Continue Reading
On October 25, 2016, the Consumer Financial Protection Bureau (CFPB) released its monthly complaint report. For the month of September 2016, the products and services receiving the most complaints were debt collection, credit reporting, and mortgages. These three topics collectively represented almost two-thirds of the complaints submitted. Notably, debt collection complaints declined by 24 percent and … Continue Reading
