U.S. Consumer Financial Protection Bureau - the best personalized free web-based Email en en U.S. Consumer Financial Protection Bureau Conquer fear of credit cards now, reap benefits later Young adults who are afraid of credit cards in the long shadow of the recession usually think only of the risks, rather than the role they play in establishing credit, consumer credit experts say. That can hold them back from building the credit history they'll need later on if they want to finance a car or get a mortgage. Data from the Consumer Financial... Thu, 18 May 2017 15:51:00 GMT 2017-05-18T15:51:00Z Big unwind begins: Republicans target crisis financial rules WASHINGTON (AP) — Emboldened by a business-friendly president, Republicans in Congress are moving to unwind the stricter regulations that took effect after the 2008 financial crisis and Great Recession. A House committee takes up legislation Wednesday that would defang the tighter rules. While passage by the GOP-controlled House could come in a few months... Tue, 25 Apr 2017 20:40:00 GMT 2017-04-25T20:40:00Z Republicans want to muzzle database of consumer complaints WASHINGTON (AP) — U.S. consumers filed nearly 300,000 complaints last year about their dealings with banks, credit card issuers and other financial services companies. Most of those complaints were compiled and made available for anyone to see as part of a database administered by the federal government. But Republicans working to overhaul the financial r... Mon, 24 Apr 2017 07:15:00 GMT 2017-04-24T07:15:00Z Regulators sue Ocwen Financial, say it mishandled mortgages NEW YORK (AP) — State and federal authorities have sued mortgage servicer Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts. The action sent shares of Ocwen plunging more than 50 percent. The Consumer Financial Protection Bureau said Thursday that the accounts Ocwen serviced were riddled with errors throughout... Thu, 20 Apr 2017 23:44:00 GMT 2017-04-20T23:44:00Z Trump administration wants freer hand to fire head of agency WASHINGTON (AP) — The Trump administration is backing a court case that would make it easier for the president to fire the head of the government's consumer finance watchdog agency. The Consumer Financial Protection Bureau has taken enforcement actions against many financial companies, angering the industry and Republican lawmakers, who accuse it of overreaching its authorit... Fri, 17 Mar 2017 23:32:00 GMT 2017-03-17T23:32:00Z Student loan defaults rising, study finds The stock market is up, unemployment is down but things aren't rosy for all Americans. A new analysis of government data by the Consumer Federation of America found that the number of Americans in default on their student loans jumped by nearly 17 percent last year. As of the end of 2016, there were 4.2 million Federal Direct Loan borro... Tue, 14 Mar 2017 18:29:00 GMT 2017-03-14T18:29:00Z How to avoid paying too much for your student loan Student loans can be expensive, but a few preventative steps can help avoid unnecessary costs. The Consumer Financial Protection Bureau recently issued a warning to consumers to pay close attention to their personal information on record with student loan servicers as errors are popping up that can cost borrowers hundreds of dollars more in additional student loan debt. ... Sun, 12 Mar 2017 14:11:00 GMT 2017-03-12T14:11:00Z Appeals court will reconsider ruling on consumer agency WASHINGTON (AP) — A federal appeals court said Thursday it will reconsider an earlier ruling that would have made it easier for President Donald Trump to fire the head of the government's consumer finance watchdog agency. The decision offers at least temporary job security for Richard Cordray, the director of the Consumer Financial Protection Bureau who h... Thu, 16 Feb 2017 21:11:00 GMT 2017-02-16T21:11:00Z Trump attacks restrictions on big banks, retirement advisers WASHINGTON (AP) — President Donald Trump has launched his long-promised attack on banking rules that were rushed into law after the nation's economic crisis, signing new orders after meeting with business and investment chiefs and pledging further action to free big banks from restrictions. Wall Street cheered him on, but Trump risks disillusioning his working-class voters. ... Sat, 04 Feb 2017 08:45:00 GMT 2017-02-04T08:45:00Z Trump launches his attack on banks' financial restraints WASHINGTON (AP) — President Donald Trump launched his long-promised attack Friday on banking rules that were rushed into law after the nation's economic crisis, signing new orders after meeting with business and investment chiefs and pledging further action to free big banks from restrictions. Wall Street cheered him on, but Trump risks disillusioning his working-class voter... Sat, 04 Feb 2017 00:07:00 GMT 2017-02-04T00:07:00Z Russell Simmons' RushCard fined $13 million for 2015 outage NEW YORK (AP) — RushCard, the debit card company founded by hip-hop mogul Russell Simmons, is being fined and forced to pay millions in restitution to customers that were affected by a 2015 outage that cut users off from their money. The Consumer Financial Protection Bureau said Wednesday that it has ordered RushCard and its payment processor, MasterCard,... Wed, 01 Feb 2017 19:02:00 GMT 2017-02-01T19:02:00Z Democratic state AGs move to defend consumer watchdog WASHINGTON (AP) — Attorneys general from 16 states and the District of Columbia are seeking to defend a U.S. consumer watchdog agency in court amid speculation that President Donald Trump may fire its director, Richard Cordray. The attorneys general, all Democrats, said in a court filing Monday they have "a vital interest in defending an independent and e... Tue, 24 Jan 2017 00:11:00 GMT 2017-01-24T00:11:00Z In debt and afraid: dealing with debt collectors It's a scary place to be — in debt and afraid. A new Consumer Financial Protection Bureau report found that more than one in four consumers felt threatened when contacted by debt collectors. The first-ever national survey of consumer experiences with debt collectors found consumers often faced calls that came too often, at odd hours and contained warnings of jail time and ot... Sun, 22 Jan 2017 17:36:00 GMT 2017-01-22T17:36:00Z Federal watchdog sues TCF Financial over overdraft fees WASHINGTON (AP) — Federal consumer finance regulators said Thursday they were suing TCF Financial Corp., alleging the bank deceived consumers so it could charge them exorbitant overdraft fees. Banks' overdraft fee tactics have long been considered predatory by consumer advocates. Such fees, which are charged when customers overspend their bank accounts, largely fall upon low... Thu, 19 Jan 2017 17:50:00 GMT 2017-01-19T17:50:00Z Consumer agency sues Navient over student loan repayments WASHINGTON (AP) — Federal regulators have sued Navient, accusing the biggest U.S. student loan company of making it harder for borrowers to repay loans by giving them bad information, processing payments incorrectly and failing to act on complaints. The Consumer Financial Protection Bureau filed the federal lawsuit against Navient Corp. and two subsidiari... Wed, 18 Jan 2017 22:45:00 GMT 2017-01-18T22:45:00Z Agency orders TransUnion, Equifax to pay $23M for false ads WASHINGTON (AP) — Federal regulators have ordered credit-reporting agencies TransUnion and Equifax to pay about $23 million for falsely advertising that the credit scores they sell consumers are the same ones lenders use to make credit decisions. The Consumer Financial Protection Bureau announced Tuesday that TransUnion and Equifax must pay fines totaling... Tue, 03 Jan 2017 23:35:00 GMT 2017-01-03T23:35:00Z