CFPB Data on Auto Title Loans Is Flawed, Academics Say
Academics are challenging the Consumer Financial Protection Bureau's study of auto title loans, calling the findings inconsistent with state data.  more »
Consumers applying for a new mortgage are on average two to three times more likely to open a new auto loan or credit card account over the next 12 months, according to a new TransUnion study. Many of these consumers open these accounts as soon as one month after their existing mortgage payoff. more »
Bridgepoint Education, the parent company of Ashford University, announced in a corporate filing that it has received a second subpoena related to investigations by the California attorney general's office and the CFPB. more »
El Paso, Texas recently changed collection agencies pursuing unpaid traffic tickets, which has reportedly resulted in several thousand additional mailing contacts - and more complaints from irate consumers. more »
A new economic report showed little movement in consumer spending in March, despite lower gasoline prices, growth in real disposable income and a labor market showing steady improvement. more »
Complaints against collection agencies have dropped nearly 20% in two years and debt collectors in 2015 earned a higher complaint resolution rate than the all-industry rate, according to the Council of Better Business Bureaus. more »
CFPB Director Richard Cordray.
One in five short-term auto title loan borrowers have their vehicle seized because they cannot pay the loan, according to a study released Wednesday by the Consumer Financial Protection Bureau. more »
The San Jose (Calif.) City Council is reviewing the best way to recover the overdue fines without also chasing people away. more »
Navient has been recognized as a 2020 Women on Boards Winning "W" Company for the second consecutive year. The national award is presented to companies with at least 20% women on their board of directors. more »
U.S. consumers who lost money to a Canada-based debt and mortgage relief scam will receive nearly $1.87 million. more »
"Many banks and financial companies avoid accountability by putting arbitration clauses in their contracts that block groups of their customers from suing them," said CFPB Director Richard Cordray.
In a major setback for banks, credit unions, credit card companies and many other financial firms, the Consumer Financial Protection Bureau on Thursday issued a proposal that would ban the use of arbitration clauses that prevent consumers from bringing class-action lawsuits. more »
The Federal Trade Commission filed charges Tuesday against the operators of a large-scale scheme involving dozens of companies that allegedly bilked consumers using fake newspaper subscription notices. more »
The latest U.S. Economy in a Snapshot report from the Federal Reserve Bank of New York reveals consumer spending increased slightly in February. more »

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