CFPB to Hold Debt Relief Event

The Consumer Financial Protection Bureau will host a day-long convening, ‘Evolutions in Consumer Debt Relief.’ The event will explore options for consumers facing unmanageable unsecured debt and limited credit options. March 10, 2020, at 8 AM at Consumer Financial Protection Bureau Basement Auditorium, 1700 G St. NWWashington, DC 20552. This event is open to the … Read more

I Want to Join in Lawsuit Against Lexington Law

Question: Dear Steve, Looking for someone to help me with the lawsuit against Lexington law I’m a client I heard through the grapevine that they are getting sued for in practices. My name is [X] I chosen Lexington law to help me with my credit score seems like I heard through the grapevine that they … Read more

Mulvaney CFPB Further Abandons Consumer Interests by Firing Volunteer Experts

Recently I wrote about the changing mission of the CFPB from consumer-oriented to business-oriented under acting director Mick Mulvaney. The agency is having such an identity crisis at the moment it is known by two names, the CFPB and BCFP. American Banker is reporting the further castration of the CFPB consumer mission with the new … Read more

CFPB or BCFP. Who Are They Today And Where Did Consumers Go?

The Acting Director of the CFPB, Mick Mulvaney (Bio coming soon), has indicated he wants the entity name changed to Bureau of Consumer Financial Protection. Recently I received a press release from the organization that still identifies itself as the Consumer Financial Protection Bureau and the press release is from the Bureau of Consumer Financial … Read more

CFPB to Shift Focus From Protecting Student Loan Debtors to Something Else

Recently the Trump administration has tried to change the law so individual states would not be able to enforce laws covering student loan debt collectors. The new head of the Consumer Financial Protection Bureau (CFPB), Mick Mulvaney, has just released the updated agenda for the CFPB. According to the new agenda, the CFPB would drop … Read more

2005 Bankruptcy Reforms “Failed Miserably” to Help Students

It’s official, bankruptcy reform in 2005 totally sucked for people with private student loans. Academic research shows lenders won and consumers lost. Here is the abstract from a paper in the Harvard Law & Policy Review by Alexei Alexandrov and Dalie Jimenez that looks at the data of how the 2005 Bankruptcy Abuse Prevention and … Read more

Trump Administration Wants to Neuter CFPB Who Brought More Than $750 Million in Relief for Student Loan Borrowers

The Consumer Financial Protection Bureau (CFPB) yesterday released a report that shows complaints by student loan borrowers have driven actions that have produced more than $750 million in relief for student loan borrowers and strengthened the student loan repayment process for millions more. These changes include automatic student loan interest-rate reductions for eligible servicemembers, more … Read more

If Trump Will Let CFPB Survive Their Work Will Protect Small Business Loans and Student Loans

I can’t imagine a measure of the the amount of effort that has been invested into making sure the Consumer Financial Protection Bureau is wiped off the face of the earth. Big business and companies wanting consumers to have less power in the financial world are not excited about the CFPB that has been fighting … Read more

CFPB Calls BS on Navient’s Claims It Doesn’t Have to Provide Best Advice

If you know anyone who has a student loan serviced by Navient, you should warn them about this article. Navient was sued by the Consumer Financial Protection Bureau (CFPB) for failing student loan debtors in a number of areas. One of the areas of contention was the CFPB position that although debtors were directed back … Read more

“Suck It Up Buttercup” – Trump Era Consumer Protection

This is not a political article. Just one about the realities of people on Main Street being protected against financial problems and scams. With the assault on the Consumer Financial Protection Bureau (CFPB) and the regulations that led to its formation under assault by the current administration it is not far-fetched to imagine a new … Read more

Navient Sued by CFPB for Failing All Student Loan Borrowers

Today the Consumer Financial Protection Bureau (CFPB) is suing the nation’s largest servicer of both federal and private student loans for systematically and illegally failing borrowers at every stage of repayment. For years, Navient, formerly part of Sallie Mae, created obstacles to repayment by providing bad information, processing payments incorrectly, and failing to act when … Read more

CFPB Release New Warnings for Companies That Use Service Providers

The Consumer Financial Protection Bureau has released new guidance regarding the relationship between debt relief companies (nonbanks) and underlying service providers. It’s a good time to review the relationship between any debt relief company and outside resources they utilize to deliver services. The CFPB Guidance The Consumer Financial Protection Bureau (CFPB) expects supervised banks and … Read more