Major Consumer Groups Sue Director of CFPB for Sucking Up to Financial Industry

The National Association of Consumer Advocates (NACA), United States Public Interest Research Group (USPIRG), and Professor Kathleen Engel have filed a complaint for declaratory and injunctive relief against Kathleen Kraninger as Director of the Consumer Financial Protection Bureau (CFPB). The issue alleged in the complaint is that the CFPB has stacked the deck when it … Read more

Consumer Groups Call on CFPB to Provide Easy Access to Complaints Filed Against Companies

Consumers Union and a bunch of other groups have submitted a letter to the CFPB to ask that consumers have easy access to complaints filed against companies. Washington D.C.- A coalition of consumer, civil rights, good government, and community groups have called on the new federal financial watchdog, the Consumer Financial Protection Bureau (CFPB), to … Read more

Consumer Groups Make the Case to Not Exempt Debt Settlement Attorney Model From Regulation

This letter was sent in by a loyal tipster (send in your tips here), thank you. Oppose the House Offer on H.R. 4173 to Exempt Attorneys Engaged in Unfair, Deceptive or Abusive Consumer Financial Practices June 22, 2010 House-Senate Conferees, H.R. 4173 Washington, DC 20510 Dear Senator or Representative: Americans for Financial Reform and the … Read more

There’s Big Bucks in Bad Debts

For decades, credit-card companies and other firms would eventually give up after attempting to collect from deadbeat customers. Now, companies are packaging and selling many of those overdue accounts for pennies on the dollar to debt collectors. The collectors then aggressively pursue the debtors to repay, or they turn around and resell those same debts … Read more