Consumer Watchdog Files Suit Against For-Profit College

Students

Consumer Watchdog Files Suit Against For-Profit College

Consumer Watchdog Files Suit Against For-Profit College

Many people have seen an ad for ITT Tech at some point — they’re little features of graduates talking about the opportunities their degrees afforded them, and video of the happy graduates playing with their kids and smiling with their families accompany the anecdotes used to sell an ITT education. Smiles may be scarce at… Read More

Can a Credit Card Company Really Come to Your House?

Credit Cards

Can a Credit Card Company Really Come to Your House?

Can a Credit Card Company Really Come to Your House?

There’s a new reason to carefully read the fine print in contracts you sign: to find out who might be coming for dinner. L.A. Times consumer reporter David Lazarus reported this week that credit card issuer Capital One’s cardholder agreement includes some surprising terms. According to Lazarus, the agreement says the company may “contact you… Read More

A New Mortgage Tool From the CFPB

Mortgages

A New Mortgage Tool From the CFPB

A New Mortgage Tool From the CFPB

Successful problem solving often depends on the tools you’re given: The better your information, the more equipped you are to identify and solve an issue. That’s the idea behind the Consumer Financial Protection Bureau’s new mortgage data tool and the new data-reporting requirements it plans to propose this year. The CFPB today announced the release… Read More

Should Banks Be in the Marijuana Business?

Credit Cards

Should Banks Be in the Marijuana Business?

Should Banks Be in the Marijuana Business?

For many people like me, starting your own business is the embodiment of the American dream – you get to be your own boss, build something from the ground up and revel in its success. But for some budding entrepreneurs in several states their small businesses have become big financial nightmares – and not because… Read More

American Express to Pay $75.7M for Credit Card Add-Ons

Credit Cards

American Express to Pay $75.7M for Credit Card Add-Ons

American Express to Pay $75.7M for Credit Card Add-Ons

The Consumer Financial Protection Bureau and American Express announced a $75.7 million settlement Tuesday related to illegal practices associated with American Express add-on products, like payment protection and credit monitoring. The products in question have been discontinued, as have the tactics used to sell and to charge consumers for the products. Though the marketing and… Read More

Consumer Watchdog Announces Largest Discriminatory Auto Lending Case Ever

Auto Loans

Consumer Watchdog Announces Largest Discriminatory Auto Lending Case Ever

Consumer Watchdog Announces Largest Discriminatory Auto Lending Case Ever

The Consumer Financial Protection Bureau announced Friday the largest auto loan discrimination case to date, in which Ally Financial Inc. and Ally Bank has been ordered to pay $80 million in damages to 235,000 minority borrowers impacted by their discriminatory pricing system. The enforcement action stems from an investigation started in 2012, through which the… Read More

Why Debt Collectors Need New Rules

Managing Debt

Why Debt Collectors Need New Rules

Why Debt Collectors Need New Rules

What consumer protection law is about as old as the arcade game Pong and nearly as antiquated? The Fair Debt Collection Practices Act — the law that governs what’s become a multi-billion-dollar financial industry segment made up of companies that chase past-due debts from an estimated one in 10 Americans. When the FDCPA was put… Read More

A New Debt Collection Law: What It Means for You

Managing Debt

A New Debt Collection Law: What It Means for You

A New Debt Collection Law: What It Means for You

Companies that purchase charged off consumer debts owed by California residents will have some new and stricter guidelines to follow starting on Jan. 1, 2014. The changes are outlined in California’s Fair Debt Buying Practices Act. Most of the new rules resulting from the Act will be applied to debts purchased after the enactment date…. Read More

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