The Consumer Financial Protection Bureau has issued a bulletin warning of  deceptive and/or abusive acts  and practices  in connection with solicitations that offer a promotional annual  percentage rate (APR) on a particular transaction over a defined period of time. These transactions include, but are not limited to, convenience checks, deferred  interest/promotional interest rate purchases, and… Read More

The Consumer Financial Protection Bureau has issued a bulletin in which the agency noted that it had found that mortgage servicers  to which loans were transferred  had failed to properly identify loans that were in a trial or permanent modification with the prior servicer at time of transfer. In other exams, CFPB  examiners found that servicers… Read More

FTC Action Halts Payday Loan Scheme That Bilked Tens of Millions From Consumers By Trapping Them Into Supposed “Loans” They Never Authorized FOR RELEASE September 17, 2014 TAGS: Bureau of Consumer Protection Consumer Protection Credit and Loans Debt Collection Consumer Privacy At the Federal Trade Commission’s request, a U.S. district court in Missouri has temporarily… Read More

Another story from “Pitch”:   Richard F. Moseley hit with Consumer Financial Protection Bureau lawsuit for illegal payday loans scheme Posted By David Hudnall on Tue, Sep 16, 2014 at 7:19 AM Another local payday operation nailed by the Feds. Last week, the Federal Trade Commission filed a lawsuit against Tim Coppinger, Ted Rowland and the dozens of shell companies they allegedly… Read More

SEP 29 2014 Prepared Remarks of CFPB Director Richard Cordray on the Flagstar Enforcement Action Press Call BY RICHARD CORDRAY Today the Consumer Financial Protection Bureau is taking its first enforcement action under the Bureau’s new mortgage servicing rules. We are entering an order against Michigan-based Flagstar Bank for violating those rules by failing borrowers and… Read More