You Searched For "CFPB" and got 20 results
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2 mins read
Student-loan borrowers are getting $100 million in payments after being 'cheated' out of lower bills by a major lender, a federal consumer watchdog says
Student-loan company Navient is barred from servicing federal loans in a settlement it reached with…
Ayelet Sheffey
10 mins read
The best way to fix your credit score? Ignore it.
Credit scores and reports can be daunting to think about for consumers. For companies from Experian…
Emily Stewart
2 mins read
America's subscription trap nightmare could be coming to an end
Canceling a TV subscription or gym membership can require jumping through hoops, draining your time…
Ayelet Sheffey
3 mins read
Consumers reported losing $210 million to scams across payment apps last year. A new bill wants to help future victims get their money back.
Consumers defrauded while using Zelle or other peer-to-peer payment apps might have increased reimb…
John Towfighi
2 mins read
Student-loan companies put up 'excessive barriers' and gave borrowers inaccurate information about debt relief, a federal consumer watchdog says
A new report from the CFPB found that student-loan companies engaged in "unfair and abusive acts" w…
Ayelet Sheffey
8 mins read
These student-loan borrowers qualify for debt cancellation through the government, but they're struggling to get the same relief on their private balances: 'I feel so defeated. I feel trapped.'
Biden forgave student loans for borrowers who went to schools accused of fraud. Private borrowers a…
Ayelet Sheffey
3 mins read
A major student-loan company has 'illegally' tried to collect payments from borrowers whose balances were already wiped out through bankruptcy, a federal watchdog alleges in a new lawsuit
The CFPB sued student-loan company PHEAA, accusing it of ignoring borrowers' bankruptcy discharges …
Ayelet Sheffey
2 mins read
Over 27,000 student-loan borrowers are getting $4.1 million in payments in the mail after debt relief companies 'lured' them into 'fake loan forgiveness claims,' a federal consumer agency says
The FTC accused companies of using a "scheme" to trick student-loan borrowers into paying illegal f…
Ayelet Sheffey
4 mins read
Biden's change to credit card fees could be worth nearly $3 billion to American consumers
The Biden administration set a new limit on credit card late fees, and it could be worth billions t…
Cork Gaines
2 mins read
3 top Democratic lawmakers are calling for an investigation into a major student-loan company, accusing it of 'loan forgiveness mismanagement' for millions of borrowers
Sens. Elizabeth Warren, Chuck Schumer, and Bernie Sanders are calling for an investigation into stu…
Ayelet Sheffey
3 mins read
The Biden administration wants to save Americans $3.5 billion a year by making sure banks aren't profiting too much off of overdraft fees
The Americans most likely to receive an overdraft fee are also those who have difficulty paying bil…
Juliana Kaplan,Ayelet Sheffey
2 mins read
Some student loan borrowers will get their debt canceled early, with their balances wiped out next month
Starting next month, some borrowers on income-driven repayment plans will get their debts discharge…
Juliana Kaplan,Ayelet Sheffey
2 mins read
Cutting off student-loan relief in September could cause borrowers to fall behind on payments at a rate that could 'reach or even surpass' pre-pandemic levels, NY Fed study finds
The NY Fed also found student-loan borrowers with other forms of debt, like credit card or mortgage…
Ayelet Sheffey
2 mins read
15 million student-loan borrowers have at least one of 5 big risk factors that could lead them down 'a difficult road' once payments resume, Biden's top consumer watchdog says
From student-loan company changes to a "record number" of borrowers entering repayment at once, the…
Ayelet Sheffey
3 mins read
Student-loan companies might be 'unlawfully collecting' your debt even if you got your loans wiped out in court, Biden's top consumer watchdog warns
This follows a letter from the CFPB, obtained by Insider, vowing to "closely scrutinize" student-lo…
Ayelet Sheffey
2 mins read
Americans are experiencing 'harassment and intimidation' from medical debt collectors, Kamala Harris says. Here are 4 ways she plans to prevent that.
Biden's administration announced a series of actions to lessen medical debt, including helping half…
Ayelet Sheffey
3 mins read
A student-loan company just got hit with a $1 million penalty for 'breaking the law' by lying to borrowers about loan forgiveness, Biden's top consumer watchdog says
"When student loan companies lie about cancellation and repayment programs for borrowers, they are …
Ayelet Sheffey
2 mins read
Your credit score could go up — 3 major firms won't count most medical debt in credit reports anymore, WSJ says
Equifax, Experian, and TransUnion announced they will wipe out nearly 70% of medical debt from cred…
Ayelet Sheffey
2 mins read
Student-loan borrowers don't have 'an effective check' over the companies that manage their debt, a Democratic lawmaker says
Rep. Katie Porter said the Education Department has a "conflict of interest" in the student-loan in…
Ayelet Sheffey
2 mins read
3 million Americans have more than $10,000 in medical debt, and they're skipping doctor's appointments because of it
The $195 billion medical debt bill harms Americans' health and their credit scores, a Kaiser Family…