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Racism, sexism, discrimination reported at federal agency

Employees from the U.S. Consumer Financial Protection Bureau, America's newest federal agency and pet project of Democratic Senator Elizabeth Warren of Massachusetts, are seeking protection from "racially offensive, sexist, or discriminatory behavior," according to internal agency documents and interviews obtained by the Washington Times. Show More Summary

CFPB: Company Should Pay $7M For Processing Illegal Fees For Debt-Relief Services

Charging up front for debt-relief services without any actual results for the customer is illegal. But despite that, says the Consumer Financial Protection Bureau, a payment processing company processed millions of dollars worth of illegal fees from consumers. As a result, the CFPB says in its complaint today that it wants a federal district court to give the okay to … [More]

What Do Banks Have to Hide From CFPB's Efforts to 'Make the Market for Credit Work Better'?

This month, two different but powerful Wall Street bank lobbies launched self-serving attacks on the Consumer Financial Protections Bureau's most recent efforts to make banking markets more transparent. What do the banks have to hide? The...Show More Summary

SHOCKER: Revolving door at regulator CFPB enables former bureaucrats to cash in at taxpayers’ expen…

SHOCKER: Revolving door at regulator CFPB enables former bureaucrats to cash in at taxpayers’ expense. Peter Carroll helped shape the mortgage regulations at the Consumer Financial Protection Bureau until this spring. Now, Carroll is senior vice president of capital markets at Wells Fargo Home Mortgages, the largest private mortgage lender in the country. Carroll’s colleague, [...]

This auto finance company’s ‘flawed computer system’ may have hurt thousands of people’s credit scores

The Consumer Financial Protection Bureau announced a $2.75 million settlement with Texas-based First Investors Financial Services Group on Wednesday. The agency says the auto finance company knowingly and "systematically" provided inaccurate...Show More Summary

Getting the Message Across

This past weekend I've immersed myself in two David vs Goliath stories. The first is Elizabeth Warren's book A Fighting Chance. The formation of the Consumer Financial Protection Bureau -- a new government agency with some teeth to prevent...Show More Summary

Cryptocurrencies From a Historical Perspective

The Consumer Financial Protection Bureau (CFPB) has unparalleled powers over nearly every consumer financial product and service. Given that virtual currencies can serve as a form of electronic money, the CFPB has, predictably, decided...Show More Summary

eBay is in talks about accepting Bitcoin payments

Bitcoin’s value recently fell below $500, but it quickly recovered. The exact cause has yet to be determined, but a recent warning issued by the Consumer Financial Protection Bureau (CFPB) is one of the probable reasons for its abrupt decline … Continue reading ?

Feds shut down "scam" targeting U.S. soliders

Consumer Financial Protection Bureau says retailer improperly charged service members

Consumer protection agency urges Americans to beware of Bitcoin, other cryptocurrencies

Photo by Flickr user btckeychain The Consumer Financial Protection Bureau released a primer on Monday meant to warn consumers about the potential dangers related to popular cryptocurrencies like Bitcoin, Litecoin, and Dogecoin. The CFPB,...Show More Summary

The Bitcoin Bugle: Still Relevant!

Months after everyone else got into a lather about it, word of this strange “cryptocurrency” called “bitcoin” has reached the desks of the folks over at the Consumer Financial Protection Bureau. And now that no one cares about them anymore, the regulator is leaping onto the case. Show More Summary

U.S. Consumer Financial Protection Bureau Warns Over Investing in, Using Cryptocurrencies

Bitcoin and other virtual currencies can expose users to a number of risks, including hackers and scammers trying to take advantage of hype surrounding the technology, a U.S. consumer protection agency warned Monday.Bitcoin and other...Show More Summary

Consumer bureau now taking — and expecting — Bitcoin complaints

While members of Congress might be holding events on Capitol Hill to celebrate Bitcoin, a dozen blocks west, the U.S. Consumer Financial Protection Bureau is now saying that it's wary of the risks associated with such virtual currencies. What risks? "Unclear costs, volatile exchange rates, the threat of hacking and scams and that companies may not offer […]

U.S. Watchdog Calls Bitcoin 'Wild West' Of Finance

By Douwe Miedema WASHINGTON (Reuters) - Virtual currencies such as bitcoin are the "Wild West" of financial products because of risks including huge swings in exchange rates, the U.S. Consumer Financial Protection Bureau said on Monday. Show More Summary

Feds warn about Bitcoin and other virtual currencies

The Consumer Financial Protection Bureau says it will now collect complaints from consumers

Consumer Protection Bureau Warns on Bitcoins

The Consumer Financial Protection Bureau said Monday that it would begin accepting complaints on virtual currencies, becoming the latest regulator to try to address issues that arise with the sector.

Are Prepaid Debit Cards the Next Big Target of the Consumer Financial Protection Bureau?

In yet another sign of the mainstreaming of prepaid debit cards (aka re-loadable cards), the Consumer Financial Protection Bureau (CFPB) recently announced that it would begin accepting complaints from Americans encountering problems with these increasingly popular financial products. Show More Summary

Your Credit Score May Go Up This Fall: What New Scoring Methods Mean for You

FICO credit scores are getting revised starting this Fall, with two big changes being made under pressure from the Consumer Financial Protection Bureau which wants to see more credit extended. Unpaid medical bills will be less significant...Show More Summary

Senators Push For Investigation of USA Discounters’ ‘Aggressive’ Tactics

3 weeks agoNews : Truthdig

By Paul Kiel, ProPublica The Defense Department and Consumer Financial Protection Bureau are urged to see whether service members are able to defend themselves against lawsuits while on active duty.

Young Money

Consumers who sign up for overdraft protection are paying hefty penalties when they go over their limit for the smallest of purchases, according to a new report from the Consumer Financial Protection Bureau. In fact, most of the purchases...Show More Summary

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