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Consumer Financial Protection Bureau

CFPB Considers Suing Student Loan Giant Navient For Cheating Borrowers

The Huffington Post | Shahien Nasiripour | Posted 08.25.2015 | Politics

Federal regulators are considering suing Navient Corp., the nation's largest student loan company, for allegedly cheating borrowers, the company said...

New Project Seeks To Unmask Shadowy Payday Lenders

The Huffington Post | Christina Wilkie | Posted 08.05.2015 | Politics

WASHINGTON -- A new project seeking to expose some of the most secretive special interests in American politics launched on Wednesday. Its first targe...

Payday Lender Sued For Allegedly Threatening Consumers

The Huffington Post | Jacob Kerr | Posted 08.04.2015 | Business

The Consumer Financial Protection Bureau filed a lawsuit against an offshore payday lender on Tuesday. The bureau alleges that NDG Enterprise il...

U.S. Government Acquires FAFSA Website That Was Confusing Students (UPDATE)

The Huffington Post | Alexander Howard | Posted 07.24.2015 | Technology

The federal government has been taking down websites that host illegal activity for years, but in taking over a website -- specifi...

CFPB Should Shine a Light on Predatory Online Lenders

Brayden McCarthy | Posted 07.22.2015 | DC
Brayden McCarthy

The price of light is still less than the cost of darkness. The same is true in online lending. Let's not forget that when advocating for 1071 implementation.

Ben Walsh

Citibank Forced To Pay $700 Million To Customers

HuffingtonPost.com | Ben Walsh | Posted 07.21.2015 | Business

Citibank will be required to pay $700 million to 8.8 million customers for illegal credit card practices, the Consumer Financial Protection Bureau sai...

How This Startup Is Channeling Elizabeth Warren To Change The Face Of Banking

The Huffington Post | Christina Wilkie | Posted 07.17.2015 | Business

WASHINGTON -- Andrei Cherny knows how ugly the financial industry can be. He's a former financial fraud prosecutor and an expert in financial re...

Shahien Nasiripour

Troops Can't Trust Student Loan Servicers, Top Regulator Says

HuffingtonPost.com | Shahien Nasiripour | Posted 07.08.2015 | Politics

U.S. troops can’t rely on student loan companies, including those working for the Department of Education, to give them accurate information about l...

Immediate Costs of Predatory Financial Practices Are Steep, But They Are Just the Tip of the Iceberg

Michael Calhoun | Posted 07.02.2015 | Politics
Michael Calhoun

As the 2016 presidential campaign kicks off, the economy is growing and Americans are getting back to work. However, for far too many people plotting a course from the working class to the middle class requires navigating dangerous waters filled with financial icebergs.

Shahien Nasiripour

Fresh Out Of Government, Student Loan Warrior Warns About Major For-Profit College Chain

HuffingtonPost.com | Shahien Nasiripour | Posted 06.24.2015 | Politics

The revolving door between federal financial regulators and the industries they oversee doesn't usually spin in the direction of aiding low-income col...

Private Student Loans Are Trapping Co-Signers, CFPB Finds

The Huffington Post | Tyler Kingkade | Posted 06.18.2015 | College

Nine-in-ten borrowers who applied for co-signer release on their private student loans were rejected, a new Consumer Financial Protection Bureau repor...

Ben Walsh

Elizabeth Warren Has A New 'Sheriff Of Wall Street' In Mind

HuffingtonPost.com | Ben Walsh | Posted 06.18.2015 | Politics

Sen. Elizabeth Warren (D-Mass.) is privately urging New York Gov. Andrew Cuomo (D) to replace the head of the New York Department of Financial Service...

Reverse Mortgages: An Understanding Of The Risks

Andrew Lieb | Posted 06.18.2015 | Business
Andrew Lieb

This month, the Consumer Financial Protection Bureau (CFPB) published the article A closer look at reverse mortgage advertisements and consumer risks, which examines its study of advertisements for this product to older homeowners.

6 Undeniable Benefits Of A Reverse Mortgage

Michael Lazar | Posted 06.11.2015 | Fifty
Michael Lazar

A reverse mortgage is a feasible financial vehicle that is used by plenty of older Americans to access cash from their home's equity. We'll outline six undeniable benefits these home loans offer.

The CFPB & Prepaid Industry Face-Off

CompareCards | Posted 05.29.2015 | Money
CompareCards

The Consumer Financial Protection Bureau (CFPB) is a relatively new federal agency that was born in a swirl of political controversy, thanks to harsh opposition from many members of the financial industry and the lawmakers who strive to protect their interests.

Shahien Nasiripour

Consumer Agency Begins Probe Of Student Loan Servicers, Signaling Stronger Rules

HuffingtonPost.com | Shahien Nasiripour | Posted 05.14.2015 | Politics

The Consumer Financial Protection Bureau on Thursday launched a broad review of the often murky business of student loan servicing, questioning whethe...

Shahien Nasiripour

Obama Administration Considers New 'Roadblocks' For Ex-Corinthian Colleges Students Seeking Debt Relief

HuffingtonPost.com | Shahien Nasiripour | Posted 04.30.2015 | Politics

The U.S. Department of Education is considering new hurdles for student loan borrowers seeking to get out of their debts by claiming their schools swi...

Shahien Nasiripour

Education Department Steers Corinthian Colleges Students To Other Troubled For-Profits

HuffingtonPost.com | Shahien Nasiripour | Posted 04.29.2015 | Politics

The U.S. Department of Education is telling thousands of students from now-shuttered for-profit schools owned by Corinthian Colleges Inc. to consider ...

Shahien Nasiripour

Troubled For-Profit Corinthian Colleges Shutting Down As Education Department Faces Bill

HuffingtonPost.com | Shahien Nasiripour | Posted 04.27.2015 | Politics

Corinthian Colleges Inc., once one of the nation's largest chains of for-profit colleges, announced Sunday it is abruptly shutting down after failing ...

U.S. Foreclosures Rise

Jorge Newbery | Posted 06.22.2015 | Business
Jorge Newbery

Lenders started foreclosure against 53,514 homeowners in March, according to RealtyTrac, an increase of 11 percent from February. That brought to 152,147 the number of US homes that started down the bumpy road to foreclosure in the first quarter of 2015.

Shahien Nasiripour

Heald College Fined For Misleading Students About Job Prospects

HuffingtonPost.com | Shahien Nasiripour | Posted 04.15.2015 | Politics

Heald College, the jewel of a once-thriving chain of for-profit colleges owned by Corinthian Colleges Inc., misled students and accreditation agencies...

Mortgage Referral Fees and the Public Interest: 40 Years of Bungles

Jack M. Guttentag | Posted 06.08.2015 | Business
Jack M. Guttentag

Markets don't work well when one party to transactions has much more information than the other party, especially when the party with better information also controls the process. The two best illustrations of this rule are the markets for medical services and home mortgages.

Student Loan Victims Pay the Price of ED Inaction

Eileen Connor | Posted 06.02.2015 | College
Eileen Connor

If legal remedies for borrowers, such as defense to repayment, exist only on paper, they are not worth very much. Meeting with Corinthian borrowers is the first step in the Department's necessary recognition that it needs to be more proactive and protective when it comes to student borrowers.

Ben Walsh

Consumer Financial Protection Bureau Proposes New Payday Lending Rules

HuffingtonPost.com | Ben Walsh | Posted 03.26.2015 | Business

The Consumer Finance Protection Bureau will consider new rules covering payday loans, agency head Richard Cordray said Thursday in a statement. The pr...

Zach Carter

Senate Republicans Attack Obama's Most Popular Achievement In Their First Budget Session

HuffingtonPost.com | Zach Carter | Posted 03.20.2015 | Politics

WASHINGTON -- In just their first legislative session since taking control of the Senate, Republicans on the Budget Committee pushed through a Wall St...