An Ohio-based auto lender that has already been penalized for $3.28 million for using aggressive debt collection tactics against members of the armed forces is once again in hot water with the Consumer Financial Protection Bureau for failing to issue refunds to the servicemembers that were harassed. [More]
Not Following the Rules
Auto Lender Fined Another $1.25M For Failing To Issue Refunds To Servicemembers Threatened By Debt Collectors
By 4.26.17 — Updated: 5.9.17
Consumer Advocates Sue Government Over Long Wait For New Automobile Safety Features
By 11.30.16
Earlier this year, federal vehicle safety regulators reached a voluntary agreement with nearly two dozen car manufacturers to make forward-collision warning and automatic emergency braking features standard in their cars starting in 2022. But some consumer safety advocates believe this is too long a wake and have gone to court in the hope of pressing the National Highway Traffic Safety Administration into taking more immediate action. [More]
Federal Inquiry Probes TCF Bank’s Overdraft Practices
By 11.6.15
Overdraft fees cost consumers an average of $32 billion each year. The hefty fees and their often less-than-transparent policies, which vary greatly between banks and financial products, have long garnered the ire of consumer advocates and federal regulators. Case in point: a Minnesota-based bank is now under investigation for possibly unfair and deceptive practices related to its overdraft program. [More]
Medical Debt Collector Must Pay Consumers $5.4M For Improperly Handling Disputes
By 6.18.15
What happens when you combine expensive — and often unanticipated — medical bills and overzealous debt collectors? An environment ripe for abusive, unfair collection practices. At least that appears to be the case for an operation that must pay $5.4 million in relief to consumers for allegedly mishandling credit reporting disputes and preventing individuals from exercising their debt collection rights. [More]
CFPB Fines Alabama Real Estate Firm $500,000 For Disclosure Violation
By 5.28.14
Purchasing everything you need for your home at one store can be convenient – it’s one of the reasons we have one-stop-shops. But when a realty firm doesn’t tell consumers they don’t have to use an affiliated mortgage service provider, well, that’s against the law. And as one company can attest it comes with a hefty fine. [More]
