Search results for: Fake account fiasco

photographynatalia

Lawmakers Who Want To Hand ‘Get Out Of Jail Free’ Card To Banks Made Millions From Financial Sector Last Year

As expected, Republican lawmakers in both the House and Senate have introduced legislation that would overturn new rules intended to make sure that bank and credit card customers aren’t stripped of their right to file lawsuits in a court of law. Not surprisingly, many of the politicians pushing this pro-bank bill recently received significant financial support from the financial sector. [More]

inajeep

GOP Moving Forward With Plan To Block New Legal Protections For Bank, Credit Card Customers

The Consumer Financial Protection Bureau recently finalized new rules that prevent banks and other financial institutions from stripping customers of their constitutional right to a day in court. As expected, bank-backed lawmakers in both the House and Senate are now planning to pass fast-track legislation that would undo these protections and make sure banks retain their “get out of jail free” card. [More]

Joe Gratz

CFPB’s Finalized Arbitration Rule Takes Away Banks’ ‘Get Out Of Jail Free Card’

Roughly 240 days from now, banks and other financial companies will no longer be allowed to prohibit customers from banding together in class-action lawsuits through the use of binding arbitration clauses, as the Consumer Financial Protection Bureau today released a long-awaited finalized rule on arbitration.  [More]

Adam Fagen

Complaints About Student Loan Servicing Increased 429% In Past Year

In the past year, federal regulators and consumer advocates have highlighted issues with student loans and the servicing of these often crippling debts: from finding that educational loans continue to haunt older borrowers, to suing Navient, the largest student loan servicing company. Because of this, it might not come as much of a surprise that the number of complaints the Consumer Financial Protection Bureau received related to student loans has skyrocketed.  [More]