One of the nation's largest debt collectors violated a 2015 order.
The Consumer Financial Protection Bureau (CFPB) has been casting a wary eye on all kinds of add-on fees lately. The latest are the “pay-to-pay” fees often charged by debt collectors. The debt collectors like to call them “convenience fees” but the CFPB calls them “junk fees.” Whatever you call them,
Bank of America has been ordered to pay a $10 million penalty and make refunds to customers who were hit by illegal garnishments and the fees it charged for those illegal actions. “Bank of America imposed unlawful garnishment fees and injured its customers by inserting unenforceable clauses into contracts in
The American healthcare and credit reporting systems work in tandem to “coerce and extort patients into paying medical bills they may not even owe,” a new report from the U.S. Consumer Financial Protection Bureau (CFPB) finds. “When it comes to medical bills, Americans are often caught in a doom
Everyone knows that using credit to make purchases is handy but can also be expensive and risky to your financial well-being. Using cash is sometimes better but can deplete your cash supply. That’s where something called “Buy Now, Pay Later” comes in. It’s not exactly a new idea,
There’s a lot of public angst about student loan debt. Now you can add unpaid medical bills, which are about twice as high as previously thought, with an estimated 18 percent of Americans in default on at least some of their medical debt. The student debt burden now stands
While 2020 didn’t have many high points, there’s at least one thing for consumers to celebrate – a new initiative aimed at protecting consumers from fraudulent and harassing debt collectors. The Federal Trade Commission announced Operation Corrupt Collector (OCC), in September, a crackdown involving three other federal agencies and