On Jan. 3, the the Consumer Financial Protection Bureau (CFPB) took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The companies also lured consumers into costly recurring payments for credit-related products with false promises. The CFPB ordered TransUnion and Equifax […]

Today, the Consumer Financial Protection Bureau (CFPB) released a report raising new concerns about costly fees and risky features often related to certain college-sponsored accounts. The Bureau’s analysis of roughly 500 marketing deals between these schools and large banks found that many deals allow for risky features that can lead students to rack up hundreds […]

On October 28, the Department of Education issued final regulations intended to protect student loan borrowers against school closures and fraud.  To that end, the rules include significant provisions restricting school arbitration agreements; clarifying student rights to raise school fraud as a defense to loan repayment; providing automatic closed school loan discharges to certain eligible […]

Of the many types of fraud in the United States, advance fee schemes are among the most devious and frustrating for authorities. This is because these scams, where someone asks for money upfront with the promise of a big payoff later, are only limited by the imagination of the person committing the fraud. Some variations […]