Consumer Law Professors Join Forces to Protect the Complaints Database

Professor Amy J. Schmitz joined forces with other consumer law experts Prof. Pamela Foohey of Indiana University Maurer School of Law and Prof. Angela Littwin of University of Texas School of Law to serve as the primary drafters of a response to the Consumer Financial Protection Bureau (CFPB)’s request for information regarding the CFPB’s reporting…

CONSUMER FINANCIAL PROTECTION BUREAU ISSUES REQUEST FOR INFORMATION ON CONSUMER COMPLAINT REPORTING

This is from the cfpb press release: “WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) about the Bureau’s public reporting of consumer complaints. The Bureau is seeking comments and information from interested parties on the usefulness of complaint reporting and analysis, as well as specific suggestions or…

Calling for Consumer Protection

In a time when we need consumer protection, the U.S. Consumer Financial Protection Bureau (CFPB) has unfortunately decided to pull back its activities and seek to promote a free market for financial services, according to a new article by Reuters today. The CFPB will release a new strategic plan this week that will detail changes…

CFPB is Fighting the Good Fight

The Consumer Financial Protection Bureau (CFPB) today announced that its recent work resulted in $14 million in relief to more than 104,000 harmed consumers from January through June 2017. The Press release read in part: “Today’s report, the 16th edition of Supervisory Highlights, covers CFPB supervision activities from January through June 2017, and shares observations…

CFPB ORDERS TRANSUNION AND EQUIFAX TO PAY $23.1 MILLION FOR DECEIVING CONSUMERS

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…

CFPB warnings regarding college-sponsored accounts

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…