CreditCards.com

Tag Archives: consumer financial protection bureau

Consumer watchdogs shine spotlight on online lenders

Kelly Dilworth

As alternative lenders multiply online, state and federal regulators are starting to pay closer attention and are hinting that new rules could be on the way. The Consumer Financial Protection Bureau announced March 7 it’s now accepting complaints about online…
Read More

Payday lenders say proposed rules will shut them down

Fred Williams

Judi Strong used her own savings to start her small business in Lexington, Kentucky, 15 years ago. Now she says federal regulators are about to close her down.
At first it sounds like a horror story about big, callous government. But Strong doesn’t run a bakery or a corner store. She’s the owner of Cash in a Dash, a payday loan company with five offices in the Lexington area.
“I just feel like it’s a needed business,” Strong said in an interview. Many of her customers are regulars, she said, who use small loans to tide them over between paychecks the way other people use credit cards.
But her customers pay interest rates many times higher than credit cards, even the most expensive ones.
Read More »

Debt registry lets debtors check if a collector is legitimate

Fred Williams

Can a data warehouse help consumers check out debt collectors when they demand payment on an old bill? A new company is taking aim at one of the big problems with debt collection.
Read More »

Medical debt confounds even the experts

Fred Williams

Medical costs are so complicated, they sometimes even stump the experts. During a regulatory hearing last week, panelists shared their own headache-inducing run-ins with the way health services are billed and collected.
Read More »

Consumer protection bureau goes all Yelp

Fred Williams

Publishing complaints on the Web — as proposed by a federal regulator — will help consumers pick financial services more wisely. And it might even encourage companies to fix their problem areas.
Read More »