Moderators Gregory Matthews Posted November 18, 2015 Moderators Posted November 18, 2015 The August 24, 2015 issue of TIME has an article beginning on page 42 that should be of interest to everyone here in CA. It was written by Massimo Calabresi and is entitled: "The Agency That's Got Your Back." The Consumer Financial Protection Bureau (CFPB) is probably one of the more powerful agencies in Washington. It's purpose is to provide the ordinary person with protection from illegal practices that involve any kind of a financial transaction. This can include mortgage loans and credit card practices. It has the authority to level fines and to order changes in practices. By the end of 2012, had ordered Capital One to pay a total of $537 million in fines and refunds for deceptive credit card practices. U.S. Bank has paid a total of $48 million in fines for charging customers for identity protection services that they never received. They have a website that makes it very easy to file a complaint. File one if you believe that you have been wronged. Naomi 1 Quote Gregory
Moderators Gregory Matthews Posted December 28, 2015 Author Moderators Posted December 28, 2015 WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed consent order in federal court that would resolve a lawsuit against Frederick J. Hanna & Associates, a Georgia-based law firm, and its three principal partners, for operating an illegal debt collection lawsuit mill. The CFPB lawsuit had alleged that the defendants rely on deceptive court filings and faulty evidence to churn out lawsuits. The order, if approved by the court, would bar the firm and its principal partners from illegal debt-collection practices, including filing lawsuits without being able to verify the consumers’ debt is owed, and intimidating consumers with deceptive court filings. The order would also require the firm and its principals to pay $3.1 million to the Bureau’s Civil Penalty Fund. “The Hanna firm relied on deception and faulty evidence to coerce consumers into paying debts that often could not be verified or may not be owed,” said CFPB Director Richard Cordray. “Debt collectors that use the court system for purposes of intimidation should reconsider how their practices are harming consumers.” The proposed consent order filed today can be found at: http://files.consumerfinance.gov/f/201512_cfpb_proposed-stipulated-final-judgment-and-order-hanna-frederick-j-hanna.pdf The CFPB’s complaint in the lawsuit can be found at: http://files.consumerfinance.gov/f/201407_cfpb_complaint_hanna.pdf The court’s July 2015 ruling can be found at: http://files.consumerfinance.gov/f/201512_cfpb_order-frederick-j-hanna.pdf Quote Gregory
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