CFPB: Student Loan Servicing Problems Can Jeopardize Long-Term Financial Security for Older Borrowers
Growing Concerns as Number of Older Student Loan Borrowers Quadruples, Amount of Debt Per Senior Borrower Doubles in Last Decade WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a report that examines complaints from older student loan borrowers about servicing practices that can jeopardize their long-term financial security. In the last decade, the…
HUD: HUD, DOE and Nonprofit Partners Launch Book-Rich Environments Initiative
WASHINGTON – In an effort to promote literacy and boost educational outcomes for kids in public housing across the country, the U.S. Departments of Housing and Urban Development (HUD) and Education (ED) are joining forces with the Campaign for Grade-Level Reading (GLR), the National Book Foundation (NBF) and the Urban Libraries Council (ULC) to launch…
ABA: Registration Open for ABA Foundation’s 2017 Financial Education Initiatives
ABA Foundation calls for banker volunteers to increase financial capability in local communities WASHINGTON — The American Bankers Association Foundation is calling for banker volunteers to register for Teach Children to Save and other 2017 financial education initiatives. Celebrating its 20th anniversary, the Teach Children to Save program is a national campaign that encourages banker volunteers to visit schools…
CFPB: Understanding Why Offers For “Your” Credit Score Are Not All The Same
Today, TransUnion and Equifax have agreed to change practices that the Bureau found misled consumers about the value of the credit scores they marketed and sold. In their advertising, TransUnion and Equifax misrepresented that the credit scores they marketed and provided to consumers were the same scores that lenders typically use to make credit decisions…
CFPB: TransUnion and Equinox Ordered to Pay for Deceiving Consumers in Marketing Credit Scores and Credit Products
Credit Reporting Companies Misstated the Cost and Usefulness of the Credit Scores and Products They Sold, Lured Consumers into Costly Recurring Payments WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to…
Federal Reserve: Payments Study Highlights Strong Trends in Card Use
Kansas City, Missouri, December 22, 2016 — From 2012 to 2015, credit and debit (including prepaid and non-prepaid) card payments continued to gain ground in the payments landscape, accounting for more than two-thirds of all core noncash payments in the United States, according to a Federal Reserve study of U.S. non-cash payments released today. Automated…