CFPB Fights Back on Mandatory Arbitration

The Consumer Financial Protection Bureau was established after the financial crisis of 2007-2008 in order to help consumers protect themselves against the actions of powerful financial institutions and credit providers. Since that time, banks, lenders and credit card companies have banded together in an effort to protect their own business interests by requiring aggrieved consumers […]

New Agreement Could Help Raise Credit Scores

Two years ago, attorneys general from 31 states formed a coalition to conduct investigations against the three largest credit-reporting agencies for engaging in unethical and reckless business practices. These investigations arose from nearly 30,000 complaints filed with the Federal Trade Commission, and the reporting agencies apparently lacked the willingness or ability to handle these complaints […]

Consumer Bankruptcy Filings Up in May 2017

If you are one of the millions of Americans struggling with overwhelming debt, you may have considered your options for relief. If one of those options was filing for bankruptcy, then you may have contributed to the slight increase in consumer bankruptcy filings that occurred in May of 2017. Data obtained by Epiq Systems, Inc., […]

Important Items to Understand About Debt Collectors

If you have fallen behind on your credit card payments and other lines of credit, you have likely received calls from debt collectors looking to recover the money you owe. Along with the stress of overwhelming debt, dealing with collection agencies can be frustrating and downright intimidating. However, as a consumer, you have rights, and […]

Americans Racking up More Credit Card Debt

If you carry significant balances on your credit cards, you are not alone. A recent report from the financial website WalletHub claims that the average American family now has well over $8,000 in credit card debt. Combined, Americans owe over $1 trillion dollars to credit card companies, which is an amount greater than the gross […]

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