Debt Relief Compliance Attorney
Debt Relief Watch April 12, 2016
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The Consumer Financial Protection Bureau has reinstated the requirement for credit card issuers to register their card agreements following a one-year suspension on the requirement that came to an end on April 1. In April 2015, the quarterly submission was suspended as the CFBP worked on streamlining a database of the agreements. The deadline for […]

Debt Relief Watch April 12, 2016
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Out of the $1.3 trillion student loan market, private student loans only make up a small portion of the industry. However, a news analysis by NerdWallet indicated that more private student loan borrowers expressed dissatisfaction with their lenders than any other student loan lender. In 2011, the CFPB set up a system to address such […]

Debt Relief Watch March 31, 2016
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The Consumer Financial Protection Bureau’s (“CFPB”) latest consumer complaint “snapshot” has been released. Among a long slew of complaints, the most popular debt collection complaint was the companies’ attempts to seek relief on debt that was not owed; these made up 38% of the 219,200 complaints received by the CFPB in 2015. Other debt collection […]

Debt Relief Watch March 30, 2016
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Relief may be on the way for those individuals who have been burdened by debt as a result of payday loans. In January, the Consumer Financial Protection Bureau (“CFPB”) announced that it would be implementing new regulations to eliminate abuses such as high fees and charges that pose a challenge to consumers in the payday […]

Debt Relief Watch March 30, 2016
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The Consumer Financial Protection Bureau recently ordered Student Aid Institute (“Student Aid”) to halt all debt relief operations and void all existing contracts. Student Aid misrepresented itself as a debt relief organization and duped thousands of individuals into believing that it was affiliated with the Department of Education. Furthermore, the company, as well as its […]

Debt Relief Watch March 24, 2016
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The lawsuit battle between the Consumer Financial Protection (“CFPB”) and Morgan Drexen, in effect since July 2013, has finally ended with the company filing bankruptcy. An enforcement action filed by the Consumer Financial Protection Bureau in August 2013 against Morgan Drexen, Inc. and its CEO has found the company to be in violation of the […]

Debt Relief Watch March 14, 2016
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Dwolla, Inc. (“Dwolla”) is the first company to receive a Consent Order from the Consumer Financial Protection Bureau (“CFPB”) for flawed data security practices. The company operates as an online money transfer platform and was found to be in violation of the Consumer Protection Act, prohibiting unfair, deceptive or abusive acts concerning a consumer financial […]