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Published Category: Policy & Compliance

We’re suing a robo-call debt collector

Today we’re announcing that we filed a lawsuit against a robo-call debt collection operation, including its ringleaders, their companies, and service providers. The debt collectors allegedly sent millions of robo-calls to threaten, harass, and deceive consumers to collect debt that consumers do not owe, or were not owed to the debt collectors themselves. The complaint alleges that the scheme depended on the participation of the telemarketing company that sent the robo-calls and the payment processors that allowed the collectors to access consumers’ bank accounts.

Working together to protect student veterans

We’re joining the Departments of Veterans Affairs (VA), Defense (DoD), and Education (ED) to better protect servicemembers, veterans, and their family members who are attending college. We’ve signed an agreement to carry out a comprehensive strategy to strengthen our enforcement and compliance work.

Published Category: Policy & Compliance

Closing the book on Colfax

We announced an enforcement action against Colfax Capital Corporation and its subsidiary Culver Capital, LLC for engaging in unlawful lending practices that targeted and financially harmed servicemembers. Although the name might be new to some, this is actually the last gasp of a chameleon-like company with a long and deplorable record of preying on servicemembers.

Consumer advisory: Don’t fall for a foreclosure relief scam or bogus legal help

Along with other cases from federal and state partners, today we charged that mortgage rescue scammers have taken $25 million in illegal advance fees from consumers. It serves as a reminder of how important it is to watch out for scam artists trying to take advantage of people who need help avoiding foreclosure. Read more to learn how to protect yourself from these scams.

What sunshine for student financial products can show us

Some of these agreements were difficult to find, but here are a few examples of the different agreements financial institutions have with colleges and universities. We didn’t verify whether these agreements are current, but the examples give us a sense of how some of these agreements work.

Published Category: Info for consumers

What’s the deal with health care credit cards? Four things you should know

Recently, many patients facing medical procedures have seen their health care providers suggest deferred interest rate credit cards as a payment option. Unfortunately, health care providers don’t always explain how these deferred interest credit cards work. We want to make sure that you get the facts you need.