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CFPB Survey Reveals Impacts of Student Loan Debt Relief and Repayment Challenges
Debt relief recipients report being able to make beneficial changes in their lives; many borrowers still unaware of repayment optionsWASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) issued its first results from its Student Loan Borrower Survey, providing insights into the effects of student loan debt relief programs and the challenges borrowers face in navigating repayment options. The survey, con ... View Full Article
CFPB Orders Navy Federal Credit Union to Pay More Than $95 Million for Illegal Surprise Overdraft Fees
Agency bans nation’s largest credit union from charging certain overdraft fees going forwardWASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action against Navy Federal Credit Union for charging illegal overdraft fees. From 2017 to 2022, Navy Federal charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases, even when thei ... View Full Article
CFPB Bans Navient from Federal Student Loan Servicing
Order would put an end to Navient’s years of abuse of students and taxpayers in the federal student loan programWASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) filed a proposed order against the student loan servicer Navient for its years of failures and lawbreaking. If entered by the court, the proposed order would permanently ban the company from servicing federal Direct Loans and ... View Full Article
CFPB Proposes to Ban Medical Bills from Credit Reports
Rule would remove as much as $49 billion of medical debts that unjustly lowers credit scores for 15 million AmericansWASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to co ... View Full Article
CFPB Report Finds Large Banks Charge Higher Credit Card Interest Rates than Small Banks and Credit Unions
Switching to a lower rate could save the average borrower hundreds of dollars per yearWASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today reported on the first set of results from the newly updated Terms of Credit Card Plans survey. The survey data reveal that large banks are offering worse credit card terms and interest rates than small banks an ... View Full Article