The federal Consumer Finance Protection Board was set up in 2011 to regulate the consumer finance area. As part of that duty, it allows Americans to submit complaints. Due to the Coronavirus/COVID-19 pandemic, it is seeing a record number of submitted complaints. The Hill reports: CFPB Director Kathy Kraninger told reporters during a Friday press...Read More

Experts are expecting a higher level of auto repossessions this fall. This is expected due to the tough financial times many consumers are experiencing and the lift of repo bans several states enacted earlier in the COVID-19 pandemic. Another repo almost turns violent in Idaho: On June 28, the repo man said he saw the...Read More

One of the nation’s largest banks and automobile credit lenders, Wells Fargo, has said it will stop providing loans to independent car dealers and car lots. If you buy a car from a dealer tied to a car company, typically financing can be obtained through that car company’s affiliated financing company. For instance, if you...Read More

A column in the LA Times reports that Macy’s has furloughed its dispute department. This suggests that any customer that sees inaccurate information from Macy’s on their credit report and tries to dispute it through Macy’s would find no one to answer the phone or process the dispute: Scott told me she had to make...Read More

A couple more articles have come out detailing some states’ plans to protect consumers’ FCRA rights since the coronavirus/COVID-19 pandemic started. The first is the story about several Attorneys General sending a letter to the CFPB regarding relaxing the FCRA obligations: First, the CFPB’s announcement it will not enforce the CARES Act’s requirements could discourage...Read More

Millions of Americans are receiving their stimulus checks from the federal government during this time. Many of these Americans have judgments against them or active garnishments from previous creditors or debt collectors. This causes a problem as to who is entitled to the funds — can the consumer keep them or does the debt collector...Read More

The recent Coronavirus pandemic has wrecked havoc on the economy and on the finances of many Americans. While the federal government has taken steps to help, as on now, there appear to be no breaks for credit reports and credit scores. As the Wall Street Journal reports: Legislation that would have prevented credit bureaus from...Read More