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Blog Posts tagged CFPB
The Consumer Financial Protection Bureau and its Consumer Complaint Database provide a good example of how a two-way flow of information can help make government more effective – and how it can benefit from modern online tools for sharing data.
The Consumer Financial Protection Bureau receives more complaints about debt collection than about any other topic. The complaints are submitted by consumers who reach out to the CFPB for help resolving problems with debt collectors and other problems in the financial marketplace.
The Consumer Financial Protection Bureau has helped consumers reclaim billions of dollars lost through unfair financial practices. As of the end of 2016, the CFPB had returned more than $11.8 billion to 29 million customers.
The tactics used by the debt collection are a growing source of consumer pain; they include incessant calling, threats of arrest, and damaged credit reports – while often targeting the wrong consumer, and often violating the law. To gain insight into the impact on consumers of medical debt collection, we turned to the consumer complaint database of the Consumer Financial Protection Bureau (CFPB) for our new report, Medical Debt Malpractice: Consumer Complaints About Medical Debt Collectors, and How the CFPB Can Help.
Banks play a crucial role in society: They keep our money safe and put it to work. But today, banks are making an increasing amount of money from the fees they collect from their customers. In Big Banks, Big Overdraft Fees, we found that large banks reported collecting $8.4 billion in overdraft fees in the first three quarters of 2016 – a 3.6% increase over the same period in 2015.