FOR IMMEDIATE RELEASE: July 30, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU TAKES ACTION AGAINST MORTGAGE COMPANY FOR BLOCKING CONSUMERS’ ATTEMPTS TO SAVE THEIR HOMES Residential Credit Solutions to Pay $1.5 Million for Servicing Wrongs WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action against Residential Credit […]

The U.S. Bankruptcy Court for the middle District of Florida just came out with a new administrative order regarding Mediator certification for mortgage modification mediations. Click here to view the order: ao071515

American Banker: “Paymap Inc., a payment processor that is part of Western Union, and LoanCare, a mortgage servicer that serves as a subservicer for ServiceLink (which is majority-controlled by Fidelity National Financial), were cited by the CFPB for wrongfully promising “tens of thousands of dollars in interest savings” to consumers if they made more frequent […]

PhilosophTalk.org Mr. Snowden joined PHILOSOPHY TALKS from Moscow in front of a live audience at Stanford University to discuss the ETHICS OF WHISTLEBLOWING “You might think we each have a moral duty to expose any serious misconduct, dishonesty, or illegal activity we discover in an organization, especially when such conduct directly threatens the public interest. […]

Money Talks News: “According to Federal Student Aid, an office of the U.S. Department of Education, there are certain circumstances that could qualify a student for federal student loan forgiveness, including employment in specific jobs, disability or the closure of a student’s school.” Read More

FOR IMMEDIATE RELEASE: July 23, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU TAKES ACTION AGAINST STUDENT FINANCIAL AID SERVICES, INC. FOR ILLEGAL RECURRING BILLING SCHEME Company to Pay $5.2 Million for Illegally Billing Over 100,000 Consumers WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau filed a complaint and proposed […]

CFPB May 14, 2015: STUDENT LOAN SERVICING BY THE NUMBERS • Over $1.2 trillion: The total volume of outstanding student loan debt • More than 40 million: The number of borrowers with student loan debt • $29,384: The average balance of a borrower graduating from college with a bachelor’s degree • 10 million: The number […]

CFPB Oct. 28 2014: “The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting illegal actions uncovered by the Bureau’s supervision of the student loan servicing market. Bureau examiners found that companies engaged in illegal practices like charging unfair late fees and harassing debt collection calls. Bureau examiners also found that some mortgage servicers […]

FOR IMMEDIATE RELEASE: July 22, 2015CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU ORDERS DISCOVER BANK TO PAY $18.5 MILLION FOR ILLEGAL STUDENT LOAN SERVICING PRACTICES Discover’s Illegal Servicing Practices Affected Private Student Loan Borrowers Transferred from Citibank   WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) took action against Discover […]

“The Consumer Financial Protection Bureau is engaged in a joint effort with the U.S. Department of Education and the U.S. Department of the Treasury to identify initiatives to strengthen student loan servicing. This request seeks comments related to the critical role that servicing plays in facilitating repayment of student loans, in order to improve customer […]