Enormous numbers may still complain about PPI, says ombudsman
Caroline Wayman, the chief financial ombudsman, said that the numbers of people who could still come forward to complain about PPI is “pretty enormous”. It's estimated by the Financial Conduct Authority (FCA) that 45m PPI policies were sold between ...
Here Are the Payday Lenders With the Most Consumer Complaints
Payday loans are a notorious debt trap. They often prey on consumers who are vulnerable and desperate, then send them into a downward spiral of debt. Here are the issues customers complain about most, along with the five worst offenders.
Banks Can't Wait to Wipe This Complaints Database
Consumers complaints have formed the basis for several investigations. Rohit Chopra, formerly the nation's top student loan official while a regulator at the consumer bureau, said complaints filed with his agency led to a 2014 agreement between the U.S ...
Consumer Financial Protection Bureau's Monthly Complaint Report Focuses on Mortgages
CFPB: Debt Collection Tops Consumer Complaints for December
The Watchdog Protecting Consumers May Be Too Effective
CFPB Monthly Report Spotlights Mortgage Products
Student loans showed the greatest increase in complaints comparing October -December 2015 with October-December 2016, showing a 109% increase. In February 2016, the CFPB updated its student loan intake form to accept complaints about federal ...
Brazil launches WTO complaint against Canada over Bombardier aid
The government of Brazil on Wednesday launched a formal complaint against Canada over aerospace sector subsidies, just a day after the Canadian government said it would make interest-free loans of $372.5 million to Bombardier. "In Brazil's ...
Pensioner faced living on $25 a week after guaranteeing son's loan
Complaints schemes like FSCL and the Banking Ombudsman give consumers a chance to have their grievances heard without the time and expense of going to court, though that also means lenders can avoid the penalties they may face in a court of law.
Mortgage servicing featured in bureau complaint tally
The bureau also cites complaints that “their servicers had lost their timely payments and proceeded to report their loan account negatively to credit reporting companies.” But how can the CFPB determine whether a servicer actually misplaced a payment ...
Left out in the cold over housebuilder's reservation fee
The Department for Communities and Local Government confirms that housebuilders who sign up to the Help to Buy Equity Loan scheme agree to “follow the Consumer Code for Home Builders”. This aims to ensure that new home buyers are treated fairly.
Mortgage Servicing: Top Complaints Include Misapplied Escrow Funds, Resolving Payment Issues
Issues with servicers when trying to resolve loan problems: A frequent mortgage-related complaint from consumers had to do with problems dealing with their servicer when trying to negotiate foreclosure-relief assistance on their loans. Consumers stated ...