[nascarnation]

Cordray is Squaw Warren’s boy, isn’t he?

[kaehurowing]

The have created a nightmare with the new disclosure forms lenders have to comply with. Yet if you mess it up, you can be hit with a $1 million fine per violation.

[ConservativeMind]

Eliminate the CFPB.

[MUDDOG]

focus our resources wherever their complaints led us” is how Sen. Elizabeth Warren described it

I have a complaint against Elizabeth Warren.

[\/\/ayne]

A mortgage service company once tried to steal my land by pretending I didn't make a payment which I did make and then charging extra fees but thanks to folks like Mortgage Servicing Fraud and Consumer Affairs I was well informed.

I sent return receipt requested proof of payment letters to the mortgage servicing company, then I filed complaints with proof of payment with State Attorney General and Consumer Finance Protection Bureau. I wrote my (D) Congressman, too and his staff sent a scathing letter to the MS company signed by him. I never answered calls from their "bill collector," adding him as contact "Evil" on my phone. I knew from my research his only purpose was to confuse the issue. When I called they would promise to straighten it all out but all they were really doing was delaying until they could process the foreclosure.

All that hit the company at once and they decided it was more trouble than it was worth and straightened it all out after only 3 or 4 corrections on my part.

So for what's it's worth Consumer Finance Protection Bureau did register a complaint and send an inquiry on the mortgage servicer fraud with no problem. However, they did not have to take it very far in my case. According to my research there are a lot of mortgage servicers stealing land and committing fraud; it's a huge criminal enterprise.

[unlearner]

“So many of the people making the decisions do not ever need a payday loan and don’t understand that you work out the percentage interest rate and isn’t it terrible that you paid $50 to borrow $400? “

No, it would not. I have never used a payday loan, but it appears that they more typically would have a customer pay $400-500 for that $400 loan for using the money for only a month. That’s over 1000% APR. It is ridiculous and should be illegal.

[grumpygresh]

Pay day loans, pipe shops and small time firearm sellers are relatively easy targets for the totalitarians because they don’t have political clout and don’t get a lot of popular sympathy. But this is a beta test and I’m sure this will metastasize to other small businesses. A “consumer” could tie up a politically incorrect business or business owner with bogus and unfounded complaints. Even if a complaint is seemingly legitimate the punishment for a business is extreme. Not being able to have a business bank account would kill any legal business.
It doesn’t matter if business owners are exonerated; the process is the punishment.

[upchuck]

Another worthless government agency for Ted Cruz to shut down in Jan 2017.