You may have heard of virtual currencies like Bitcoin, XRP, and Dogecoin. But what are virtual currencies? What does this “flying to the moon” mean? What about business on the Internet? What risks should you be aware of as a consumer? While virtual currencies offer the potential for innovation, many big questions remain unanswered, some …
More than three-quarters of U.S. adults have used a payment app, sometimes called a P2P (peer-to-peer or person-to-person) app. Widely used non-bank payment apps include PayPal, Venmo and Cash App. These apps can be used on a computer or mobile device to send money to someone without writing a check or handing over cash. Younger …
Today, we took action to stop two student loan debt relief scams that illegally pressured borrowers to prepay federal loan benefits. In a joint lawsuit with the Florida Attorney General, we shut down a student loan debt relief company called College Tuition Services and separately sued StudentLoanProcessing.US for operating an illegal debt relief service. We …
More than three-quarters of adults nationwide have used a payment app, sometimes called a P2P (person-to-person transaction) app. Some of the most commonly used non-bank apps are PayPal, Venmo, and Cash App. These apps can be used on a computer or mobile device to send money to someone without having to write a check or …
Like many younger people, older Americans are increasingly being garnished with debt collection. More than a third of complaints filed by older consumers are related to debt collection. In some of these complaints, consumers told us that debt collectors threatened to garnish their Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and veterans’ benefits, …
Receiving a notice from your insurance company that your policy is being cancelled can make you feel like your largest investment is at risk. An unexpected increase in insurance costs can affect your personal budget. And difficulty finding the right amount and type of coverage can make your home difficult to sell. Changes in the …
A cancellation notice from your insurance company can make it feel like your largest investment is at risk. An unexpected increase in insurance costs can put a strain on your budget. Struggling to get the right amount and type of insurance can make your home harder to sell. Changes in the insurance industry across the …
You may see photos of young retirees on the golf course or enjoying recreational activities in reverse mortgage ads. A reverse mortgage is a special type of loan that allows homeowners age 62 and older to borrow against the accumulated equity in their home. The loan must be repaid when the borrower dies, moves, or …
People who are working hard to improve their credit can feel trapped. Some companies take advantage of this stressful situation by selling consumers the promise of credit repair services. However, these services charge a fee and do not deliver on those promises. The CFPB sued companies operating under the names Lexington Law and CreditRepair.com. Both …
People who are struggling to improve their credit may feel helpless. Some companies take advantage of this stressful situation and defraud consumers by promising credit repair services. However, these services often charge a fee and don’t deliver on their promises. The CFPB sued companies doing business as Lexington Law and CreditRepair.com. The two companies were …