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http://www.consumerfinance.gov/the-bureau/

 

As we build an agency to ensure that consumers get the information they need to make the best financial decisions for themselves and their families, we need to hear from you. Before we begin carrying out Federal consumer financial laws, we want to know what you think. The Consumer Financial Protection Bureau exists to serve the American public, and Open for Suggestions is your opportunity to offer input.

 

You can leave your suggestion using any of the options above. In the coming days and weeks, staff from across the growing consumer bureau will record video responses to some of the most common ideas and comments we receive. We’ll post those responses right here.

 

Check back at this page often, and share it with friends. Even if you don’t have a suggestion just yet, be sure to follow us on Twitter, Facebook, or YouTube. While we will do our best to read and watch every suggestion, we won’t be able to respond to them all.

 

 

 

Seems they are also accepting applications -

 

one of the positions available;

 

Consumer complaints specialists and analysts

 

http://www.consumerfinance.gov/jobs/

 

Anyone out of work?

 

wonder what thier policy is on pulling a credit check ...LOL

 

 

 

 

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^^^ bumping for the morning crowd

 

this is the New Goverment Agency being started up by Elizabeth Warren.

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bumping for the sunday crowd. -

 

http://www.responsib...ion-agency.html

 

http://www.nclc.org/...ug-2010-web.pdf

 

 

This is the new agency that will have Rule making Authority over the FDCPA - which the FTC has never had.

 

the FTC could only enforce the FDCPA - but never make a new rule

 

 

Rule Writing Authority

 

The CFPB takes over rule writing authority for all the major consumer financial protection statutescalled the "enumerated statutes"including TILA and FCRA.

 

Dodd- Frank creates new rule writing authority for the Fair Debt Collection Practices Act and gives it to the CFPB.

 

The CFPB also has authority to write rules to prevent unfair, deceptive, or abusive acts or practices (UDAAP authority) in connection with a broad array of consumer financial products and services.

 

 

This new website is the place to make your stories over Bank Abuses, FCRA issues and FDCPA horror stories heard.

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do you all know how a new federal regulation is formulated?

 

there is a publication called the "Federal Register"

 

when an agency with " Rule Making Authority " decides that a new regulation is needed,

 

they have to post ( notice it ) it in the 'Federal Register'

 

to find and make comments on a proposed rule - http://www.regulations.gov/#!home

 

right now, you would look up the FTC.

 

Right now, the Holder in due course revised rule is on hold pending the CFPB authority transfer

 

Title: Preservation of Consumers' Claims and Defenses (Holder-in-Due Course Rule)

 

Abstract: Issued in 1975, the Holder-in-Due Course Rule requires sellers to insert language into consumer credit contracts that preserve any claims and defenses that consumers might have against the seller. The Commission promulgated the rule after concluding that the use of certain credit transactions to foreclose consumer claims and defenses arising from credit sale transactions was an unfair practice. This rule eliminated the holder-in-due course doctrine as a legal defense for separating the consumer's obligation to pay from the seller's duty to perform.

 

The Rule specifically requires sellers entering into "consumer credit contracts" or accepting the proceeds of "purchase money loans" to ensure that sales finance contracts and loan contracts contain one of two clauses that preserve the buyer's right to assert against any "holder" of the credit contract the sales-related claims and defenses that the buyer may have against the seller.

 

During 2010, the Commission had planned to request comments on the rule as part of the Commission's systematic review of all current Commission rules and guides.

 

However, that review has been put on hold pending consultation with the newly created Consumer Financial Protection Bureau within the Board of Governors of the Federal Reserve System by the enactment of the "Dodd-Frank Wall Street Reform and Consumer Protection Act," Public Law No. 111-203, on July 21, 2010.

 

 

or, you could find all the rules and comments for the FACTA

 

http://www.regulations.gov/public/custom/jsp/navigation/main.jsp

 

 

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I think the real question that remains to be seen is this: Will they actually have any teeth?

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I think the real question that remains to be seen is this: Will they actually have any teeth?

 

History:

 

Opened case with CFPB on 7/21 about a Chase CC Chargeoff for about 6K Chase would never work with me on payment or removing the CO. Just wanted payment in full. Its past the Texas SOL DOFD was 02/07 so it will remain on CR about another 3 years - This is my last baddie.

 

 

Got a call today from Chase Executive Customer Service stating that received the complaint and they are reviewing it. She will contact me in a couple of days.

 

I will update this thread with results.

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I think the real question that remains to be seen is this: Will they actually have any teeth?

 

History:

 

Opened case with CFPB on 7/21 about a Chase CC Chargeoff for about 6K Chase would never work with me on payment or removing the CO. Just wanted payment in full. Its past the Texas SOL DOFD was 02/07 so it will remain on CR about another 3 years - This is my last baddie.

 

 

Got a call today from Chase Executive Customer Service stating that received the complaint and they are reviewing it. She will contact me in a couple of days.

 

I will update this thread with results.

 

 

Well,

 

Just got off the phone with Chase ECS and they have a offer for me

 

History:

 

All three CRA's has this listed as Chargeoff for $6,322.

 

DOFD was 3/07

 

Texas SOL is 4 years so they cant sue - keep inhouse (never went to CA.

 

Offer:

 

50% in one lump sum payment ($3,162.00) and they will delete from all CRA's (will be in writing)

 

whatcha think?

 

Thanks!

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I think the real question that remains to be seen is this: Will they actually have any teeth?

 

History:

 

Opened case with CFPB on 7/21 about a Chase CC Chargeoff for about 6K Chase would never work with me on payment or removing the CO. Just wanted payment in full. Its past the Texas SOL DOFD was 02/07 so it will remain on CR about another 3 years - This is my last baddie.

 

 

Got a call today from Chase Executive Customer Service stating that received the complaint and they are reviewing it. She will contact me in a couple of days.

 

I will update this thread with results.

 

 

Well,

 

Just got off the phone with Chase ECS and they have a offer for me

 

History:

 

All three CRA's has this listed as Chargeoff for $6,322.

 

DOFD was 3/07

 

Texas SOL is 4 years so they cant sue - keep inhouse (never went to CA.

 

Offer:

 

50% in one lump sum payment ($3,162.00) and they will delete from all CRA's (will be in writing)

 

whatcha think?

 

Thanks!

 

 

Sorry TB50, I don't know if the deal is good or not, you might need a thread downstairs for max answers..

 

My only question is: Is this offer from Chase due to your CFPB complaint or from something else you did independently of the CFPB????? This is the question...

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I think the real question that remains to be seen is this: Will they actually have any teeth?

 

History:

 

Opened case with CFPB on 7/21 about a Chase CC Chargeoff for about 6K Chase would never work with me on payment or removing the CO. Just wanted payment in full. Its past the Texas SOL DOFD was 02/07 so it will remain on CR about another 3 years - This is my last baddie.

 

 

Got a call today from Chase Executive Customer Service stating that received the complaint and they are reviewing it. She will contact me in a couple of days.

 

I will update this thread with results.

 

 

Well,

 

Just got off the phone with Chase ECS and they have a offer for me

 

History:

 

All three CRA's has this listed as Chargeoff for $6,322.

 

DOFD was 3/07

 

Texas SOL is 4 years so they cant sue - keep inhouse (never went to CA.

 

Offer:

 

50% in one lump sum payment ($3,162.00) and they will delete from all CRA's (will be in writing)

 

whatcha think?

 

Thanks!

 

 

Sorry TB50, I don't know if the deal is good or not, you might need a thread downstairs for max answers..

 

My only question is: Is this offer from Chase due to your CFPB complaint or from something else you did independently of the CFPB????? This is the question...

 

Direct result of the CFPB complaint. Now thats not saying that I would have not gotten the same deal if I called the Chase ECS directly but I was getting nowhere with regular CS or their collections dept.

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TB50, what was the basis of your complaint?

 

 

Complaint was basically Chase would not tell me where the additional charges came from nor provide a list of charges, would not work with me on a payment plan , just wanted 100% of the total they said I owed, etc.

 

 

CFPB contacted Chase Executive Customer Service and within a week - we got the offier above. They gave me 3 options (payout on 60 payments for total amount - 2 payments 30 days apart for 65% of amount - 1 payment at 50% - all with PFD when paid. (after I requested it))

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TB50, what was the basis of your complaint?

 

 

Complaint was basically Chase would not tell me where the additional charges came from nor provide a list of charges, would not work with me on a payment plan , just wanted 100% of the total they said I owed, etc.

 

 

CFPB contacted Chase Executive Customer Service and within a week - we got the offier above. They gave me 3 options (payout on 60 payments for total amount - 2 payments 30 days apart for 65% of amount - 1 payment at 50% - all with PFD when paid. (after I requested it))

 

I'll guess that you were probably talking to a CA when you thought you were calling chase .

 

Cap one services just got hit with a FDCPA complaint because they automatically routed calls to NCO.

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I'll guess that you were probably talking to a CA when you thought you were calling chase .

 

Cap one services just got hit with a FDCPA complaint because they automatically routed calls to NCO.

 

No, I dont believe so. The account was in-house (sent to CA years before - I C&D them (before CB) and I believe Chase pulled it back. The numbers were always Chase and the letters I got when I did DV them where from Chase but had nothing but the total amount. The account is valid (old CC) - credit limit was 5K with about 1.3 K worth of overlimit, interest, and late fees so I'm fairly happy with a 3.1 K payoff with a delete vs another 3+ years on my credit report as a chargeoff.

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I'll guess that you were probably talking to a CA when you thought you were calling chase .

 

Cap one services just got hit with a FDCPA complaint because they automatically routed calls to NCO.

 

No, I dont believe so. The account was in-house (sent to CA years before - I C&D them (before CB) and I believe Chase pulled it back. The numbers were always Chase and the letters I got when I did DV them where from Chase but had nothing but the total amount. The account is valid (old CC) - credit limit was 5K with about 1.3 K worth of overlimit, interest, and late fees so I'm fairly happy with a 3.1 K payoff with a delete vs another 3+ years on my credit report as a chargeoff.

 

 

So TB50, you are saying that the CFPB complaint you made about Chase made them respond to you and offer you several "deals" as far as you can tell????

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just filed a complaint against springleaf for agreeing to delete the account after I paid and then only deleting on 2 of the 3 cra. we'll see what happens and update

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I'll guess that you were probably talking to a CA when you thought you were calling chase .

 

Cap one services just got hit with a FDCPA complaint because they automatically routed calls to NCO.

 

No, I dont believe so. The account was in-house (sent to CA years before - I C&D them (before CB) and I believe Chase pulled it back. The numbers were always Chase and the letters I got when I did DV them where from Chase but had nothing but the total amount. The account is valid (old CC) - credit limit was 5K with about 1.3 K worth of overlimit, interest, and late fees so I'm fairly happy with a 3.1 K payoff with a delete vs another 3+ years on my credit report as a chargeoff.

 

 

So TB50, you are saying that the CFPB complaint you made about Chase made them respond to you and offer you several "deals" as far as you can tell????

 

 

Yes, now maybe if I had contacted the Executive Customer Service dept directly I would have gotten the same offers but regular Chase Customer Service nor the collections department would budge off of PIF (one payment) and no PFD. At least CFPB got me in touch with the right folks.

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I'll guess that you were probably talking to a CA when you thought you were calling chase .

 

Cap one services just got hit with a FDCPA complaint because they automatically routed calls to NCO.

 

No, I dont believe so. The account was in-house (sent to CA years before - I C&D them (before CB) and I believe Chase pulled it back. The numbers were always Chase and the letters I got when I did DV them where from Chase but had nothing but the total amount. The account is valid (old CC) - credit limit was 5K with about 1.3 K worth of overlimit, interest, and late fees so I'm fairly happy with a 3.1 K payoff with a delete vs another 3+ years on my credit report as a chargeoff.

 

 

So TB50, you are saying that the CFPB complaint you made about Chase made them respond to you and offer you several "deals" as far as you can tell????

 

 

 

 

 

 

Yes, now maybe if I had contacted the Executive Customer Service dept directly I would have gotten the same offers but regular Chase Customer Service nor the collections department would budge off of PIF (one payment) and no PFD. At least CFPB got me in touch with the right folks.

 

 

 

 

 

Right On!!! Maybe this means we have an actual agency that is on our side?????

Edited by winstars

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Got a call today from Chase Executive Customer Service stating that received the complaint and they are reviewing it. She will contact me in a couple of days.

14.monster.gif

Edited by mpc578

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Got a call today from Chase Executive Customer Service stating that received the complaint and they are reviewing it. She will contact me in a couple of days.

14.monster.gif

 

 

Did they call you due to a complaint you made with the CFPB??? If so what was the issue???? When did you make they complaint????

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American Express responded to your complaint (Case number: 110721-0006xx):

 

No resolution provided

 

We regret that your complaint has not been resolved. We take consumer complaints very seriously and use complaints like yours to identify practices or areas of concern. A Consumer Financial Protection Bureau specialist is reviewing your complaint and may contact you and American Express to collect additional information. This could be a lengthy process, so we ask for your patience.

 

To track the status of your complaint, go to https://help.consume...omplaints/list.

 

Thank you,

 

Consumer Financial Protection Bureau

consumerfinance.gov

(855) 411-CFPB (2372)

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American Express responded to your complaint (Case number: 110721-0006xx):

 

No resolution provided

 

We regret that your complaint has not been resolved. We take consumer complaints very seriously and use complaints like yours to identify practices or areas of concern. A Consumer Financial Protection Bureau specialist is reviewing your complaint and may contact you and American Express to collect additional information. This could be a lengthy process, so we ask for your patience.

 

To track the status of your complaint, go to https://help.consume...omplaints/list.

 

Thank you,

 

Consumer Financial Protection Bureau

consumerfinance.gov

(855) 411-CFPB (2372)

 

 

 

 

 

Was the complaint AU related???

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Since AmEx cancelled all my cards because of AUs, I guess you could say the complaint was AU related. :P

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