consumer financial protection bureau

The Takeaway: Americans Are Misusing Reverse Mortgages, Says Consumer Agency

Posted on 06/28/2012 by | Brooklyn, NY | Comments

Bulletin TodayReverse mortgages are not being used as Congress intended, according to a new report from the government watchdog agency Consumer Financial Protection Bureau (CFPB). Reverse mortgages were created to provide an income options for retirees. But these mortgages are increasingly being taken out by younger borrowers, which could decrease long-term retirement security. Borrowers also tend to take lump-sum payments that can be used up quickly.

Got A Credit Card Gripe? Now You Can Post It for All to See

Posted on 06/19/2012 by | Money and Work | Comments

Bulletin Today | Money & SavingsGot a gripe about your credit card? Get ready to be heard around the country. The Consumer Financial Protection Bureau launched a new database Tuesday that’s devoted to collecting consumer complaints against credit card companies—for all to see. If you post a gripe, your name will be kept in confidence but the credit card issuer’s name and the nature of the complaint will be visible to people conducting searches on the site. The database will also disclose how the card …