cash cow title loans

Report: Customer Protection. Here is the 7th in a number of reports that review complaints towards the CFPB.

Report: Customer Protection. Here is the 7th in a number of reports that review complaints towards the CFPB.

Predatory Loans & Predatory Loan Complaints

Executive Summary

In this report we explore customer complaints about predatory loans, classified within the database as pay day loans, installment loans, and car name loans.

This can be our very very first are accountable to integrate an analysis of customer narratives or written explanations of dilemmas — an addition to your database we advocated for with Americans for Financial Reform and accomplished last year.

This report discusses cash advance complaints from numerous perspectives:

  • The sort of issue, such as for instance loan interest which wasn’t anticipated
  • Complaints by business
  • Whether and exactly how organizations taken care of immediately complaints

This report features a area showcasing the CFPB’s top achievements. We also provide a history regarding the battle to rein when you look at the lending that is predatory and talk about the importance of a guideline the CFPB is anticipated to finalize in 2010. Read More