Advisory opinion explains that most “pay-to-pay” fees charged by debt collectors violate federal law
Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees. These charges, commonly described by debt collectors as “convenience fees,” are imposed on consumers who want to make a payment in a particular way, such as online or by phone.
Read More!
CFPB moves to prohibit check by phone fees – CFPB – Consumer Financial Protection Bureau
More Stories
Your Collateral Just Left the Country
$3.3 Million for Credit Union CEO Luxury and Only $1.7 Million for 33 Employees
The Pastor, the Credit Repairmen and $460,000 in Fraudulent Auto Loans
One Employer, Hundreds of Auto Loans: The Fed Warns About Concentrated Credit Risk
The 30-Day Blind Spot: How Straw Buyers Financed Nearly 100 Cars Before Lenders Could See Them Coming
They Called a Collector; They Got a Credit Repair Company Instead