Mary Hughes, Financial Institutions Bureau Chief of the Idaho Department of Finance, is council’s newest member.
Committee calls on several government agencies to address loan servicing and debt collection issues.
CFPB report finds 1,045 agreements in place in 2009 compared to 336 in 2013.
Consumer Financial Protection Bureau details incidents of “unscrupulous lenders” not honoring Electronic Fund Transfer Act.
Consumer Financial Protection Bureau Director Richard Cordray said the bureau fully intends to be the cop on the beat taking on the four Ds: Debt traps, dead-end markets, deceptive marketing and discrimination.
Credit unions might only need a re-evaluation of existing loan products to compete.
Both set to meet after the mid-term election to discuss proposal that limits payday lending at credit unions.
The NCUA's Consumer Protection Office also gives unsatisfied members a voice.
Supervisory committees are a serious, legitimate option in resolving complaints.
The Pentagon's proposal is more restrictive than NCUA payday loan alternative rules. Credit cards and overdraft financing also affected.