Credit Card Consumers Find Valuable Information on Website

In June, the CFPB launched a website that posts complaints against specific banks and other lenders made by credit card customers.

2012-12-20

December 20, 2012 (Press-News.org) Credit Card Consumers Find Valuable Information on Website

The Consumer Financial Protection Bureau is working to help American consumers by making credit card company and other lender practices more transparent. In June, the CFPB launched a website that posts complaints against specific banks and other lenders made by credit card customers.

Visitors to the website can search for complaints by type, such as by particular complaint, card issuer name and by zip code.

Resistance From Banking Industry

The banking industry has fought the creation of this website. The banking industry did not want the names of specific lending institutions to be released on the website. Banks argued they would take an unfair hit to their reputation since some of the complaints may not be valid. Also, the CFPB oversees only those banks with $10 billion in assets, so the industry is concerned that larger banks will appear to be "the bad guys" while smaller institutions will come out unscathed.

The CFPB, however, takes steps to assure that customer complaints are valid by determining if the complaining consumer actually has a debt with the bank and if there has been more than one complaint filed by the same consumer.

Benefits to Consumers

The CFPB received about 17,000 credit card complaints between June 2011 and July 2012. The group also deals with complaints about mortgages, student loans, other consumer loans and various bank services. It plans to increase public availability of complaints about services other than credit cards as well. The website also includes information on the company's response to a valid complaint, such as whether it responded in a timely way and what actions the company took to resolve the complaint.

The most common reported complaint was billing dispute issues.

The website may help consumers take preventative measures by avoiding companies that have a track record of consumer complaints. However, consumers with current debt or credit card disputes should contact an attorney to help them ensure that their legal rights are protected.

Article provided by Law Offices of Brian A. Barboza
Visit us at http://www.barbozalaw.com

ELSE PRESS RELEASES FROM THIS DATE:

Modifying a Connecticut Child Support Order

2012-12-20

Modifying a Connecticut Child Support Order Parents have a legal obligation to support their children financially. When parents divorce, or in cases when parents were never married, the parent who does not have custody of the child must pay child support to fulfill his or her responsibility to meet the child's financial needs. In some cases, parents' situations change as time goes on and they need to change child support orders after the court issues them. Connecticut parents should be aware of when they may modify child support orders and why they need to make modifications ...

Mike Pellini of Foundation Medicine to Present at 6th Oncology Biomarkers, Mar. 20-22, San Francisco

2012-12-20

Michael Pellini, President and CEO of Foundation Medicine, will give a presentation titled "Clinical Application of Comprehensive Cancer Genomic Analysis Utilizing Next Generation Sequencing (NGS) in Clinical Oncology" at GTC's 6th Oncology Biomarkers Conference in San Francisco, CA on March 20-22, 2013. Advances in our understanding of cancer biology and the explosion of discoveries emerging as academic and public efforts worldwide apply NGS to cancer genomes are being translated into real clinical benefits for cancer patients. The elucidation of genomic changes ...

Edges Art - A Place for Buying Art and Picture Framing

2012-12-20

Artwork is incomplete without framing. After the creation of art, art framing is necessary to set it in style. Selection of a wrong frame can ruin the entire look of piece and may leave a bad mark on the room you hang it in. Edges Art offers quality picture framing and also provides the best consultation in personalised design. People can also buy art at an affordable price here. Work can be displayed well with picture framing. As frames help to protect the piece for years, it's worth to invest in it. If you have a picture and would want it to be properly framed, finding ...

Home Exteriors Energy Consultants Honored with 2012 Talk of the Town Customer Satisfaction Award

2012-12-20

Earning a 4.5-star rating for customer satisfaction, Home Exteriors Energy Consultants Inc. has won the prestigious CMUS Talk of the Town Customer Satisfaction Award in the Contractors — Doors & Windows category. The Talk of the Town Awards, presented by Talk of the Town News, Customer Care News magazine and Celebration Media U.S. (CMUS), honor companies and professionals that provide excellent customer service as reported by their customers through no-cost, user-review websites, blogs, social networks, business rating services, and other honors and accolades. This ...

Learn How To Survive When Being Shot At

2012-12-20

Chabot Strategies and Direct Measures International strongly encourages communities to better train themselves against active shooters. This training is not just for law enforcement. We strongly encourage participation from schools, hospitals, colleges, businesses, government offices, community organizations, and more. Dr. Paul Chabot, President of Chabot Strategies said, "The mass killing of 20 children and six adults yesterday is yet another reminder that no community is immune from evil. Schools, hospitals, malls, theaters have all been terrorized this year ...

WBGO JAZZ 88.3 FM Holds Fifth Annual Coat Drive December 18 - January 18

2012-12-20

Everyone deserves to be safe and warm; but due to tough economic times and the aftermath of Superstorm Sandy, many of our neighbors can use a helping hand. To bring warmth into the lives of infants, children and adults throughout the area, WBGO Jazz 88.3 FM is hosting its Fifth Annual Coat Drive December 18, 2012- January 18, 2013. "While reports have said that holiday spending is up, that is just not the case for so many of our neighbors. There are still numerous jobless and homeless individuals, families living in shelters and parents who simply cannot afford ...

Fantasy Baseball Podcast Offers Weekly Dispute Resolution Service

2012-12-20

The Dear Mr. Fantasy baseball podcast has announced the addition of a free weekly dispute resolution service for its audience. Joining with Fantasy Judgment, a professional fantasy league dispute resolution service, the program is offering a weekly segment to settle disputes involving any number of issues. With fantasy sports growing in popularity annually, there has been an increasing need for a dispute resolution service worldwide. Fantasy sports now account for approximately $4 billion in annual economic impact across the sports industry. The Dear Mr. Fantasy ...

Chicago Real Estate Attorney Ranj Mohip Again Honored by SuperLawyers

2012-12-20

The Law Office of Ranj Mohip, LLC is once again proud to announce that managing attorney Ranj Mohip has been recognized as a 2013 Rising Star by SuperLawyers.com. This is the second year in a row that Chicago real estate Attorney Mohip has been named a Rising Star. Upon receiving notice of the award, Mr. Mohip said, "While any recognition of achievement is welcome, receiving such an award from a group as prestigious as SuperLawyers is truly an honor." SuperLawyers is a service that rates lawyers who have attained a high-level of peer recognition and professional ...

Golden Shovel Agency Updates Brand

2012-12-20

Building on its reputation for groundbreaking web solutions, Golden Shovel Agency is updating its own website and brand in order to better provide rural communities the online presence needed to attract and retain business. Golden Shovel Agency currently has over 70 clients in 11 states that utilize Economic Gateway, gatekeeper service, webinars, or a combination of all three. Golden Shovel's Economic Gateway provides clients with a suite of economic development modules with all future enhancements and additions included. A mobile version of Economic Gateway will ...

BlueStep Systems Appoints Thomas Bang Chief Executive Officer

2012-12-20

BlueStep Systems, LLC (www.bluestep.net), a leading provider of software solutions for operators of post and non-acute care facilities, announced today that Tom Bang has been named Chief Executive Officer. BlueStep' s former CEO, Roy Rasband, will assume the role of Chief Technology Officer. He will continue to lead product and technology development efforts and drive the Company's product vision. Mr. Bang has been a leader in the healthcare technology and services sectors for over 25 years. As the CEO of A-Life Medical, Inc., a revenue-cycle management software solutions ...

Credit Card Consumers Find Valuable Information on Website

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: