Wednesday, November 06, 2013

Consumer Alert: Consumers can send payday loan complaints to CFPB McCune Davis: ‘Predatory lending is still an issue in Arizona’

Consumer Alert: Consumers can send payday loan complaints to CFPB
McCune Davis: ‘Predatory lending is still an issue in Arizona’

STATE CAPITOL, PHOENIX – Rep. Debbie McCune Davis, D-Phoenix (District 30), today applauds the Consumer Financial Protection Bureau for beginning to accept payday loan complaints.

“Although payday loans are illegal here, I know that predatory lending is still an issue in Arizona,” McCune Davis said. “Consumers can now serve as watchdogs in their communities by reporting these practices as soon as they encounter them. The CFPB is providing a valuable service and I commend the organization.”

The following are predatory lending practices for which the CFPB will accept complaints:
·               Unexpected fees or interest
·               Unauthorized or incorrect charges to their bank account
·               Payments not being credited to their loan
·               Problems contacting the lender
·               Receiving a loan they did not apply for
·               Not receiving money after they applied for a loan

The CFPB also takes complaints regarding consumer credit cards, mortgages, bank accounts and services, private student loans, consumer loans, credit reporting, debt collection and money transfers. Consumers can submit complaints to the CFPB by:

·               Going online at www.consumerfinance.gov/Complaint
·               Calling the toll-free phone number at 1-855-411-CFPB (2372) or TTY/TDD phone number at 1-855-729-CFPB (2372)
·               Faxing the CFPB at 1-855-237-2392
·               Mailing a letter to: Consumer Financial Protection Bureau, P.O. Box 4503, Iowa City, Iowa 52244

Consumers can also get answers to questions regarding payday loans at consumerfinance.gov/askcfpb or by calling 1-855-411-CFPB (2372).


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