Consumer Financial Protection Bureau
Tonight, when Vice President Biden and President Obama address the country the question before them is an obvious one: are we better off than we were four years ago? The answer is equally obvious: YES!
The bureau said foreclosure rates are rising at an “alarming rate” for senior homeowners with these reverse mortgages. The federal agency urged consumers especial older homeowners to do their research before using a reverse mortgage to tape their home equity.
The government is launching an online database of complaints about credit cards. The public can see what types of complaints people have filed against any bank that issues credit cards.
The new Consumer Financial Protection Bureau opened for business on Thursday, with a branch office located in San Francisco.