The CFPB has released a new report, “Older consumers and student loan debt by state.” The new report is intended to be a supplement to the CFPB’s January 2017 “Snapshot” report that contained statistics on the growing number of consumers age 60 and over (older consumers) who owe student loan debt and the growing amount of such debt.… Continue Reading
CFPB issues advisory for older consumers about asset recovery scams
By Barbara S. Mishkin on
The CFPB recently issued an advisory for older consumers about asset recovery companies that target older consumers who are past victims of fraud, such as bogus timeshare investments and in-home business opportunities.
The advisory describes a typical asset recovery scam as one in which the asset recovery company contacts a defrauded older consumer claiming it can get the consumer’s money back for an upfront fee of several hundred to thousands of dollars. … Continue Reading