Tag: cfpb
Inactivity Fee
What is 'Inactivity Fee' 1. A sum charged to investors who haven't engaged in any buying or selling activities in their brokerage...
Ombudsman
What is 'Ombudsman' An official who investigates complaints (usually lodged by private citizens) against businesses, financial institutions and/or the government. An ombudsman...
Ability To Repay
What is 'Ability To Repay' An individual's financial capacity to make good on a debt. Specifically, the phrase "ability to repay" was...
Real Estate Settlement Procedures Act (RESPA)
What is 'Real Estate Settlement Procedures Act - RESPA' This act was designed to protect potential homeowners and enable them to become...
Payday Loans
DefinitionA payday loan is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are...
Fair Credit Reporting Act (FCRA)
DefinitionThe Fair Credit Reporting Act, 15 U.S.C. § 1681 is U.S. Federal Government legislation enacted to promote the accuracy, fairness, and privacy of consumer...
Fair Debt Collection Practices Act (FDCPA)
What is the 'Fair Debt Collection Practices Act - FDCPA' The Fair Debt Collection Practices Act (FDCPA) is a federal law that...
Federal Agencies
What is 'Federal Agencies' Special government organizations set up for a specific purpose such as the management of resources, financial oversight of...