# Consumer bureau
Consumer Bureau Takes Aim at Debt Collection "Junk Fees"
Financial regulator outlines illegal fees, takes action to prevent unlawful debt collection. The Consumer Financial Protection Bureau (CFPB) recently issued an advisory opinion noting that the so-called "convenience fees" often charged by debt collectors to facilitate debt repayment are prohibited by federal law.
Consumer Bureau Launches Office of Competition and Innovation
CFPB: Competition in markets is good for business and consumers. The Consumer Financial Protection Bureau (CFPB) announced this week it is launching a new Office of Competition and Innovation to encourage new entrants into financial marketplaces as a means of improving customer service.
Consumer Bureau Takes Action to Protect Victims of Human Trafficking
Bureau notes negative credit reporting can haunt survivors. The Consumer Financial Protection Bureau (CFPB) announced that it is using its rulemaking authority to take steps to protect survivors of human trafficking.
Tennessee-based Student Loan Servicer Edfinancial Fined by Consumer Bureau
EdFinancial misled borrowers to pad profits, CFPB says. Knoxville, Tennessee-based student loan servicing company Edfinancial is facing sanctions and a $1 million fine for misleading student loan borrowers and failing to provide them with accurate information about loan repayment options. According to the Consumer Financial Protection Bureau (CFPB) the deceptive acts padded Edfinancial's profit margins while student loan borrowers repaid more than they should have.
Illinois Consumer Group Calls for Fairness in Small Business Lending
Woodstock Institute Calls on CFPB to Collect Key Data. In response to proposed rules on small business lending issued by the Consumer Financial Protection Bureau (CFPB), Chicago-based Woodstock Institute released a comment letter calling for fairness in data collection.
LendUp Shuttered by Consumer Bureau
Move to Close Fintech Lender Comes After Multiple Violations. The Consumer Financial Protection Bureau (CFPB) announced today it has reached an agreement with LendUp that means the lender will stop doing business.