CFPB / Consumer Financial Protection Bureau This agency that Obama created is a Joke. I filed a complaint they did nothing Washington, District of Columbia
A Business violated the TILA when they folded my financial contract and had me to initial and sign the bottom. They failed to go over the contract with me. They did not explain the cost of interest, payment amount, they also told me they were throwing in for FREE a warranty service contract.
Afterwards they told me I was ready to go here is your keys, and license plate I ask them about the terms of sale and also told them I suppose to receive a copy of all paperwork involved. They said oh we are not finished with it yet and that we will mail you a copy once we're done.
I received my copy two days later in the mail, I have the envelope with the date they metered it.
After reviewing the documents I noticed the FREE warranty service contract they claimed I would receive for free cost me almost $2000.00 and the interest was way to high. I also found out they pull your credit score from all three credit bureau's and go with the lowest score so they can charge more interest.
The Bureua who gives the lowest score is Equifax thats the reason most Businesses use Equifax.
After filing my complaint with CFPB Consumer financial Protection Bureau here is there response.
Thank you for contacting the Consumer Financial Protection Bureau.
After reviewing your complaint, it appears the Consumer Financial Protection Bureau cannot pursue the issue you described. The FDIC may be able to address this issue. For more information or to file a complaint, contact the FDIC
at:
FDIC Consumer Response Center
1100 Walnut Street, Box #11, Kansas
City, MO 64106
http://www.fdic.gov
1-877-ASK-FDIC (275-3342)
Thank you,
Consumer Response Team
Consumer Financial Protection Bureau
consumerfinance.gov
(855) 411-CFPB (2372)
If I have to file my complaint with FDIC than what the hell do we need with the so called CONSUMER FINANCIAL PROTECTION BUREAU for. Just another waste of Government money for Obama to create an agency to place some of his buddies in to make money paid for by the Taxpayers.
5 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
Consumer Protection, Our politicians are well aware of the fact that fraud and corruption exist in the.....
#6Consumer Comment
Sat, May 26, 2012
auto industry. Without fraud, corruption, deception, and trickery, many auto dealers in the USA would not be able to generate their much needed profits in order to stay afloat. Car Dealers make much of their money on extended warranties, which are not necessary in just about all cases because they basically cover 'manufacturers defects'. Most people do not understand that extended warranties are really worthless, in almost all cases.
Feel free to 'Google' this- ELIZABETH WARREN GRILLS GEITHNER, CRITICIZES TREASURY'S FORECLOSURE PROGRAM, and watch that 6 minute and 17 second video on the web.
***Pay close attention to what she stated at 4 minutes and 50 seconds into that video about 'Car Dealers'.
Good luck to you.
***NATIONWIDE BANK ALERT: Make sure to stay at this site and type in- BANK, and read the Ripoff Reports from people all over America for important information if you have a bank account or a mortgage.
Flynrider
Phoenix,Arizona,
USA
To the OP.
#6Consumer Comment
Fri, May 25, 2012
I see the problem now. What I posted was common sense fact that everyone should know. While the majority of literate people are able to read and decipher simple contracts, your post illustrates that some people need help. The fact that you confuse this common sense advice with legal advice speaks volumes about your original posts.
Good luck with the bailout.
Robert
Irvine,California,
U.S.A.
Hilarious
#6Consumer Comment
Fri, May 25, 2012
I guess only on RipOff report could someone recommend that if you don't understand what you are signing that you should consult a lawyer and get accused of giving legal advise. Well I'll give credit to the OP for one thing. At least they didn't accuse him of being an employee of the company.
Too bad for the OP that you can't legislate stupid, because that is the only way the OP would get any help. Of course that is just my totally non-legal opinion.
But if you think you have a case why not talk to an actual lawyer..oh and when you do let us know what they say.
PROTECT_2ND_AMENDMENT
Columbia,Missouri,
United States of America
Flynrider from AZ
#6Author of original report
Thu, May 24, 2012
I noticed for sure the Arizona dessert heat is getting to you. Are you a Licensed Attorney ? if so please post your full name along with you Bar number.
If not than keep your mouth shut because it sure does show from your post that you're giving out Legal advise. Only Licensed Attorneys should be giving out such advise.
Are you giving me advise in parts or versions ? if in parts leave my part out.
Thank you very much.
Peace in the city with nothing but dirt.
Flynrider
Phoenix,Arizona,
USA
Out of luck.
#6Consumer Comment
Thu, May 24, 2012
As far as I know, there is no federal agency that can prevent you from signing binding contracts without reading them. That's basically what happened here.
" they folded my financial contract and had me to initial and sign the bottom. "
Seriously? You would sign a contract that they were obviously trying to prevent you from seeing? How did you expect to know what you were agreeing to?
" They failed to go over the contract with me. "
They are neither your mother, or your lawyer. If you cannot read or understand a contract, it is up to you to get your own independent advice before signing.
" They did not explain the cost of interest, payment amount, "
Those details would have been on the contracts you didn't read. Again, they are not your lawyer and are not required to explain contracts to you.
The CFPB was not created to bail you out after you make poor financial decisions. You should know by now that the feds only bail out multibillion dollar institutions for their poor financial decisions. You are pretty much stuck with yours.