CFPB Starts Accepting Cash Advance Complaints. Customers can submit pay day loan complaints to your Bureau about
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) is now accepting complaints from borrowers experiencing issues with pay day loans. Pay day loans, also referred to as “cash improvements” or “check loans,” tend to be short-term, little buck loans, generally speaking for $500 or less.
“Before the customer Bureau, customers that has difficulty with payday financial products had few places to turn,” said CFPB Director Richard Cordray. “By accepting customer complaints about payday advances, I will be providing individuals a larger sound in this market.”