Blog

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Published Category: Info for consumers

Notice about possibly malicious emails

Today, the CFPB has learned that businesses have received emails that falsely purport to originate from the CFPB. These emails contain the subject line “Consumer complaint regarding your Company.” They direct recipients to respond to consumer complaints filed against them. The CFPB did not send or direct anyone to send these emails. These emails may […]

We’re taking nominations for our Consumer Advisory Board

We are assembling a group of experts who can give us the outside guidance we’ll need as we move forward with our work. Board members will provide us with information about emerging trends and practices.

We are looking for nominees with backgrounds in consumer protection, financial services, fair lending, civil rights, consumer financial products and services, or community development. Learn more and submit a nomination.

Published Category: Info for consumers

What’s your status when it comes to overdraft coverage?

As we begin our inquiry into overdraft practices, we’ve issued a consumer advisory on overdraft coverage and fees. Institutions can’t charge you for overdrafts on ATM or point-of-sale debit card transactions unless you have opted in. Knowing your status can help you decide what’s best for you.

Gail Hillebrand, our Associate Director for Consumer Education and Engagement, suggests four simple ways you can reduce or eliminate overdraft fees.

Published Category: Policy & Compliance

SBREFA, Small Providers, and Mortgage Disclosure

The CFPB is mindful that new statutory requirements we are implementing can burden as well as benefit small financial services providers. We use many methods to reach out to small providers to find out if any of these burdens are unnecessary and, if so, how we may be able to reduce them (within the limits […]

Published Category: Policy & Compliance

Know Before You Owe: The last dance…or is it?

This week we are in Austin, Texas! We’re conducting the final round of testing of the integrated disclosures you receive at two different points in the mortgage process. You receive the first when applying for a loan, and you get the other at closing. After this, we’ll be shifting to the second phase of this […]

Office of Financial Education begins listening tour in New York

Financial education organizations, many with limited staff and money, could have a bigger impact by teaming with agencies that provide services and other forms of counseling.

In other words, providers should take financial education to consumers when they are most willing to learn, instead of spending time and effort trying to draw people to financial education events or engage them through expensive “awareness campaigns.”

Published Category: Policy & Compliance

We want to make it easier for you to submit comments on streamlining regulations

In November of 2011, we asked you to help us streamline the regulations we inherited from seven Federal agencies. Today we launched our Regulation Streamlining Feedback Web Tool . This tool allows you to give input on ways to streamline the regulations the CFPB inherited under the Dodd-Frank Wall Street Reform and Consumer Protection Act. […]

Making a difference in the lives of immigrants and others who send money abroad

Over my years of public service, I’ve met a lot of hard-working people who regularly send money transfers, or remittances, to family members and others abroad. Remittances from the U.S. to other parts of the world total in the tens of billions of dollars each year. Remittance senders are a diverse group from every income […]