14 filtered results

Understanding reverse mortgages

Today, we released a Report to Congress on reverse mortgages. Our Office of Older Americans is dedicated to protecting this population. In that effort we have taken a special look at one financial product only sold to them: reverse mortgages.

A reverse mortgage is a special type of home loan that allows older homeowners to access the equity they have built up in their homes. They require no monthly mortgage payments, but borrowers are still responsible for property taxes and homeowner’s insurance.

Learn more.

Published Category: Info for consumers

Notice about possible debt consolidation scam

Earlier this month we told you about sweepstakes scams. We now have learned of another scam that we are looking into. Consumers are now reporting that callers are claiming to be from the CFPB and offering debt consolidation services. These callers are asking for credit card information from consumers. The CFPB does not offer debt […]

Published Category: At the CFPB

Design+Technology Fellows: Changing the way government works

Technology and innovation are fundamental to the ability of this 21st-century agency to achieve our consumer protection mission. That’s why we’re launching an outside-the-box technology hiring initiative – the Design+Technology Fellows program.

What is it? We’re asking the brightest, diverse, most amazing minds in graphic design, development, and user experience (UX) to join us for two years, linking up with our divisions to create innovative products that will redefine how work gets done in consumer financial protection.

Learn more.
Apply for a Design+Technology Fellowship.

Making consumer complaints available to the public

Today marks a major step forward in our work to protect consumers. In a first by a federal financial regulator, the Consumer Financial Protection Bureau (CFPB) will share with the public individual-level consumer complaint data received by the CFPB.

Introducing the Consumer Complaint Database.

No longer will consumer complaints only be known to the complainant, bank, regulator, and those who pursue this information through the Freedom of Information Act. Instead, this data-rich window into consumer financial issues will be widely available to everyone: developers, policymakers, journalists, academics, industry, and you.

Learn more.
Visit the database.


CFPB Ombudsman’s Office — A resource available to you

Did you know that the CFPB Ombudsman’s Office is a resource that is available to you? We are an independent, impartial, and confidential resource to help you resolve process issues arising from CFPB activities. You may have encountered an ombudsman in other areas of your life – maybe you’ve read a newspaper ombudsman’s column, used […]

Published Category: Info for consumers

Protecting Older Americans from financial abuse

We took an important step today towards looking out for older American consumers. Director Richard Cordray announced a public inquiry to learn more about the many ways in which older Americans are financially exploited and about the best practices for elder financial management.

We want to hear from you – especially those of you working directly with seniors – about these issues. How can seniors best determine the legitimacy of the credentials of financial planners and advisors? What information do you have on what financial education, counseling, or management programs are tailored to the unique needs of older Americans, their families, and their caregivers? Tell us what you think.

Thousands of voices on private student loans

This past winter, we issued a Request for Information to hear about people’s experiences with private student loans. We have now published the nearly 2,000 comments we received in reply.

The Dodd-Frank Act also requires the Bureau to analyze private student loan borrower complaints and offer recommendations to the Treasury Secretary, Education Secretary, and Congress. To help us get a more complete picture of the issues, we are now issuing a Request for Information about private student loan complaints. We have also asked state and local officials and advocacy groups to share what they have learned.

Learn more about our work for student borrowers.