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Consumers Count: Five years standing up for you

In the past five years, we have written rules, enforced laws and, supervised banks and other financial companies, while at the same time creating resources to educate and engage you to make informed choices with your finances. 

CFPB proposes prohibiting mandatory arbitration clauses that deny groups of consumers their day in court

Today, we are proposing rules that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court. Our proposal is designed to protect consumers’ right to pursue justice and relief and deter companies from violating the law.

Published Category: Policy & Compliance

Fall 2015 rulemaking agenda

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Published Category: Info for consumers

New proposal to ban companies from using arbitration clauses as a free pass to avoid accountability

Buried in many contracts for consumer financial products are arbitration clauses that block consumers from seeking relief through class action lawsuits. Today, we’re releasing proposals under consideration that would stop companies from using these clauses to avoid accountability to their customers.

The Know Before You Owe mortgage rule will take effect October 3, 2015

Today, we’re issuing a final rule delaying the effective date for the Know Before You Owe mortgage disclosure rule to October 3, 2015. The Know Before You Owe rule will improve the way you’ll receive information about mortgage loans, both when applying for a loan and when you’re getting ready to close.

Published Category: At the CFPB

Spring 2015 rulemaking agenda

An important part of our mandate is to make rules more effective and create new rules when necessary. Today, we’re posting a semi-annual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Published Category: Policy & Compliance

Explainer: How small businesses play a role in the rulemaking process

We often hear many questions about how the rulemaking process works. We decided to write a series of posts that explain some key parts of the rulemaking process. Before we propose a rule, we’re sometimes required to organize a Small Business Review Panel so that we can hear from small businesses about the potential impacts of the rule. Small businesses provide us with valuable feedback as we write regulations to help consumer financial products and services work for Americans.

Published Category: Policy & Compliance

Fall 2014 rulemaking agenda

Today, we’re posting a semi-annual update of our rulemaking agenda in conjunction with a broader initiative led by the Office of Management and Budget (OMB) to publish a Unified Agenda of Regulatory and Deregulatory Actions across the federal government. Our regulatory agenda includes rulemaking actions in the following stages: pre-rule, proposed rule, final rule, long term actions, and completed actions.

Published Category: Policy & Compliance

Proposed changes to our Mortgage Servicing Rules: New protections for surviving family members and other homeowners

Since the Mortgage Servicing Rules went into effect, we’ve spent a lot of time talking to consumer advocacy groups, housing counselors, mortgage servicers, and trade associations, to better understand how the rules are working and whether we should make any changes to them. As a result, we’re now proposing some changes to the Mortgage Servicing Rules. The changes are intended to smooth the path for companies to better protect consumers and comply with the CFPB’s rules.