Newsroom | Consumer Financial Protection Bureau

Press release

Published SEP 17, 2024

CFPB Takes Action to Stop Banks from Harvesting Overdraft Fees Without Consumers' Consent

The CFPB today published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements.

Director's statement

Published SEP 17, 2024

Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Stopping Fintech Deposit Meltdowns

Over the past decade, we have seen a significant incursion into consumer deposit taking and payments activities by companies that aren’t banks or credit unions. These firms want the public benefits of being a bank or credit union, without the public obligations.

By Rohit Chopra

Director's statement

Published SEP 17, 2024

Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Actions to Strengthen Bank Merger Review

Today, the FDIC Board of Directors is voting to finalize its policy statement on bank mergers.

By Rohit Chopra

Speech

Published SEP 13, 2024

Prepared Remarks of CFPB Director Rohit Chopra at the Congressional Black Caucus Foundation's 53rd Annual Legislative Conference

Director Chopra delivered remarks on housing, including refinancing, appraisals, and other topics.

By Rohit Chopra

Press release

Published SEP 13, 2024

CFPB Sues Horizon Card Services and CEO Robert Kane for Illegally Baiting, Gouging, and Trapping Families in High-Fee Credit Cards

The CFPB sued Horizon Card Services and its CEO Robert Kane for tricking consumers into signing up for its expensive membership credit card.

Speech

Published SEP 13, 2024

Prepared Remarks of Seth Frotman at the Poverty Law Conference

CFPB General Counsel Seth Frotman spoke at the Poverty Law Conference about consumer financial law and low-income families.

By Seth Frotman

Press release

Published SEP 12, 2024

CFPB Bans Navient from Federal Student Loan Servicing and Orders the Company to Pay $120 Million for Wide-Ranging Student Lending Failures

Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order against the student loan servicer Navient for its years of failures and lawbreaking.

Speech

Published SEP 12, 2024

Prepared Remarks of CFPB Director Rohit Chopra on the Navient Enforcement Action Press Call

Director Chopra delivered remarks on the CFPB’s enforcement action against Navient.

Press release

Published SEP 11, 2024

CFPB Orders TD Bank to Pay $28 Million for Breakdowns that Illegally Tarnished Consumer Credit Reports

The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.

Speech

Published SEP 09, 2024

Prepared Remarks of CFPB Director Rohit Chopra at the National Housing Conference

Director Chopra delivered remarks on streamlining the refinancing process.

Director's statement

Published SEP 05, 2024

Statement of CFPB Director Rohit Chopra Regarding the Transportation Department's Probe Into Airline Rewards Programs

Consumer Financial Protection Bureau Director (CFPB) Director Rohit Chopra issued a statement following a U.S. Department of Transportation inquiry into airline rewards programs.

By Rohit Chopra

Press release

Published SEP 05, 2024

CFPB Report Highlights Consumer Protection Issues in Medical and Rental Debt Collection

The CFPB today issued its annual report on debt collection, which highlights aggressive and illegal practices in the collection of medical debt and rental debt.

Press release

Published AUG 29, 2024

CFPB Orders NewDay USA to Pay $2.25 Million for Illegally Luring Veterans and Military Families into Cash-Out Refinance Loans

The CFPB took action against repeat offender New Day Financial (NewDay USA) for deceiving active duty servicemembers and veterans seeking cash-out refinance loans.

Consumer advisories

Published AUG 28, 2024

Consumer Advisory: Video games are targeting your children to get into your wallet

Gaming marketplaces increasingly mirror banking and payment systems but use design tricks to encourage spending, and our children are often the primary audience. Here are steps to help protect your family.

By Consumer Financial Protection Bureau

Press release

Published AUG 27, 2024

CFPB Report Finds Large Retail Chains Charging Cash-back Fees to Customers Using Debit and Prepaid Cards

The CFPB published a new report finding Americans are paying tens of millions of dollars in fees to access their own money when getting “cash back” at large retail stores when making a purchase with a debit or prepaid card.

Press release

Published AUG 21, 2024

CFPB Takes Action Against Fay Servicing for Illegal Foreclosure Actions and Violating Law Enforcement Order

The CFPB ordered Fay Servicing to pay a $2 million penalty for violations of mortgage servicing laws, and for violations of a 2017 agency order.

Press release

Published AUG 13, 2024

CFPB Takes Action to Stop Contract-for-Deed Investors from Setting Borrowers Up to Fail

The CFPB released an advisory opinion and research report on a form of home seller financing that is often referred to as contract for deed.

Speech

Published AUG 13, 2024

Prepared Remarks of CFPB Director Rohit Chopra at the CFPB’s Field Hearing in St. Paul, Minnesota

Director Rohit Chopra discussed contracts for deed and the CFPB’s housing efforts at a field hearing in St. Paul, Minnesota.

Consumer advisories

Published AUG 13, 2024

Consumer advisory: Help is available for people facing housing problems because of a contract for deed

People living in a home paid for through a contract for deed can seek help to stay in their home instead of losing it when trouble strikes.

By Consumer Financial Protection Bureau

Letter

Published AUG 12, 2024

CFPB Comment on Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector

The CFPB comment on the Department of Treasury’s Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector.

Press release

Published AUG 08, 2024

CFPB Takes Action Against Credit Repair Cloud and CEO Daniel Rosen for Enabling Credit Repair Companies that Harvest Illegal Fees

The CFPB filed a proposed order to resolve its lawsuit against Credit Repair Cloud and CEO Daniel Rosen for assisting businesses that charge illegal advance fees to consumers.

Press release

Published AUG 07, 2024

CFPB Report Finds Lenders Cramming Markup Fees and Confusing Terms into Solar Energy Loans

The CFPB issued a report finding that some residential solar lenders are misleading homeowners and cramming markup fees into borrowers’ loan balances.

Consumer advisories

Published AUG 07, 2024

Consumer advisory: Steer clear of costly and complex loans for solar energy installation

People can submit complaints about solar loans with the CFPB and with other federal and state agencies.

By Consumer Financial Protection Bureau

Speech

Published AUG 07, 2024

Prepared Remarks of CFPB Director Rohit Chopra at the Treasury Roundtable on Solar Financing

Director Rohit Chopra delivered remarks about preventing predatory lending in the residential solar market.

Consumer advisories

Published AUG 07, 2024

نشرة استشارية للمستهلكين: تجنب القروض الباهظة والمعقدة لتركيب أنظمة الطاقة الشمسية

يمكن للأشخاص تقديم شكاوى بشأن قروض الطاقة الشمسية إلى مكتب الحماية المالية للمستهلكين CFPB وإلى وكالات فيدرالية وحكومية أخرى.

By Consumer Financial Protection Bureau