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Director's statement
Published

Prepared Remarks of CFPB Director Rohit Chopra on the Proposed Personal Financial Data Rights Rule

Director Chopra discussed the CFPB’s proposed rule to activate a dormant authority under a 2010 law to accelerate much-needed competition and decentralization in banking and consumer finance by making it easier to switch to a new provider.
Press release
Published

CFPB and Justice Department Issue Joint Statement Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants

The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless of their immigration status.
Press release
Published

Joint Statement on Fair Lending and Credit Opportunities for Noncitizen Borrowers under the Equal Credit Opportunity Act

The Consumer Financial Protection Bureau and Department of Justice (collectively, the agencies) jointly issue this statement to assist creditors and borrowers in understanding the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA).
Press release
Published

CFPB Issues Guidance to Halt Large Banks from Charging Illegal Junk Fees for Basic Customer Service

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, such as charging excessive fees, for basic information about their own accounts.