As the mortgage disclosure team said last week, we based Know Before You Owe on the idea that disclosure information is clearer when the people who will have to use those disclosures participate in designing them. We got feedback from many sources in many ways: In-person testing of the forms in cities across the country […]
We announced an enforcement action against one of the largest short-term, small-dollar lenders in the country. The company has agreed to reimburse up to $14 million and pay a $5 million penalty for the violations and other misconduct. Read more about the enforcement action.
Today, we held a field hearing in Boston on Know Before You Owe: Mortgages. The live event has ended. A recording will be available here soon.
Today, we held a forum on auto finance here at the CFPB. The forum featured remarks from CFPB Director Richard Cordray as well as panel discussions with senior CFPB officials, federal regulators, consumer group representatives, and industry stakeholders. Learn more about the auto finance forum.
We were in Chicago for a field hearing on credit cards. We heard remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but a recording of the event is available.