We are committed to engaging with the public and members of the media regularly with accurate and up-to-date information on our work. Below are materials produced by our Office of Communications.
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Good morning. I would like to thank each of you for the work you are doing to help young people establish a healthy financial foundation. Earning a college degree has become increasingly important to personal and professional success in life. Yet we know it also can impose long-term burdens that borrowers struggle to manage. Today, […]
Chairman Hensarling, Ranking Member Waters, and Members of the Committee, thank you for the opportunity to testify today about the Bureau’s Semi-Annual Report to Congress. We appreciate your continued leadership and oversight. I look forward to getting to know the new Members of the Committee as we all work together to strengthen our financial system […]
I want to thank everyone here for your continued work to make a difference in the financial lives of consumers. As we recognize America Saves Week and Military Saves Week, it is notable that the Commission is gathered here today to discuss youth savings accounts. The release of this guidance will help young people all across the country to become more actively engaged in their own financial lives.
Bureau Proposes to Temporarily Suspend Card Issuers’ Obligation to Submit Credit Card Agreements WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) issued a proposal aimed at improving the way that companies submit consumer credit card agreements to the Bureau. The proposal would temporarily suspend a requirement that each quarter certain credit card issuers […]
Good afternoon. It is an honor to be here today alongside some stalwart champions of the Consumer Financial Protection Bureau. We are all here today to show our support for the crucial work that Labor Secretary Tom Perez and his team are doing to protect consumers by bringing more transparency to the complex world of […]
Thank you, General Hood. As a former attorney general myself, I have made it a point to come here every year, and I am glad to be back for the fourth year running. I know there are many new faces in the audience, and I look forward to working with all of you on matters […]
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) reported that more than 50 million consumers now have free and regular access to their credit scores through their monthly credit card statements or online. Last year, the CFPB launched a credit score initiative, which called on more of the nation’s top credit card companies to make credit scores freely available to their customers. The Bureau also released a new consumer focus group study indicating that while consumers are accessing their credit scores and credit reports in a variety of ways, confusion about both persists.
Thank you for joining us as we meet with our Consumer Advisory Board. We always look forward to this dialogue, as the members share with us their perspective, their expertise, and their actual experience on the ground. We are all here because we care deeply about how people are being treated in the consumer financial […]
Good afternoon. It’s a pleasure to be here with all of you. I believe that we share common goals: a strong and vibrant consumer financial services market, as well as a highly competitive, sustainable economy that works for the benefit of consumers and business alike. Today, I will seek to provide you with a better understanding as to how the Bureau utilizes a risk-focused supervision program in furtherance of those goals.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) is taking action against three mortgage companies for misleading consumers with advertisements implying U.S. government approval of their products. The CFPB is suing reverse mortgage lender All Financial Services, seeking to halt its illegal activities. The CFPB is also ordering Flagship Financial Group and American Preferred Lending to end their false advertising.
Hello and thank you for taking time to join NCUA’s webinar today. I would like to personally thank Chairman Matz for allowing the Bureau the opportunity to speak to you directly and hear your experience with our work, most especially our mortgage rules. I want to start by thanking all of you for your help […]
Today, the Consumer Financial Protection Bureau (CFPB) took action against NewDay Financial, LLC for deceptive mortgage advertising and kickbacks. NewDay deceived consumers about a veterans’ organization’s endorsement of NewDay products and participated in a scheme to pay kickbacks for customer referrals. NewDay will pay a $2 million civil money penalty for its actions.
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a report highlighting the top complaints for reverse mortgages. According to the report, consumers are frustrated with their loan terms, servicer runarounds, and foreclosure problems. To help consumers who already have a reverse mortgage, the CFPB is issuing an advisory with tips on how to plan ahead to protect loved ones from financial hardship brought on by a reverse mortgage.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) ordered Continental Finance Company LLC, a subprime credit card company based in Delaware, to refund an estimated $2.7 million to approximately 98,000 consumers who were charged illegal credit card fees. The agency found that the company’s “fee-harvester” subprime credit cards misrepresented certain fees and hit consumers with illegal charges. The order also requires the company to pay a civil penalty of $250,000.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) asked a federal district court to enter a consent order that would permanently ban a Texas-based company, Union Workers Credit Services, from offering any consumer credit products or services after it duped thousands of consumers into signing up for a sham credit card. The order […]