As many families are preparing to celebrate the Mother’s Day holiday, new family norms are creating the need for alternatives in financial care. Get help with our national Managing Someone Else’s Money Guides.
Morgan Drexen has gone out of business. If you are a Morgan Drexen customer, you must take action on your debts. You can also request a refund of any money that is currently in your settlement account.
We’re ordering JP Morgan Chase to refund $50 million and stop collecting on 528,000 accounts
Chase has already begun compensating consumers and will contact you if you are eligible for payment.
If you are paying back student loans, you are not alone. Over 40 million Americans are repaying more than $1.2 trillion in outstanding student loan debt. Paying off student debt can be stressful. If you’ve run into roadblocks, tell us about it. Learn more about the roadblocks some borrowers face and tell us about your experience.
To help you navigate these new waters, we’ve just launched a crisp new version of our Paying for College tool kit. Making apples-to-apples comparison of your financial aid offers has never been easier.
Today, we filed a lawsuit against ITT Educational Services, Inc., accusing the for-profit college chain of predatory student lending. We believe that ITT used high-pressure tactics to push many students into expensive private student loans that were likely to end in default. Watch the press conference or read remarks.
We’re taking action against Ocwen Financial Corporation for years of systemic misconduct that includes unfair shortcuts, unauthorized fees, deception, illegal foreclosures, and other illegal practices. Ocwen will be required to provide $2 billion in loan modification relief to its customers and $125 million in refunds to consumers whose homes were foreclosed. Learn more about what this might mean for you.
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.
We strive to make financial markets work for both consumers and the entities we regulate. Critical to that goal is making sure that businesses – both small and large – have what they need to understand and comply with our new regulations, which are designed both to help consumers and make a fair playing field […]
A message from Director Cordray
Updated on May 22, 2014 Today, in addition to two bulletins putting companies on notice about harmful debt collection practices, we’re also releasing new tools for consumers: Action letters for consumers to consider using in corresponding with debt collectors and debt collection complaints. Many collection firms play by the rules and treat consumers fairly, but […]
Today, we are announcing our new Regulatory Implementation page which consolidates all of our new 2013 mortgage rules and related implementation materials. This is an effort to support rule implementation and ensure that industry is ready to comply with the new borrower protections.
Today, we issued a final rule clarifying and making technical amendments to the 2013 Escrows Final Rule issued by the Bureau this past January. This is the first final rule in connection with our planned issuances to clarify and provide additional guidance about the mortgage rules we issued in January. It is based on a […]
On consumerfinance.gov/es, you can find answers, in plain-language Spanish, to consumers’ most common questions. It’s also our first responsive site – it works beautifully on mobile devices as well as on desktops – in response to research that shows two-thirds of Latinos who are online tend to access the Internet from a mobile device. Read more about our tools in Spanish.
En consumerfinance.gov/es, usted podrá encontrar respuestas a las preguntas más comunes de los consumidores en un lenguaje claro y sencillo. También es nuestro primer sitio web ajustable – ya que funciona muy bien en los teléfonos móviles, así como en los computadores – una investigación indicó que dos tercios de los latinos que están en línea tienden a acceder el internet desde un teléfono móvil. Esto es sólo el comienzo – queremos seguir ampliando para incluir más recursos y herramientas en otros idiomas para que podamos llegar a muchas personas lo más efectivamente que sea posible.
We’re excited to host a twitter chat about older Americans and money on May 9, 2013, from 3-4 p.m. EDT. To participate, tweet questions with the hashtag #MoneyTalk and follow us @CFPB.
Proposed delay in effective date for Regulation Z provision prohibiting financing of credit insurance
In January, we issued several new mortgage rules under the Dodd-Frank Act. Most of these rules take effect in January 2014, but a few provisions are scheduled to take effect on June 1 of this year. This week we issued a proposal that seeks comment on whether to delay the June 1 effective date with […]
Earlier this week, we hosted a Twitter chat along with Kids.gov. Financial experts, authors, and parents joined the #MoneyTalk and shared ideas and resources for talking to kids about money.
Wondering how to talk to your kids about saving and planning for the items they want to purchase? Pin this.
Read our white paper on payday loans and deposit advance products.
The CFPB is carrying out a regulatory implementation initiative for our new mortgage rules to ensure that they are implemented accurately and effectively. Last week we issued proposed clarifications to the 2013 Escrows Final Rule. Today we are issuing another proposal to address questions regarding qualified mortgages and servicing that have come up since we […]
We’re excited to host a twitter chat about talking to kids about money on April 24, 2013, from 2-4 p.m. EDT.
To participate, tweet questions with the hashtag #MoneyTalk and follow us @CFPB.
Today, we issued a proposed rule clarifying and making technical amendments to the 2013 Escrows Final Rule issued by the Bureau this past January. This is the first of our planned issuances to clarify and provide additional guidance about the mortgage rules we issued in January. The proposal has two primary purposes: Maintaining Consumer Protections […]