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Your feedback on Know Before You Owe: Student Loans

Earlier this week, we issued a memorandum to consumers and industry participants who submitted comments on our Know Before You Owe: Student Loans project. We got feedback on almost every aspect of the “financial aid shopping sheet” prototype, and a majority of those who commented said a standardized way of receiving financial aid information is […]


A new tool for protecting the military community

Today, we proudly announced a joint effort with state Attorneys General and the Department of Defense to combat scams directed at servicemembers, veterans, and their families. Recognizing that this population is often targeted by financial scams, we created the Repeat Offenders Against Military Database (ROAM) to track companies and individuals who repeatedly target the military […]

Hearing your stories on payday lending

Today, the Consumer Financial Protection Bureau traveled to Birmingham, Ala., for our first field hearing. We gathered to discuss and collect information on payday lending. The payday lending market is a multi-billion dollar industry in the United States, and Alabama has one of the largest concentrations of payday lenders in the country.

Published Category: At the CFPB

Fulfilling our commitment to diversity

In the months since the CFPB officially opened its doors, the Bureau has been moving at full speed to engage consumers and bring greater transparency to the financial marketplace. We’ve been hard at work building our consumer response system, creating our Know Before You Owe campaigns, and forming a strong foundation for our supervision, examination, […]

Published Category: Policy & Compliance

The CFPB launches its nonbank supervision program

A Beginning Today marks an important step forward for the CFPB as we work to protect consumers. Going forward, the CFPB will expand its bank supervision program (which began last July) to nonbanks, ensuring that banks and nonbanks play by the same rules. Before we get ahead of ourselves, it makes sense to remember what […]

CFPB mortgage complaint system is up and running

The CFPB is accepting mortgage complaints from consumers who have experienced difficulties in the housing market, including problems related to mortgage documents, mortgage servicers, and foreclosure. As most people know, problems in the mortgage industry were a major cause of the 2008 financial crisis. As the nation’s consumer watchdog, the CFPB is here to make […]

Published Category: At the CFPB

Standing up for consumers

Today, I was appointed by President Obama to serve as the first Director of the Consumer Financial Protection Bureau. I am honored by this opportunity to continue my work on behalf of consumers. And I am energized by the responsibilities and challenges facing the Bureau. The importance of this day has less to do with […]