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Published Category: At the CFPB

Continuing our promise of diversity

Today is my first day as the Director of the Office of Minority and Women Inclusion at the CFPB. I’m coming to the CFPB after serving nine years at the U.S. Equal Employment Opportunity Commission (Commission). There I worked to protect the public from unlawful discrimination and harassment in all work situations.

I came to the CFPB because I know this is a place that shares those same values. Here we have a team that understands that to help all consumers we need to have a wide range of perspectives in-house. Our Office of Minority and Women Inclusion will work to ensure that diversity and inclusion are more than just considerations; they are defining standards for the work we do.

Published Category: Info for consumers

Accountability in military education

On April 27th, the President signs an executive order instructing several departments to take steps to ensure that servicemembers, veterans and their families can get information they need about the schools where they spend their education benefits. His directive also strengthens oversight and accountability of the schools that offer educational programs to the military. We applaud this effort.

Read more from Holly Petraeus about the need for this executive order and our work on military education issues.

Published Category: Info for consumers

Taking your kids to work is a great time to talk about money

My kids were so excited when I asked them if they wanted to come to work with me today. At ages 6 and 9, this will be their first Take Our Daughters and Sons to Work Day. The CFPB is focused on consumer financial products and services, so we are using today to teach our children about personal finances – our theme is Spend Save Share.

This is also a good opportunity for all parents to teach their children a little something about money. It’s a chance to talk about how parents work for money, and how our salaries give us a limited amount of money to spend every month. Parents can also talk about how they have to use some of that money to pay for the family’s needs, like food, clothing and shelter, and how we might have to save for other things we want.

Join us in Cleveland and New York: We’re recruiting a 21st century supervision workforce

Since we opened for business on July 21, 2011, we have been building our supervision team.

On Friday, April 27 in Cleveland and Friday, May 4 in New York, learn from senior CFPB leadership about the work of our supervision team, and explore joining us. Read more.

Published Category: Policy & Compliance

Comment period on overdrafts extended to June 29

In February, we launched a public inquiry and an industry research study to gain insight into overdraft practices. Both initiatives are continuing and will provide us with great perspective on how overdraft programs work. The Notice and Request for Information originally called for all public comments by the end of this month. While we’ve already […]

Published Category: Policy & Compliance

Fair Notice on Fair Lending

Millions of Americans rely on loans and other credit products to attend college, buy cars, purchase homes, or open businesses. For many of us, access to credit makes it possible to achieve the American Dream of a better life for ourselves and our children. All too often, credit discrimination stands in the way of this access. It keeps worthy borrowers from the tools they need to reach their financial goals.

Credit discrimination is illegal. The Consumer Financial Protection Bureau is responsible for enforcing the Equal Credit Opportunity Act. The Office of Fair Lending and Equal Opportunity at the CFPB helps ensure that all Americans have fair, equitable, and nondiscriminatory access to credit, and we will use every tool at our disposal to protect American consumers. Learn more.

Published Category: At the CFPB

Something Good in Memphis

Last week, I had the good fortune to spend two full days in Memphis, Tennessee, with my friend and colleague, Holly Petraeus, who heads the CFPB’s Office of Servicemember Affairs. I was in Memphis because of a great organization called RISE, whose name stands for embracing responsibility, initiative, solutions and empowerment. It is one of […]

Published Category: Info for consumers

Paying for College: Help us make it easier for you to choose

April is a time when students and their families anxiously await their college acceptance letters. But for families across the country, the good news of getting into college isn’t the end of the anxiety. Figuring out how to finance a college education can also be daunting. We want to find a way to make it […]

Published Category: Policy & Compliance

What the proposed mortgage servicing rules could mean for you

Delinquencies. Defaults. Foreclosures. Let’s face it: before the housing crisis, these and many other terms were foreign to many of us. Since 2008, however, they’ve become much more commonplace across America. There’s no doubt that the mortgage servicing market can be confusing for the average consumer to understand and navigate. And it’s even more overwhelming […]