Each May as we celebrate Memorial Day, our nation takes a moment to remember all of the brave men and women who died in service to our country. Memorial Day was first initiated as a day of remembrance for fallen soldiers during the Civil War but today it serves as a day to honor all servicemembers who lost their lives while serving in America’s conflicts. We will always be mindful of their great sacrifice as we continue to serve the American consumer and those who wear, or have worn, the uniform for our country.
We would be hard pressed to ensure that markets for consumer financial products and services are fair, transparent and competitive without the trust of citizens and financial institutions in our work. To build and protect that trust, we are working to establish a strong ethics and compliance program.
On May 23rd, we visited Durham, NC, to hold a field hearing on general purpose reloadable prepaid cards, commonly known as prepaid cards. In concert with the hearing, we announced a new Advance Notice of Proposed Rulemaking (ANPR) on this rapidly growing market.
Last week, I joined the Consumer Financial Protection Bureau as Assistant Director of the Office of Financial Empowerment, which is part of our Division of Consumer Education and Engagement. We share a common goal with our colleagues across the Bureau: to protect and empower all consumers. The Office of Financial Empowerment has a special focus […]
The Consumer Financial Protection Bureau (CFPB) invites you to participate in a field hearing in Durham, North Carolina on prepaid cards.
The field hearing will take place on Wednesday, May 23, 2012, at 12:00 noon in the Junior Ballroom of the Durham Convention Center, 301 West Morgan Street, Durham, NC.
We are receiving inquiries from consumers about phone calls about a sweepstakes offer from the CFPB. The CFPB did not make these calls or direct others to make these phone calls on our behalf. These phone calls may be malicious. To minimize the risk this type of call may present, we suggest if you receive […]
There are certain occasions in everyone’s life when one decision can have long-lasting effects. How will you pay for college? Which mortgage should you choose? Where will you turn when you need credit? When will you start saving for retirement? How you answer these questions and others like them can profoundly impact your financial future. […]
A few weeks ago, the CFPB released an early prototype of a new tool to help students and families make smarter choices about financing college. The CFPB recognizes that we can develop better products and policy with the help of the public. Already, we’ve heard from so many participants about what’s working well and what […]
This post also appears on the Department of the Treasury blog. Our military families make many sacrifices for our nation, and not just when a servicemember goes into combat. Military families also face challenges when a servicemember receives orders for a Permanent Change of Station (PCS) move to another base, and the family has to […]