In the past five years, we have written rules, enforced laws and, supervised banks and other financial companies, while at the same time creating resources to educate and engage you to make informed choices with your finances.
We’re recruiting examiners – our “boots on the ground” within our supervision team – to work daily with large banks and nonbank companies to ensure compliance with consumer financial protection laws and to promote a market for fair, transparent, and competitive consumer financial products and services. Apply before midnight on Friday, March 22. Our consumer-centered […]
Today we’re announcing the reorganization of our Headquarters staff for Supervision. We will continue having two Supervision offices at Headquarters, but now we will have one focusing on examinations and one focusing on policy. This realignment is consistent with our mission to protect consumers across financial services markets without regard to the charter of the […]
If you’re having trouble paying your mortgage, we can help you get connected to a HUD-approved housing counselor at no cost to you. The counselor can help you work with your servicer or lender to try to avoid foreclosure, organize your finances, understand your mortgage options, and find a solution that works for you.
For the first time, consumer reporting agencies will be subject to a federal supervision program. We made the announcement at a field hearing in Detroit, which we streamed right here. You can watch footage from the event here, featuring remarks from Richard Cordray, CFPB Director, as well as testimony from consumer groups, academics, industry representatives, and members of the public. You can also…
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.
Yesterday, Director Cordray kicked off our field hearing on payday lending in Birmingham, Ala., by explaining why he was there and what the Bureau wants to learn from consumers about payday loans.
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.
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 […]
Today, the CFPB released the CFPB Supervision and Examination Manual, the guide for our examiners to use in overseeing companies that provide consumer financial products and services.