Mortgage borrowers are paying around $100 a month more depending on which lender they choose, for the same type of loan and the same consumer characteristics (such as credit score and downpayment)
The CFPB is exploring long-term solutions to move away from single points of failure, ensure system resilience, and eliminate unnecessary complexity in rulemaking.
In April, the nationwide credit reporting companies – Equifax, Experian, and TransUnion – took action to remove medical collections already paid, under $500 or less than a year old from consumer credit reports. If you’re one of the millions of people with medical debt, here’s what you should know.
More than 6,500 consumers who were misled by false promises and paid fees to Burlington Financial Group will receive checks in the mail this month from the CFPB’s Civil Penalty Fund.
A commonly used interest rate index officially ends on June 30, 2023. If you have an adjustable-rate loan, you might receive a notice from your lender or servicer about switching to another index. Here’s what that means for you.
If you are on active duty (including an activated reservist) or a member of the National Guard, you can sign up for free electronic credit monitoring from all three major credit reporting companies to ensure your credit report is accurate and up to date.
Help is available for homeowners who took out second mortgages years ago, and believed their loans were either forgiven or modified into a single loan, and now are being targeted by debt collectors threatening foreclosure.
Creditors can obtain civil judgments to seize assets and garnish wages for unpaid debts. New research show that civil judgments are 20 times more common in some states than others and are more common in areas with a higher percentage of Black residents. Civil judgments are twice as common as bankruptcies.
Credit cards are one of the most common financial products in our country, providing the bulk of short-term credit for families. Interest rates on credit cards have risen substantially, with average interest rates going over 20%. Given the trends for the 175 million Americans with credit cards, the CFPB estimates that outstanding credit card debt may continue to set records and could even hit $1 trillion.
This week, we filed a Statement of Interest to protect people from discriminatory targeting.
More than 78,000 consumers harmed by College Financial Advisory and Student Financial Resource Center will receive checks in the mail this month.
The CFPB is seeking public input on the full scope and breadth of data brokers and their business practice, including the impact on consumers’ daily lives, and whether they are all playing by the same rules.
Consumidores afectados por GST Factoring, Inc., Champion Marketing Solutions, Amanda Johnson, David Mize, Jacob Slaughter, y Daniel Ruggiero, recibirán dinero de nuestro Fondo de Penalidades Civiles
In 2020, the CFPB filed a complaint against student-loan debt-relief companies, their owners, and attorneys for charging illegal upfront fees to thousands of consumers saddled with private student-loan debt.
The CFPB is convening government enforcers – including federal agencies, state attorneys general, and state insurance commissioners – to sharpen our combined efforts to protect consumers as technology reshapes the financial marketplace.
This week, the CFPB filed a joint Statement of Interest with the Department of Justice to protect homebuyers and homeowners from discriminatory home appraisals.
The CFPB issued a standard Request for Information on the economic impact of mortgage loan originator rules on small mortgage companies as part of a mandated 10-year review.
The CFPB and the FTC want to hear about challenges you’ve faced because of rental background checks
La CFPB y la FTC quieren saber cuáles retos ha enfrentado por las revisiones de antecedentes de inquilinos.
The Independent Community Bankers of America has filed an application to create an alternative mortgage disclosure to improve understanding and facilitation of construction loans. The application is open to the public and available for comment through March 29, 2023
Hasta el 29 de marzo del 2023 pueden ser enviados los comentarios públicos para crear una declaración hipotecaria alternativa que mejore el entendimiento y facilitación de préstamos a la construcción.
Today the CFPB finalized an update to our procedural rule regarding administrative adjudication.
We are piloting a new collection of auto data. As part of that effort, we issued orders to nine large auto lenders to provide information about their auto lending portfolio. Through this effort we will be better able to monitor the auto market and plan to share results with the public.
We requested information from the largest credit card companies about why actual payment information has largely gone missing from the nationwide consumer reporting system. Here’s what we learned.
Las compañías emisoras de tarjetas de crédito no están reportando sus datos reales de pagos a las empresas nacionales de informes de crédito. Preguntamos el por qué, y le mostramos lo que descubrimos.
