Examination of the potential relationship between rising car prices and larger loan amounts and monthly payments, and the impact of those changes in auto loan characteristics for consumers.
People who were falsely threatened with legal action by the debt collector will receive compensation from the CFPB’s Civil Penalty Fund.
The CFPB recently filed an amicus brief to ensure furnishers follow their obligation to investigate disputes that consumers submit to credit reporting companies.
More than 120,000 consumers will receive checks in the mail after the Consumer Financial Protection Bureau’s enforcement action against USEA for its misleading practices.
We’ve heard from people, specifically older adults, who were defrauded thousands of dollars by scammers claiming to be contacting them from the CFPB. The CFPB will NEVER call you to confirm that you have won a lottery, sweepstakes, class-action lawsuit, or ask you to pay fees or taxes.
Esta semana confirmamos que hay estafadores usando nombres e imágenes de nuestros empleados para robar su dinero. Escuchamos de la gente, específicamente adultos mayores, quienes perdieron miles de dólares por estafadores haciéndose pasar por nosotros en el CFPB.
Consumers, including those with insurance, incur significant charges related to medical care. Nonprofit healthcare providers are required to establish financial assistance policies for consumers who cannot afford services. In this blog, we explore the connection between eligibility for these financial assistance programs and the prevalence of medical collections using our Making Ends Meet Survey.
By gathering better price and availability data for more credit card products and making it publicly available, the CFPB seeks to empower consumers to choose the best card for their unique situation and to encourage issuers to compete more on rates.
As credit card profitability increases, a new analysis looks at why credit card interest rates continue to rise despite historically low charge-offs and cost of funds alongside a stable share of subprime accounts.
Innovations across the payments ecosystem are transforming how people access financial products and services. However, the ease and utility of these services may raise concerns if peoples’ financial data is aggregated and monetized without their full awareness, knowledge, or permission.
Whistleblowers can help the CFPB protect consumers and support the rule of law. The law protects whistleblowers at financial institutions from retaliation.
Housing costs rose rapidly last year but some people feel this inflation more than others. New research shows that low-income renters’ credit card debt increased by nearly 40 percent over the last year, far faster than owners.
Student loan servicers with military borrowers should act quickly to identify and notify military borrowers about the PSLF Limited Waiver before October 31, 2022.
Banks and credit unions should ensure you’re getting timely responses to your banking questions. To help ensure they’re meeting your needs, we’re asking you to share your experiences, good or bad, by August 22, 2022
This blog post examines recent changes in overdraft and NSF fee revenues reported in call reports to understand how announced changes in overdraft policies affected these revenues.
Far too many minority households and businesses continue to lack fair and equitable access to credit. Federal agencies encourage lenders to explore use of special purpose credit programs to better serve historically disadvantaged individuals and communities.
Servicemembers face unique challenges in the financial marketplace. The CFPB is working to protect servicemembers and military families from costly auto loans and wrongful repossessions.
Congress has charged the CFPB with ensuring that markets for consumer financial products are competitive. Over the last year, the CFPB has taken a number of steps to promote competition in our markets.
The CFPB is hiring product managers, designers, engineers, data scientists, and more to help detect and prevent unfair, deceptive, and abusive practices in financial markets.
Beginning on Tuesday, July 5, we’re accepting applications to serve on our four advisory committees, which provide insight and advice as we carry out our work. Applications are due by July 24, 2022. Credit Union Advisory Council, Community Bank Advisory Council, Consumer Advisory Board, Academic Research Council.
Access to credit plays a critical role in financial resiliency, especially during an economic downturn. Credit card companies used credit card line decreases to reduce their credit exposure during the Great Recession and the COVID-19 pandemic. New research explores the impact of credit line decrease decisions on consumers.
The CFPB is working to identify and address the financial needs of immigrant consumers.
The CFPB is seeking public comments about debt that workers take on to pay for trainings, equipment, or other items or services required by their employer.
Markets work best when rules are simple, easy to understand, and easy to enforce. The CFPB is seeking to move away from highly complicated rules that have long been a staple of consumer financial regulation and towards simpler and clearer rules. In addition, the CFPB is dramatically increasing the amount of guidance it is providing to the marketplace, in accordance with the same principles.
Banks and credit unions heavily rely on fees from overdrafts and non-sufficient funds transactions. We’ve launched a supervisory effort to measure the impact of overdraft practices on consumers.
