The ARC was created to make sure that we hear from a variety of experts with diverse viewpoints, knowledge, and expertise.
Today, we’re accepting applications for membership on all of our advisory groups.
Today, I want to share with you the CFPB Ombudsman’s second annual report, which I delivered to the CFPB Director. The report describes how the Ombudsman’s Office informally assisted consumers and companies in resolving issues with the CFPB this year. What’s new? In this report, you’ll find an update on last year’s systemic recommendations to […]
Today, we’re releasing findings from a study we conducted on the operational effects of certain regulations for banks, in order to better understand the day-to-day activities they perform to comply with regulations. We chose a narrow scope for the study, in the expectation that depth over breadth would create findings of lasting value. We looked […]
Releasing complaint data about credit cards, mortgages, student loans, bank accounts, services, and other consumer loans
What are you going to make with #CFPBdata? Last summer, we launched our Consumer Complaint Database featuring data about credit card complaints. Today, based on feedback from the public, we’re expanding it – and increasing the number of complaints from about 19,000 to more than 90,000. Here’s what we’re adding data about: Mortgage complaints submitted […]
Last month, we released a report to Congress with the Department of Education on the private student market. This report helped shed light on how the private student loan market works and where there are opportunities for improvement. When we design a form or develop a regulation, we work to gather continuous feedback. The same […]
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…
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on checking your credit score at least once a year.
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 […]
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 […]
The CFPB is building an Office of Research to support its commitment to evidence-based policymaking. The research office will produce new findings that deepen our understanding of the problems that consumers, firms, and markets encounter. It will also help the CFPB conduct rigorous policy evaluations, which in turn will help maximize our effectiveness in addressing […]