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Category: Data, research, and reports |
Published

Aggregate credit card borrowing exhibits end-of-year seasonal patterns which vary across different sets of consumers

This report finds that aggregate end-of-year consumer credit card borrowing roughly follows end-of-year retail expenditure patterns, with consumer borrowing experiences differing across consumers with different credit scores and different credit card utilization rates at baseline. 

Category: Data, research, and reports |
Published
Consumer market trends

Removal of public records has little effect on consumers’ credit scores

The National Consumer Assistance Plan (NCAP) was launched in March 2015 by the three nationwide credit reporting companies in response to a multi-state settlement. In this report, we explore how the removal of public records resulting from the NCAP affected consumers' credit records and their credit scores.

Category: Data, research, and reports |
Published

Understanding Consumer Experiences: Insights from CFPB’s 2016 Consumer Response Annual Report

We recently published our Consumer Response Annual Report, which provides an overview of the complaints we received in 2016. 

Category: Data, research, and reports |
Published

HMDA data shows more people took out a mortgage to purchase a home in 2014 than 2013

As part of our work to educate consumers to make informed financial decisions, we at the CFPB—along with the other members of the FFIEC—are committed to making HMDA data clear and available to you. Bringing transparency to the mortgage market can lead to the greater likelihood that similarly situated consumers receive similar loan terms.

Category: Data, research, and reports |
Published

Your complaint is more than data—it’s your story

While you can see hundreds of thousands of complaints in the Consumer Complaint Database, these complaints are much more than just data to us. They reflect real and tough challenges people face every day as they try to navigate the financial world. Now we’re giving you the choice to publish your story in our Consumer Complaint Database and help others see what’s happening in the financial marketplace. Learn more about how we’re lifting your voice.

Category: At the CFPB | Category: Data, research, and reports |
Published

We participated in the National Day of Civic Hacking (again)

During the event, we participated and watched representatives from traditionally disconnected groups work together on some of the most pressing issues facing the local and federal government. We asked participants to analyze our public Consumer Complaint Database and our Home Mortgage Disclosure Act Database.

Category: Info for consumers |
Published

Explainer: Federal student loan interest rates to jump

While rates aren’t set in stone yet, interest rates on new federal student loans are expected to jump this July. We’ve updated our Paying for College tool using our best guess of what the rates will be, so you can have a better estimate of what your monthly payment might be after graduation.

Category: Policy and compliance |
Published

New feedback system for GI Bill and Tuition Assistance recipients

Today, the CFPB is very pleased to join the Departments of Veterans Affairs, Defense, Education, and Justice, as well as the Federal Trade Commission, in announcing a new online student complaint system where servicemembers, veterans, and their families can report negative experiences at education institutions and training programs administering the Post-9/11 GI Bill, DoD Military Tuition Assistance, and other military-related education benefit programs.

Category: Data, research, and reports |
Published

Our new mortgage visualization tool

Today, we’re launching a set of web-based tools to provide consumers with easier access to public HMDA data. We’re excited to see what you do, and encourage you – whether you’re a consumer, researcher, developer, or company – to explore the data using these new tools.

Category: Data, research, and reports | Category: Info for consumers |
Published

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 […]

Category: At the CFPB | Category: Info for consumers |
Published

Sharing consumer complaint data with state agencies

We help consumers with complaints about credit cards, mortgages, student loans, checking accounts, savings accounts, credit reporting, bank services, and other consumer loans. Today, we’re announcing plans to share data from those complaints with state regulatory agencies. This way, multiple government agencies can work on the consumer’s behalf without them having to file complaints with […]

Category: Data, research, and reports |
Published

Updates to the consumer complaint database

We’re excited to announce that we’re no longer in beta with our consumer complaint database. We launched the beta version on June 19th publishing individual-level consumer complaint data — a first for a federal financial regulator. Since that time, people have been evaluating and sharing the data on social media and in new apps. Today, […]

Category: At the CFPB | Category: Info for consumers |
Published

Pushing forward on the CFPB’s financial aid comparison tool

This past year, we’ve been working with the Department of Education on a project to help colleges provide clear and comparable financial aid information. Over the course of that project, we learned that more standard information could spur the innovation of apps and digital tools to allow students to better understand their decision to take […]

Category: At the CFPB |
Published

Design+Technology Fellows: Changing the way government works

Technology and innovation are fundamental to the ability of this 21st-century agency to achieve our consumer protection mission. That’s why we’re launching an outside-the-box technology hiring initiative – the Design+Technology Fellows program.

What is it? We’re asking the brightest, diverse, most amazing minds in graphic design, development, and user experience (UX) to join us for two years, linking up with our divisions to create innovative products that will redefine how work gets done in consumer financial protection.

Learn more.
Apply for a Design+Technology Fellowship.

Category: Info for consumers |
Published

Protecting Older Americans from financial abuse

We took an important step today towards looking out for older American consumers. Director Richard Cordray announced a public inquiry to learn more about the many ways in which older Americans are financially exploited and about the best practices for elder financial management.

We want to hear from you – especially those of you working directly with seniors – about these issues. How can seniors best determine the legitimacy of the credentials of financial planners and advisors? What information do you have on what financial education, counseling, or management programs are tailored to the unique needs of older Americans, their families, and their caregivers? Tell us what you think.

Category: Data, research, and reports | Category: Info for consumers |
Published

Thousands of voices on private student loans

This past winter, we issued a Request for Information to hear about people’s experiences with private student loans. We have now published the nearly 2,000 comments we received in reply.

The Dodd-Frank Act also requires the Bureau to analyze private student loan borrower complaints and offer recommendations to the Treasury Secretary, Education Secretary, and Congress. To help us get a more complete picture of the issues, we are now issuing a Request for Information about private student loan complaints. We have also asked state and local officials and advocacy groups to share what they have learned.

Learn more about our work for student borrowers.