Blog

We are accepting applications for membership on our Academic Research Council (ARC).

We recently released a study about payments for online payday loans and other high-cost online loans and their effects on consumers. We found that online lenders’ repeated attempts to debit payments from a borrower’s checking account add significant costs to online payday loans. 

We are looking to fill three additional seats on the Academic Research Council in 2016. The ARC was created as a technical advisory body of scholars to make sure that we hear from a variety of experts with diverse viewpoints, knowledge, and expertise.

Today we’re releasing the results of a pilot program where we explored tools and process changes that can help consumers better navigate closing by accessing and signing their closing documents in different ways. Specifically, we examined what would happen if there was more technology involved in the mortgage closing process, with documents being delivered electronically earlier together with online tools and resources. The electronic delivery and signing of closing documents using electronic signatures is sometimes referred to as eClosing.

An important part of our mandate is to make rules more effective and create new rules when necessary. Today, we’re posting a semi-annual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Join us for the CFPB Research Conference on May 7-8, 2015. The conference will be focused on high-quality consumer finance research, with academic and government researchers presenting their research papers.

During this meeting, we’ll discuss trends in consumer finance research, the activities of consumer financial protection agencies in other countries, and recent publications produced by CFPB’s Office of Research.

Join us for a Community Bank Advisory Council meeting with Director Cordray where we will discuss credit scores and credit reporting and implications for community banks.

Tens of millions of consumers use financial products or services like credit cards and student loans that include pre-dispute arbitration clauses in their agreements. These clauses can require disputes be resolved through arbitration, rather than through the court system. Since 2012, we’ve being working on a study of arbitration provisions and report to Congress. Here’s what we learned and why it matters.

We shop to find the best price for laptops or appliances, but a report of recent mortgage borrowers found that almost half of us don’t shop around for a mortgage when we buy a home. Failing to shop for a mortgage could cost you. Consumers who consider interest rates offered by multiple lenders or brokers may see substantial differences in the rates. Our report sheds light on consumer behavior, and we have tools that can help.