Skip to main content

Blog

Category
Date range
34 filtered results
Category: Data, research, and reports |
Published

New research shows online payday loan borrowers rack up steep fees

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. 

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

Three things to do before closing: What we learned from studying eClosing

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.

Category: At the CFPB |
Published

Spring 2015 rulemaking agenda

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.

Category: Data, research, and reports |
Published

We took a look at arbitration agreements and here’s what we found

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.

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

Nearly half of mortgage borrowers don’t shop around when they buy a home

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.

Category: Data, research, and reports |
Published

Sunshine for college credit card agreements

Today, we’re releasing a report that looks at deals between financial institutions and colleges to market credit cards to students. This year we found that there are fewer schools marketing credit cards, and those that do are not making their agreements with credit card companies readily accessible to students.

Category: Policy and compliance | Category: At the CFPB |
Published

Evaluating ways to promote regular saving habits among prepaid card users

We believe that consumers are more likely to save if they have access to the right tools. Today, we’re announcing that, as part of Project Catalyst, we’ll be working with American Express to evaluate practices to promote regular saving habits among prepaid card users.

Category: Data, research, and reports |
Published

New Project Catalyst research pilot to study early intervention credit counseling

We’re announcing a research pilot aimed at assessing the potential impact of early intervention credit counseling. We know that defaulting on credit card debt is a very stressful event for anyone and impacts consumers’ ability to access credit in the future. We’d like to use this opportunity to explore what ways may help consumers better manage their credit card debt and avoid default.

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.