The CFPB is beginning a new system of Consumer Financial Protection Circulars to provide guidance to enforcers of federal consumer financial law and to increase transparency for the public and regulated entities.
Financial institutions have responsibilities to serve their communities, including communities that predominantly speak languages other than English. To help them serve their customers, we provide Spanish translations of disclosures.
The CFPB recently filed two amicus briefs to ensure that credit reporting companies and furnishers follow their legal responsibilities with respect to accuracy in consumer reports.
It is a myth that student loans are not dischargeable in bankruptcy. Some private student loans require a showing of “undue hardship” and an adversary proceeding within the bankruptcy in order for the loans to be discharged, while other types of student loans are treated the same as other unsecured consumer debt.
This report describes our fair lending activities in supervision, enforcement, guidance and rulemaking, interagency coordination, and outreach and education for calendar year 2020.
I am pleased to announce that the Bureau has published the “Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency.” The Statement provides principles and guidelines to inform and assist financial institutions seeking to better serve LEP consumers in non-English languages.
Better clarity regarding the treatment of MSAs under RESPA Section 8. The Bureau remains committed to vigorous enforcement of RESPA Section 8.
The Bureau released FAQs for industry that will help ensure that consumers affected by COVID-19 receive the credit reporting protections required by the CARES Act amendments to the FCRA.
The Bureau is committed to ensuring fair, equitable, and nondiscriminatory access to credit for both individuals and communities. This report describes our fair lending activities in innovation, outreach, prioritization, guidance and rulemaking, supervision, and enforcement for calendar year 2019.
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 […]
Today, you have new rights if you send money to family or others outside the United States. These protections come from a new rule that applies to electronic money transfers sent by consumers in the United States to people or businesses in other countries. In general, the rule covers transfers sent by companies – such […]
We strive to make financial markets work for both consumers and the entities we regulate. Critical to that goal is making sure that businesses – both small and large – have what they need to understand and comply with our new regulations, which are designed both to help consumers and make a fair playing field […]
Banks, credit unions, and other financial services providers are concerned with compliance costs – how much it costs to comply with financial regulations – and we’re interested as well. Regulations can have many benefits for consumers, but the benefits sometimes come at a cost. What we want to know What are the extent and nature […]
Updated on August 8, 2013: The remittance rule goes into effect October 28, 2013. Visit the remittance rule page for additional information regarding the rule including the most recent updates. The compliance guide announced on this blog post is now out of date. Please see the remittance rule page for the latest version. Update November […]