Access to credit plays a critical role in financial resiliency, especially during an economic downturn. Credit card companies used credit card line decreases to reduce their credit exposure during the Great Recession and the COVID-19 pandemic. New research explores the impact of credit line decrease decisions on consumers.
Our research shows that credit card companies are suppressing data and information on exact payment amounts repaid by borrowers. A new letter to the CEOs seeks to find out why.
As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices.
Nararamdaman ng maraming tahanan dito sa Estados Unidos ang mas mataas na presyo ng mga bilihin. Habang maraming mga indibidwal pati pamilya ay nag-aadjust ng kanilang mga budget, may ibang mga singil na wari ay mahirap iwasan – mga lihim na singil. Nais makarinig ang CFPB galing sa inyo kung paano kayo naaapektuhan ng mga lihim na singil.
미국 전역의 가계에서는 더 높아진 가격을 체감하고 있습니다. 개인 및 가족들이 팍팍해지는 주머니 사정에 적응해 나가는데 피할 수 없는 수수료인 정크 수수료가 있습니다. CFPB에서는 이 정크 수수료가 일상적인 재정 생활에 어떤 영향을 미치는지 의견을 듣고 싶습니다.
Households across the U.S. have been feeling the cost of higher prices. As individuals and families adjust to the pinch on pocketbooks there are some fees they just can’t seem to escape – junk fees. The CFPB wants to hear from you on how junk fees have impacted your everyday financial lives.
Los hogares de los EE. UU. han estado sintiendo el costo de los precios más altos. A medida que las personas y las familias se acostumbran a apretarse el cinturón, hay algunas tarifas que no parecen poder evitar: las tarifas inesperadas. El CFPB quiere saber cómo las tarifas inesperadas han impactado su vida financiera cotidiana.
كانت وتظل الأسر على مستوى الولايات المتحدة تشعر بتكلفة الأسعار المرتفعة، ومع قيام الأفراد والعائلات بتكييف أحوالهم المالية لهذه التكلفة الملقاة عليهم إلا أن ثمة بعض الرسوم لا يمكنهم الفرار منها – وهي ما تسمى بالرسوم المفاجئة وغير المتوقعة. وعليه فإن مكتب الحماية المالية للمستهلكين CFPB يريد السماع منكم عن مدى تأثير تلك الرسوم المفاجئة وغير المتوقعة على حياتكم المالية اليومية.
全美各地的家庭都感受到了價格上漲的壓力。 隨著個人和家庭適應錢包的緊縮，他們似乎無法逃避一些費用 — 垃圾費。消費者金融保護局（CFPB）希望聽取您的意見，瞭解垃圾費如何影響您的日常財務生活。
Các hộ gia đình trên khắp Hoa Kỳ đang bị ảnh hưởng bởi giá chi phí cao. Khi các cá nhân và gia đình dần thích nghi với chi phí cao, nhưng có một số khoản phí mà họ dường như không thể thoát được là phụ phí. CFPB muốn nghe ý kiến của quý vị về sự ảnh hưởng của các khoản phí phụ đến tài chính hàng ngày của quý vị. Dịch vụ ngân hàng, thẻ tín dụng, tình trạng tài chính, phí hoàn thành giao dịch vay thế chấp, thẻ trả trước, phí chuyển tiền
From 2018 to 2020, the CFPB estimates that Americans paid roughly $120 billion per year in credit card interest and fees. That works out to about $1,000 per year for every American household.
New analysis in our Making Ends Meet survey series shows that consumers’ finances improved during the pandemic as pandemic policies kept consumers who lost their jobs from suffering financial hardship. But some pandemic-related flexibilities and forbearance programs failed to reach many consumers facing hardship.
If you have an adjustable-rate mortgage, reverse mortgage, HELOC, student loan, or credit card, your interest rate may be based on the LIBOR index, which is being discontinued. Here’s how to stay vigilant of changes to your index.
Credit access declined during the pandemic for credit cards, but increased for mortgages and auto loans
This post is the fifth in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Access to new credit cards has decreased, but access to mortgages and auto loans has increased since the start of the pandemic.
This post is the fourth in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Credit card limits stagnated or declined for most credit score groups early in the pandemic, but have been rising in recent months. Despite a spike in accounts closed by creditors at the start of the pandemic, accounts are not being closed at unusual rates.
This post is the third in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. The economic disruption of the pandemic does not appear to have caused consumers to run up large credit card balances. The opposite seems to be the case, since April 2020, credit card balances and utilization rates have continued to decline, and the share of credit card borrowers that carry a balance rather than pay in full have also declined.
This post is the second in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.
New Bureau research examines consumer credit trends through April 2021, finding little increase in delinquencies on credit cards, auto loans, mortgages, and student loans during COVID-19. Delinquency rates also remain lower than pre-pandemic levels, likely as a result of public and private interventions.
A new analysis in our Making Ends Meet survey series looks at how consumers use payday, auto title, and pawn loans. Use of these loans is persistent from year to year. Some consumers of these loans have lower cost credit available, while others lack access to other credit.
In this update to our May 2020 report examining the effects of the COVID-19 Pandemic on credit applications, we find that credit card inquiries were still 30 percent below their pre-pandemic levels in September, while auto loans were depressed by 20 percent.
We use the Bureau’s Making Ends Meet survey to study whether financially vulnerable consumers have turned to credit card debt during the coronavirus pandemic. We find that credit card debt fell even for consumers who were financially vulnerable before the pandemic.
This report explores the prevalence of actual payment information in consumer credit reporting. Quarterly Consumer credit trends reports focus on a specific consumer financial product or issue using a longitudinal, nationally representative sample of de-identified credit records maintained by a nationwide consumer reporting agency.
If you can’t pay your credit card bill because of the coronavirus pandemic, call your credit card company and ask about financial relief. We have tips on what to ask and what your options may be.
La deuda de tarjeta de crédito durante la pandemia del coronavirus: opciones de alivio y consejos para manejarla
Si debido a la pandemia del coronavirus no puede pagar su tarjeta de crédito, llame a la compañía emisora y pregunte si cuentan con alivio financiero. Le ofrecemos consejos sobre qué preguntarles y cuáles pueden ser sus opciones.
Tips for staying on top of your finances during the coronavirus pandemic, particularly if you’ve dodged income loss or major expenses.