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Category: Info for consumers |
Published

Going virtual with your financial consultations during the Coronavirus emergency

As Americans face financial uncertainty, financial coaching and financial counseling can play an important role in helping people make informed decisions. At the same time, financial practitioners are having to adapt to working remotely with their clients. We have tips to help you go virtual.

Category: Data, research, and reports |
Published

Promising practices and lessons learned for Child Savings Account programs

The Bureau is engaged in building the capacity of child savings programs by releasing four briefs geared toward institutions and communities interested in starting, or expanding child savings opportunities.

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

How we keep you safe in the consumer financial marketplace

The CFPB works to create a level playing field in financial markets and to help ensure fairness for consumers. Our SEFL division helps ensure compliance with federal consumer financial laws by supervising market participants and bringing enforcement actions when appropriate. 

Category: Policy and compliance |
Published

Fall 2015 rulemaking agenda

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Category: Policy and compliance |
Published

We’re suing a robo-call debt collector

Today we’re announcing that we filed a lawsuit against a robo-call debt collection operation, including its ringleaders, their companies, and service providers. The debt collectors allegedly sent millions of robo-calls to threaten, harass, and deceive consumers to collect debt that consumers do not owe, or were not owed to the debt collectors themselves. The complaint alleges that the scheme depended on the participation of the telemarketing company that sent the robo-calls and the payment processors that allowed the collectors to access consumers’ bank accounts.

Category: Policy and compliance |
Published

Our proposed rule on student loan servicers

In case you missed it, yesterday Director Cordray announced our proposed rule on student loan servicers. As so many families are all too aware, the cost of higher education has been steadily rising in recent years. As a result of these rising costs, more consumers need loans in order to afford college. By the end […]

Category: Policy and compliance | Category: Info for consumers |
Published

So how many consumer reporting companies are there?

You may know about the three biggest nationwide credit reporting companies: Experian, Equifax, and TransUnion. But did you know that there are other companies out there that may be providing reports on you that could be used to decide if you’re eligible for consumer financial, insurance, medical and other products? Today the CFPB is posting […]

Category: Policy and compliance |
Published

The CFPB launches its nonbank supervision program

A Beginning Today marks an important step forward for the CFPB as we work to protect consumers. Going forward, the CFPB will expand its bank supervision program (which began last July) to nonbanks, ensuring that banks and nonbanks play by the same rules. Before we get ahead of ourselves, it makes sense to remember what […]

Category: Policy and compliance |
Published

Reaching out for Input: Help Us Define “Larger Participants.”

Today and tomorrow, we will be meeting with nearly 100 organizations from across the country to hear their views about an important building block for our nonbank supervision program. These groups represent a wide range of interests: consumers, nonbank financial services providers, depository institutions, and others. From the very start, we have made it a […]

Category: Policy and compliance |
Published

Explainer: What is a nonbank, and what makes one “larger”?

Dear CFPB, I noticed you posted a request for public comments on “larger participants” for your “nonbank supervision” program. I don’t understand what this is about. I know what a bank is – I walk past one every day on my way to work – but what is a nonbank? And larger than what, anyway? […]