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Category: Data, research, and reports |
Published

Protecting consumers and encouraging innovation: 2019 Fair Lending Report to Congress

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.

Category: Info for consumers |
Published

Technology is changing how people access their financial records. Share your story.
Archived

Many new financial innovations rely on people choosing to give a company access to their digital financial records held by another company. If you’re using these kinds of services, we’d love to hear from you. Make your voice heard.

Category: Policy and compliance |
Published

We’re open to innovative approaches to benefit consumers
Archived

Take a look around and you’ll see that the consumer financial marketplace is experiencing constant and rapid change. New technologies and insights can impact the way we borrow, save, transact, and receive information we need about finances. This environment can pose benefits and risks to consumers. Consumer-friendly innovation can drive down costs, improve transparency, and make people’s lives better. On the other hand, new products can also pose unexpected risks to consumers through dangers such as hidden costs or confusing terms.

Category: Data, research, and reports |
Published

New Project Catalyst research pilot to study early intervention credit counseling
Archived

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: Policy and compliance |
Published

Disclosures: A new avenue for improvement
Archived

We have finalized a new trial disclosure policy, which allows companies to apply for a waiver to test potential disclosure improvements on a trial basis. The new policy is one more tool at our disposal, which is good news for consumers and companies. The tests will provide us with data that will help inform improvements to disclosure rules.

Category: Policy and compliance |
Published

An update on trial disclosures
Archived

Yesterday, we made a significant update to our proposed policy to encourage trial disclosure programs, which allow companies, on a trial basis, to test disclosures that may work better for consumers and companies. Data from the trial program would then help us determine if the proposed innovation works better than the status quo. We are inviting comments on Section A of the revised proposed policy, which describes the information companies should submit to us for their proposals. This comment process lasts 30 days, until July 18.

Thanks to your feedback and discussions with stakeholders, we’ve made some important revisions and clarifications to the proposed policy

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

Project Catalyst develops portfolio to support innovation
Archived

The initiatives announced at the start of Project Catalyst are gaining early traction. In November 2012 in Mountain View, Calif., we launched Project Catalyst, a program to support the creation and growth of innovative consumer financial products and services. The pilot collaborations we announced at our November launch have been actively moving forward.

Category: At the CFPB |
Published

Watch live, Mountain View, CA!
Archived

We were in Mountain View, CA for the launch of Project Catalyst. The live event has ended. CFPB Director Richard Cordray announced the launch of Project Catalyst to encourage consumer-friendly innovation. You can read CFPB Director Cordray’s remarks. If you missed the event, you can watch below: