Piloting disclosures for construction loans
Individual lenders can apply to enroll in a testing pilot of alternative, tailored disclosures for construction loans designed to improve consumer understanding of loan terms and costs.
Blog
Promoting Competition in Our Financial Markets
Congress has charged the CFPB with ensuring that markets for consumer financial products are competitive. Over the last year, the CFPB has taken a number of steps to promote competition in our markets.
The Bureau continues to fight to help alleviate housing insecurity through its Tech Sprint Program
As part of CFPB’s continued effort to combat housing insecurity and promote racial equity, the Bureau is partnering with the Department of Housing and Urban Development to lead a tech sprint on post-pandemic housing challenges.
Innovation and collaboration: Tech sprints support improvements in consumer notifications and data collection and processing
CFPB releases results from its first tech sprints to identify innovations and improvements in the way we use technology to create transparent, equitable, and fair financial markets.
CFPB’s first tech sprint on October 5-9, 2020: Help improve consumer adverse action notices
The Consumer Financial Protection Bureau announced its first Tech Sprint to reduce regulatory burden and improve consumer understanding of financial services.
Innovation spotlight: Providing adverse action notices when using AI/ML models
Spotlight on providing adverse action notices under the Equal Credit Opportunity Act and the Fair Credit Reporting Act when using machine learning and other artificial intelligence models.
Protecting consumers and encouraging innovation: 2019 Fair Lending Report to Congress
This report describes our fair lending activities in innovation, outreach, prioritization, guidance and rulemaking, supervision, and enforcement for calendar year 2019.
An update on credit access and the Bureau’s first No-Action Letter
An update on results provided under the Bureau’s No-Action Letter on alternative data and machine learning.
CFPB Office of Innovation proposes “disclosure sandbox” for companies to test new ways to inform consumers
The Bureau’s new Office of Innovation is proposing a “Disclosure Sandbox” to give companies leeway to test new disclosures or delivery methods that may better serve consumers.
Project Catalyst collaboration to improve understanding of financial well-being
The CFPB is launching a research pilot with Credit Karma to help understand consumer financial well-being.
Supporting consumer-friendly innovation: Announcing our first no-action letter
Our first-ever no-action letter is being issued to Upstart.
Technology is changing how people access their financial records. Share your story.
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...
Project Catalyst research pilot: Tools for saving
We released the results of a Project Catalyst research project finding that offering a small incentive to prepaid card users to put some of their money...
We’re open to innovative approaches to benefit consumers
Take a look around and you'll see that the consumer financial marketplace is experiencing constant and rapid change. New technologies and insights can...
Promoting saving at tax time
Today, we're announcing that as part of Project Catalyst, we'll be working with H&R Block to evaluate practices to promote consumer saving behavior during...
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...
Disclosures: A new avenue for improvement
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...
An update on trial disclosures
Yesterday, we made a significant update to our proposed policy to encourage trial disclosure programs, which allow companies, on a trial basis, to test...
Project Catalyst develops portfolio to support innovation
The initiatives announced at the start of Project Catalyst are gaining early traction. In November 2012 in Mountain View, Calif., we launched Project...
Watch live, Mountain View, CA!
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...