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Category: Policy and compliance |
Published

Overcharging for add-on products on auto loans

The Division of Supervision, Enforcement, and Fair Lending is taking action against sloppy servicing practices that cause consumer harm, such as unfair practices that may occur when add-on products terminate. We will continue to scrutinize servicer practices to make sure that borrowers aren’t overcharged when their loans end early.

Category: Info for consumers |
Published

Seven examples of unfair practices and other violations by mortgage servicers: CFPB supervision activities uncover red flags

A review of our 2021 supervision activities revealed unfair acts and practices, and other violations, by mortgage servicers. Here’s what to be aware of and how to find the resources you need if you’re struggling to make your mortgage payments.

Category: Data, research, and reports |
Published

Protecting consumers through a pandemic: 2020 Fair Lending Report to Congress

This report describes our fair lending activities in supervision, enforcement, guidance and rulemaking, interagency coordination, and outreach and education for calendar year 2020.

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

Come be our ‘boots on the ground’ – join our supervision team!

We’re recruiting examiners – our “boots on the ground” within our supervision team – to work daily with large banks and nonbank companies to ensure compliance with consumer financial protection laws and to promote a market for fair, transparent, and competitive consumer financial products and services. Apply before midnight on Friday, March 22. Our consumer-centered […]

Category: At the CFPB |
Published

Realigning our supervision work

Today we’re announcing the reorganization of our Headquarters staff for Supervision. We will continue having two Supervision offices at Headquarters, but now we will have one focusing on examinations and one focusing on policy. This realignment is consistent with our mission to protect consumers across financial services markets without regard to the charter of the […]

Category: Info for consumers |
Published

Foreclosure help is free, and scams are expensive

If you’re having trouble paying your mortgage, we can help you get connected to a HUD-approved housing counselor at no cost to you. The counselor can help you work with your servicer or lender to try to avoid foreclosure, organize your finances, understand your mortgage options, and find a solution that works for you.

Learn more.

Category: At the CFPB |
Published

Live from Detroit, MI!

For the first time, consumer reporting agencies will be subject to a federal supervision program. We made the announcement at a field hearing in Detroit, which we streamed right here. You can watch footage from the event here, featuring remarks from Richard Cordray, CFPB Director, as well as testimony from consumer groups, academics, industry representatives, and members of the public. You can also…

Tell us your story about credit reporting.
Tweet about credit reporting or the event using #CreditReporting .
Read our consumer advisory on checking your credit score at least once a year.

Category: Policy and compliance |
Published

Fair Notice on Fair Lending

Millions of Americans rely on loans and other credit products to attend college, buy cars, purchase homes, or open businesses. For many of us, access to credit makes it possible to achieve the American Dream of a better life for ourselves and our children. All too often, credit discrimination stands in the way of this access. It keeps worthy borrowers from the tools they need to reach their financial goals.

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

Hearing your stories on payday lending

Today, the Consumer Financial Protection Bureau traveled to Birmingham, Ala., for our first field hearing. We gathered to discuss and collect information on payday lending. The payday lending market is a multi-billion dollar industry in the United States, and Alabama has one of the largest concentrations of payday lenders in the country.