The month of April marks . In 2021, this annual event holds a distinctly different feeling. Over the last year, Americans have felt the tremendous strain of the coronavirus pandemic and the resulting economic crisis. Our generation has never seen or experienced a pandemic to this scale, and the only certain thing about the whole situation was the uncertainty of what lay ahead.
Yet, it’s for exactly this kind of moment that the CFPB was created. The CFPB was born out of the 2008 financial crisis to protect the economically vulnerable, and in this current moment, we’re doubling down on that commitment.
A recent CFPB report found that more than 11 million Americans are facing difficulties paying their mortgage or rent as a result of the coronavirus pandemic. Without swift action, consumers are at risk of losing their homes, falling prey to scams and bad actors, and suffering long-term financial impacts on their credit history.
At the CFPB, we are ready to do our part.
Protecting consumers from illegal evictions
This week, the Centers for Disease Control and Prevention (CDC) extended the moratorium on residential evictions through June 30, and FTC and CFPB issued a statement regarding our joint work to help stop illegal evictions, which could displace families and expose them – and by extension, all of us – to grave health risks.
Free, up-to-date tools and information for consumers
The CFPB is also expanding our ongoing efforts to bring consumers the tools and resources they need to recover their financial footing.
As CDC extended their moratorium on eviction, the CFPB for renters guiding them through the process of submitting a CDC declaration to temporarily stop eviction if they are unable to pay their rent due to the coronavirus.
This is just the latest resource we’ve developed to help consumers get the information they need to navigate financial options and decisions during the pandemic. The CFPB and other federal agencies have developed resources and information for a wide range of financial situations, including resources for renters and tools to help homeowners and mortgage borrowers.
For more information, tools, and resources to protect and manage your finances, you can visit consumerfinance.gov/coronavirus.
I encourage you to use and share these resources with your friends and families for timely, helpful information to protect and manage your money during these uncertain times.
Meanwhile, the CFPB will continue to take decisive action, using all our available tools, to make sure the consumer financial marketplace is responding to the needs of consumers, particularly the most economically vulnerable.