CFPB Makes International Money Transfers Easier for Certain Financial Institutions
The rule implements new protections under the Dodd-Frank Wall Street Reform and Consumer Protection Act that require remittance transfer providers to...
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CFPB Releases Report Showcasing 2012 Highlights
Today's report covers the Bureau's actions from January 1, 2012 through June 30, 2012. It showcases how the Bureau has used its multiple authorities...
CFPB and U.S. Department of Education Joint Report Finds a Cycle of Boom and Bust in Private Student Loan Market
According to the CFPB's estimates, outstanding student loan debt in the United States topped $1 trillion in 2011 — $864 billion of federal student debt and...
CFPB Probe into Capital One Credit Card Marketing Results in $140 Million Consumer Refund
This action results from a CFPB examination that identified deceptive marketing tactics used by Capital One's vendors to pressure or mislead consumers into...
CFPB to Supervise Credit Reporting
The Bureau adopted a rule today to begin supervising larger consumer reporting agencies, which include what are popularly called credit bureaus or credit...
CFPB Proposes “Know Before You Owe” Mortgage Forms
"Our proposed redesign of the federal mortgage forms provides much-needed transparency in the mortgage market and gives consumers greater power over the...
CFPB Adopts Rule for the Protection of Privileged Information
"We are committed to safeguarding the confidential information of the institutions we supervise to ensure the Bureau is best equipped to do its job and...
CFPB Report Finds Confusion in Reverse Mortgage Market
A reverse mortgage is a special type of home loan that allows older homeowners to access the equity they have built up in their homes now, and defer payment...
Consumer Financial Protection Bureau and prudential regulators issue joint guidance to address mortgage servicer practices that impact servicemembers
The guidance, which is intended to ensure compliance with applicable consumer laws and regulations, pertains to military homeowners who have received...
CFPB Announces Changes to Senior Leadership
Among those named are: Associate Director for Supervision, Enforcement, and Fair Lending; General Counsel; Senior Advisor and Counselor to the Director...
CFPB Launches Consumer Complaint Database
In December, the CFPB asked the public to comment on a proposed policy of making some credit card complaint data publicly available. After considering those...
CFPB Launches Inquiry on Elder Financial Abuse
"Our older adult population is growing every year, which makes it even more critical that we study this issue. Today, the Bureau will launch a public...
CFPB Publishes Private Student Loan Borrower Comments
These comments contain unique, detailed, and personal depictions of consumer experiences with private student loan debt.
Agencies Sign Memorandum of Understanding on Supervisory Coordination
Such coordination includes scheduling examinations, conducting simultaneous examinations of covered depository institutions unless an institution requests...
CFPB Seeks Further Comment on Ability-to-Repay Mortgage Rule
"Through our ability-to-repay rule, we want to ensure that consumers are not set up to fail with mortgages they cannot afford and we want to protect access...
CFPB Proposes Procedural Rule on Supervising Nonbanks that Pose Risks to Consumers
"This is an important step in the development of our nonbank supervision program," said CFPB Director Richard Cordray. "This proposal allows us to reach...
CFPB Considers Rules on Prepaid Cards
The Bureau's Advance Notice of Proposed Rulemaking seeks input on how to ensure that consumers' funds on prepaid cards are safe and that card terms and fees...
CFPB Considers Rules to Simplify Mortgage Points and Fees
These rules, which the CFPB expects to propose this summer and finalize by January 2013, would make it easier for consumers to understand mortgage costs and...
FFIEC Implements New InfoBase Technology for The Information Technology Examination Handbook
The IT Handbook consists of 11 booklets covering a variety of technology and technology-related risk management guidance for financial institutions and...
CFPB hires Stuart Ishimaru to head the Office of Minority and Women Inclusion
The Consumer Financial Protection Bureau (CFPB) announced the selection of Stuart Ishimaru to head the newly established Office of Minority and Women Inclusion (OMWI).
CFPB Launches Public Inquiry into Arbitration Clauses
Today the CFPB launched a public inquiry into how consumers and financial services companies are affected by arbitration and arbitration clauses.
CFPB Clarifies State Reciprocity in Loan Originator Licensing
In a bulletin, the CFPB states that, consistent with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), a state may grant a...
CFPB to Hold Financial Institutions and their Service Providers Accountable
The Bureau will take a close look at service providers' interactions with consumers. It will hold all appropriate companies accountable when legal...
CFPB Seeks Public Comment on Amendment to Credit Card Act Rule
At issue in the lawsuit is the total amount of fees that a credit card issuer may require a consumer to pay with respect to a credit card account prior to...
CFPB Releases Financial Aid Comparison Shopper
The Bureau today launched the next phase of its Know Before You Owe student loan project by releasing a beta version of the Financial Aid Comparison...