CFPB Outlines Borrower-Friendly Approach to Mortgage Servicing
"The mortgage servicing rules we are considering reflect two basic, common-sense principles – no surprises and no runarounds," said CFPB Director Richard...
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Consumer Financial Protection Bureau files amicus brief in truth in lending case
When a borrower cancels a loan on this basis, the lender must release its liens against the borrower's home, and the borrower must return the loan he or she...
CFPB Invites Consumers to Ask CFPB
"Ask CFPB gives consumers answers in plain language so they can make sound financial decisions. But today's launch is just the beginning – we will continue...
Consumer Financial Protection Bureau proposes rule for the protection of privileged information
The proposed rule is intended to provide supervised entities further assurances that providing privileged information to the Bureau will not adversely...
CFPB Now Taking Private Student Loan Complaints
The CFPB will assist all borrowers experiencing problems taking out a private student loan, repaying their private student loan, or managing a student loan...
Consumer Financial Protection Bureau now taking complaints on checking accounts
Almost nine out of ten American households have at least one checking account, and many also maintain a savings account. Yet, despite the fact that they are...
Consumer Financial Protection Bureau Seeks Consumer Advisory Board Nominations
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, requires that a Consumer Advisory Board be established to advise and...
Holly Petraeus Statement on Senate Help Committee Report on Military Education Benefits
Today, the Senate Health, Education, Labor, and Pensions (HELP) Committee released data which revealed that education benefits administered by the...
CFPB Launches Inquiry into Overdraft Practices
As part of that inquiry, the CFPB is seeking public input on a prototype "penalty fee box" – a disclosure on a consumer's checking account statement that...
CFPB Convenes Small Business Panel for Know Before You Owe Mortgage Disclosures
The review panel will solicit feedback from small businesses that make mortgage loans and conduct mortgage closings.
CFPB Proposes Rule to Supervise Larger Participants in Consumer Debt Collection and Consumer Reporting Markets
"Our proposed rule would mean that those debt collectors and credit reporting agencies that qualify as larger participants are subject to the same...
CFPB Seeks Input on Draft Monthly Mortgage Statement
"This draft statement shows consumers the breakdown of their mortgage payments – what money goes to the loan principal, interest, and fees," said CFPB...
Holly Petraeus Statement on the Servicemember Protections in the Mortgage Servicing Settlement
"The provisions relating to the Servicemembers Civil Relief Act (SCRA) in this agreement will help ensure that members of the military won't be denied...
CFPB Director Richard Cordray Statement on the Mortgage Servicing Settlement
The settlement will provide $25 billion in financial relief to distressed homeowners and establish new servicer standards of conduct.
Federal and State Officials Announce New Law Enforcement Partnership to Protect Military Community
The Repeat Offenders Against Military (ROAM) Database will track completed enforcement actions against companies and individuals who repeatedly scam...
Consumer Financial Protection Bureau, Federal Trade Commission pledge to work together to protect consumers
"Entering this agreement with the FTC is important to making sure markets for consumer financial products are getting efficient and effective federal...
CFPB Adopts Rule to Protect Consumers Sending Money Internationally
Under the new rule, remittance transfer providers will generally be required to disclose the exchange rate and all fees associated with a transfer so that...
CFPB Examines Payday Lending
The hearing coincides with the publication of the Bureau's Short-Term, Small-Dollar Lending Procedures – a field guide CFPB examiners will use to make sure...
CFPB Convenes Field Hearing in Birmingham, Alabama on Payday Lending
Last week, under the new leadership of Director Richard Cordray, the CFPB launched the nation's first federal nonbank supervision program with the authority...
CFPB Releases Mortgage Origination Examination Procedures
These procedures are a field guide for CFPB examiners looking at mortgage originators in both the bank and nonbank sectors of the industry.
Raj Date Named Deputy Director of the Consumer Financial Protection Bureau
CFPB Director Richard Cordray today named Raj Date the agency's first Deputy Director. Date has been leading the day-to-day...
CFPB Launches Nonbank Supervision Program
This will be an extension of the CFPB’s bank supervision program that began last July and will ensure that banks and nonbanks follow federal consumer financial laws.
CFPB Begins Taking Whistleblower Tips
The CFPB is welcoming information about potential violators from current or former employees, contractors, vendors, and competitor companies. The Dodd-Frank...
CFPB Aims to Simplify Credit Card Agreements
Today, at a news conference in Cleveland, Ohio, the Bureau launched a new Know Before You Owe project aimed at simplifying credit card agreements so that...
SIGTARP, CFPB, and Treasury form Joint Task Force to Combat HAMP Mortgage Modification Scams; Release a Consumer Fraud Alert to Protect Homeowners
"The goal of our consumer fraud alert is to empower homeowners with the knowledge of how to recognize and avoid these scams," said Christy Romero, Deputy...