In observance of six years serving consumers, here are six ways the CFPB has made consumers count.
Arbitration clauses in consumer financial product and service contracts like credit cards and bank accounts prevent groups of people from taking companies to court for harms that affect many people. Our new rule will help the many people who are harmed together take action together.
Good afternoon and thank you. And let me thank all the groups represented here at the conference. You raise awareness about the need for fairness, honesty, and justice in business, housing, civic life, and economic development.
The CFPB will assess the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule. We are seeking comments on our plan for the assessment.
Your feedback and comments will help up improve our assessment.
We’ve finalized a rule to delay the general effective date of the prepaid accounts rule by six months, to April 1, 2018.
The improvements to our policy will help ensure that our rulemaking process continues to be open and fair and allows for candid input from state entities.
Proposal Would Clarify Requirements and Help Companies Comply
We are seeking comment on our proposal to clarify, make technical corrections, and minor changes to the data that financial institutions are required to collect and report about their mortgage lending, which will improve the quality of mortgage data available to the public.