Newsroom | Consumer Financial Protection Bureau

Press release

Published FEB 03, 2025

Statement on Designation of Treasury Secretary Scott Bessent as Acting Director of the Consumer Financial Protection Bureau

On January 31, 2025, President Trump designated Secretary of the Treasury Scott Bessent as Acting Director of the Consumer Financial Protection Bureau (CFPB).

Press release

Published JAN 30, 2025

CFPB Orders Wise to Pay $2.5 Million for Illegal Remittance Practices

The CFPB ordered the international remittance company Wise to pay nearly $2.5 million for a series of illegal actions.

Press release

Published JAN 30, 2025

CFPB Updates List of Consumer Reporting Companies

Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies.

Press release

Published JAN 29, 2025

CFPB Finds Servicemembers Pay More in Auto Lending Market

The CFPB published a report showing that U.S. servicemembers pay higher costs and face greater financial risks when taking out credit to buy a car.

Letter

Published JAN 28, 2025

CFPB Letter to Massachusetts State Legislature on Barring Medical Bills on Credit Reports

A letter written by Seth Frotman, CFPB General Counsel, to the Representative John J. Lawn, Jr. and the Senator John J. Cronin of the Massachusetts State Legislature.

By Seth Frotman

Letter

Published JAN 28, 2025

CFPB Letter to South Dakota State Legislature on Barring Medical Bills on Credit Reports

A letter written by Seth Frotman, CFPB General Counsel, to Representative Brian Mulder of the South Dakota State Legislature.

By Seth Frotman

Letter

Published JAN 28, 2025

CFPB Letter to Oregon State Legislature on Barring Medical Bills on Credit Reports

A letter written by Seth Frotman, CFPB General Counsel, to Senator Wlnsvey Campos and the Representative Nathan Sosa of the Oregon State Legislature.

By Seth Frotman

Letter

Published JAN 28, 2025

CFPB Letter to Washington State Legislature on Barring Medical Bills on Credit Reports

A letter written by Seth Frotman, CFPB General Counsel, to Senator Marcus Riccelli and Representative Joe Timmons of the Washington State Legislature.

By Seth Frotman

Press release

Published JAN 28, 2025

CFPB Report Finds Continued Challenges for Households that Rent

Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024.

Press release

Published JAN 24, 2025

CFPB Report Finds Cash-Out Mortgage Refinance Borrowers Improve Credit Scores

Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers.

Press release

Published JAN 23, 2025

CFPB Finds More Vehicles Eligible for Repossession Than Pre-Pandemic

The CFPB published a report showing that the rate of auto repossessions at the end of 2022 surpassed pre-pandemic levels.

Press release

Published JAN 17, 2025

CFPB Orders Equifax to Pay $15 Million for Improper Investigations of Credit Reporting Errors

The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

Press release

Published JAN 17, 2025

CFPB Takes Action Against Draper & Kramer Mortgage for Discriminatory Mortgage Lending Practices

The CFPB took action against Draper & Kramer Mortgage Corporation for discriminatory mortgage lending activities that discouraged homebuyers from applying to Draper for homes in majority-Black and Hispanic neighborhoods in the greater Chicago and Boston areas.

Press release

Published JAN 17, 2025

CFPB Orders Honda’s Auto Financing Arm to Pay $12.8 Million for COVID-19 and Other Credit Reporting Failures

The CFPB ordered the American Honda Finance Corporation to pay $12.8 million for reporting inaccurate information that affected the credit reports of 300,000 people.

Press release

Published JAN 16, 2025

CFPB Orders Operator of Cash App to Pay $175 Million and Fix Its Failures on Fraud

The CFPB ordered Block, the operator of the peer-to-peer payments app Cash App, to refund consumers $120 million and pay a penalty of $55 million.

Press release

Published JAN 16, 2025

CFPB Takes Action to Address Illegal Debt Collection Practices by the National Collegiate Student Loan Trusts

The CFPB took action to resolve its case against the National Collegiate Student Loan Trusts for unlawfully filing defective debt collection lawsuits to collect on private student loan debt.

Press release

Published JAN 15, 2025

CFPB Director Rohit Chopra and General Counsel Seth Frotman article on state enforcement as a federal legislative tool

CFPB Director Rohit Chopra and General Counsel Seth Frotman published an article in the Harvard Journal on Legislation examining state enforcement as a federal legislative tool.

Press release

Published JAN 14, 2025

CFPB Sues Capital One for Cheating Consumers Out of More Than $2 Billion in Interest Payments on Savings Accounts

The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest.

Press release

Published JAN 13, 2025

CFPB Research Reveals Heavy Buy Now, Pay Later Use Among Borrowers with High Credit Balances and Multiple Pay-in-Four Loans

The CFPB released a study finding one fifth of consumers used Buy Now, Pay Later (BNPL) loans in 2022, and many held simultaneous loans from multiple lenders.

Press release

Published JAN 13, 2025

CFPB Finds Hundreds of Thousands of Mortgages in Southeast and Central Southwest US Likely Underinsured Against Flood Risk

The CFPB found significant differences in the likelihood that homeowners with a mortgage are adequately insured against flooding based on location and income and assets.

Press release

Published JAN 13, 2025

CFPB Proposes Rule to Ban Contract Clauses that Strip Away Fundamental Freedoms

Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would stop financial companies from forcing Americans to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution.

Press release

Published JAN 10, 2025

CFPB Seeks Input on Digital Payment Privacy and Consumer Protections

Today, the CFPB announced that it is seeking public input on strengthening privacy protections and preventing harmful surveillance in digital payments, particularly those offered through large technology platforms.

Press release

Published JAN 08, 2025

CFPB Approves Application from Financial Data Exchange to Issue Standards for Open Banking

The CFPB issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule.

Speech

Published JAN 07, 2025

The Federal General Counsel, Law, and Our Democracy at a Crossroads

Prepared remarks by Seth Frotman, General Counsel and Senior Advisor to the Director, given at the University of Michigan on January 7, 2025.

By Seth Frotman

Press release

Published JAN 07, 2025

CFPB Sues Experian for Sham Investigations of Credit Report Errors

The CFPB sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.