Blog archive

The CFPB has received feedback on its BNPL interpretive rule and will now provide more clarity and guidance on company compliance and the benefits to consumers.

The CFPB will continue to take steps to ensure that all consumers, including immigrants, have equal access to credit opportunities.

Creditors can obtain civil judgments to garnish wages for unpaid debts, but civil judgments are much more common in some states and areas than others.

Credit card companies are failing to report your actual payment data to the nationwide consumer reporting companies. The CFPB asked why, and this is what we learned.

Credit score tiers shifted upward during the pandemic, with more consumers transitioning from subprime to prime credit scores.

Far too many households and businesses continue to lack fair and equitable access to credit. Through SPCPs, lenders can better serve historically disadvantaged individuals and communities.

Credit cards play a critical role for consumers. Lenders can cut card lines, and have done so especially during economic downturns. New CFPB research shows the impact line cuts have on consumers.

The CFPB is working to identify and address the financial needs of immigrant consumers.

A CFPB report revealed that the NCRAs have largely relied on vague, unhelpful form letters in response to consumer complaints filed with the Bureau. This practice, which surged in 2020, left families and communities vulnerable at the height of an unprecedented global pandemic and economic crisis.

Since April 2020, Access to new credit cards has decreased, but access to mortgages and auto loans has increased since the start of the pandemic.

Since April 2020, credit limits on credit cards largely stagnated, but have risen in recent months for most credit score groups.

Since April 2020, credit card balances and utilization rates have continued to decline, and the share of credit card borrowers that carry a balance rather than pay in full have also declined.

Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.

New CFPB research examines trends in consumer credit during COVID-19, finding delinquencies for credit cards, auto loans, mortgages, and student loans remain lower than pre-pandemic levels.

Analysis and key findings from the report "A Brief Note on General Lending Patterns of Small to Medium Size Closed-end HMDA Reporters".

A new analysis in our Making Ends Meet survey series looks at how consumers use payday, auto title, and pawn loans.

A new analysis examines the early impact of COVID-19 on consumer finances, finding the ability to stay on top of finances was higher in June 2020 than 2019 likely due to policies to reduce financial distress.

This report describes our fair lending activities in supervision, enforcement, guidance and rulemaking, interagency coordination, and outreach and education for calendar year 2020.

The Bureau plans to develop guidance to industry on serving consumers with limited English proficiency (LEP) and welcomes public comments through the Bureau’s 2020 Request for Information on the Equal Credit Opportunity Act and Regulation B.

This quarterly consumer credit trends report explores the prevalence of actual payment information in consumer credit reporting.

Consumers who are of limited English proficiency face unique challenges in learning about and accessing financial services. Watch our webinar to learn how CFPB is working to make our resources accessible to everyone.

The Bureau calls attention to the Special Purpose Credit Program provisions of Equal Credit Opportunity Act and Regulation B to help meet the credit needs of underserved communities.

The CFPB is taking steps to help create real and sustainable changes in our financial system so that African Americans and other minorities have equal opportunities to build wealth and close the economic divide.

This report describes our fair lending activities in innovation, outreach, prioritization, guidance and rulemaking, supervision, and enforcement for calendar year 2019.

The Bureau has a responsibility for addressing lending discrimination, including lending to women- and minority-owned businesses, which apply for credit during the COVID-19 pandemic under the CARES Act.