Blog archive

The CFPB filed an amicus brief to help ensure that consumers can hold debt collectors accountable for making false statements.

In December, 264 consumers started receiving checks from a series of lawsuits involving four individuals who brokered illegal high-interest credit offers to veterans.

As interest rates increased in 2022, the number of refinance mortgage originations declined, with cash-out refinances becoming a larger share of all refinances. Cash-out refinances exacerbated the 2008 financial crisis, but regulatory and market developments may have changed the risks of cash-out refinances to consumers and the mortgage market. A new analysis looks at the characteristics of these refinances and the rates of delinquency.

The CFPB has submitted input on a proposal by the California Department of Financial Protection and Innovation explaining states' critical role in oversight of providers of consumer financial products and services.

The CFPB Ombudsman’s Office shares its FY2023 Annual Report.

Individual lenders can apply to enroll in a testing pilot of alternative, tailored disclosures for construction loans designed to improve consumer understanding of loan terms and costs.

845 consumers will receive checks from a lawsuit against the owner of a student loan debt-relief company that withdrew hundreds of thousands of dollars from borrowers without authorization.

The CFPB works to protect servicemembers in the financial market, engage military stakeholders, and monitor the market to identify risks to servicemembers, veterans, and military families.

On November 1, the Appraisal Subcommittee – which has a seven-member federal agency board including the CFPB – will hold its next public hearing to discuss the challenges and solutions to preventing bias in the home appraisal process. Members of the public are encouraged to attend.

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

Consumer complaints about financial products and services provide real-time insights into what individuals and families are experiencing in the financial marketplace. In August, the CFPB published our four millionth consumer complaint.

When a company that provided disputed information to a credit reporting agency is unable to determine whether the information is true or not, the law requires the company to tell the agency the information couldn’t be verified and to stop providing that information going forward.

In October, most federal student loan borrowers will make their first student loan payments since March 2020. Changes to the federal student loan program, though, may mean many borrowers are eligible for a reduced payment or a loan cancellation.

In the wake of Hurricane Idalia, the CFPB has resources to help people in Florida, Georgia, the Carolinas and nearby states recover financially. We also have tips for people sending help to communities who have been affected.

In the wake of the wildfires affecting Hawaii, the CFPB has tips to help you recover financially, and how to help those affected by the major disaster.

New Mexicans submitted complaints about credit reporting, debt collection, and other products.

Our research shows that people in Puerto Rico have lower financial well-being compared to people in the rest of the United States.

After using rental background check/tenant screening reports against a renter, landlords have to provide an adverse action notice. Federal Housing Agencies want this to be in writing.

Cashflow data (regular savings, accumulated savings, paying bills on time) helps predict ability to repay and repayment risk, even when accounting for credit scores.

Tomorrow is the 12th anniversary of the Consumer Financial Protection Bureau. The CFPB is proud to celebrate our work so far and continue protecting consumers as new markets emerge.

The basics of CFPB’s enforcement actions against Bank of America, the customers who were affected, and the practices that violated federal law.

Credit reporting changes through the Department of Education’s Fresh Start program coincided with increased credit scores for nearly 2 million student loan borrowers.

This week, we joined the State of Maine to file an amicus brief to help ensure that consumers receive critical protections when taking out loans.

Timemark, Inc. collected illegal advance fees from more than 7,100 consumers seeking to renegotiate, settle, reduce, or alter the terms of their loans.

The CFPB releases its Fair Lending Annual Report to Congress, describing its fair lending activities in enforcement and supervision; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2022.