How to understand special promotional financing offers on credit cards
Understand the key differences between two types of credit card financing promotions, and how to tell them apart.
Blog archive
Understanding Consumer Experiences: Insights from CFPB’s 2016 Consumer Response Annual Report
We recently published our
Consumer Response Annual Report, which provides an overview of the complaints
we received in 2016.
Mastercard and UniRush to Pay $10 Million to Consumers Harmed by RushCard Technology Breakdown
Today, we took action against Mastercard and UniRush after preventable technological breakdowns in October 2015 left tens of thousands of RushCard users...
Easy-to-remember guidelines help people reduce credit card debt
If you’re trying to
cut down your credit card debt, research shows it can help to keep a short
guideline in mind.
Who are the Credit Invisible?
In 2015, the Bureau published a report finding that 26 million Americans are "credit invisible." We've broken down the report to capture its most compelling...
We’re exploring the use of a list of companies that offer free credit scores
We're exploring the use of a list of companies that offer free credit scores to their existing customers. Give us your input by commenting on the Federal...
Hundreds of thousands of accounts secretly created by Wells Fargo Bank employees leads to historic $100 million fine from the CFPB
The CFPB fines Wells Fargo for opening secret accounts without consumers’ knowledge or consent.
6 tips for using your credit card this season
Credit cards can help you build and maintain good credit, as long as you use your cards responsibly and pay your bills on time each month.
What’s that chip doing on my credit card?
Lately, we've received questions from people wanting to know what these chips are and how they work. As a new federal agency, we're committed to providing...
You have the right to a fair financial marketplace
Since 2011, we have secured over $10.8 billion dollars in relief for more than 25 million consumers harmed by illegal practices.
Citibank to refund $700 million to credit card customers for unfair and deceptive practices
Today we're ordering Citibank, N.A. and some of its subsidiaries to refund approximately $700 million to customers for unfair and deceptive credit card...
We’re ordering JP Morgan Chase to refund $50 million and stop collecting on 528,000 accounts
Chase has already begun compensating consumers and will contact you if you are eligible for payment.
Sunshine for college credit card agreements
Today, we're releasing a report that looks at deals between financial institutions and colleges to market credit cards to students. This year we found that...
New Project Catalyst research pilot to study early intervention credit counseling
We're announcing a research pilot aimed at assessing the potential impact of early intervention credit counseling. We know that defaulting on credit card...
Reminder for steps you can take if you think your credit or debit card data was hacked
Home Depot has confirmed that there has been a breach of its payment data systems. According to the company, the breach could potentially impact any...
You could still end up paying interest on a zero percent interest credit card offer
What could be better than zero percent interest for one year? Nothing, nada, free...right? Not exactly. Credit card companies market these promotions as a way...
How to protect vulnerable children from credit reporting problems
Youth in foster care are particularly susceptible to identity theft because they often lack a permanent address, and their personal information is...
Explainer: Compensating consumers for Bank of America’s illegal tactics for credit card add-on products
We're ordering Bank of America to refund up to $727 million to approximately 2.9 million consumers for unfair billing and deceptive marketing and sales...
What sunshine for student financial products can show us
Some of these agreements were difficult to find, but here are a few examples of the different agreements financial institutions have with colleges and...
What’s the deal with health care credit cards? Four things you should know
Recently, many patients facing medical procedures have seen their health care providers suggest deferred interest rate credit cards as a payment option...
Four steps you can take if you think your credit or debit card data was hacked
The recent data breach and theft of credit and debit card information at Target retail stores could impact tens of millions of consumers, and we want to let...
Sunshine for student financial products
Today, Director Cordray is alerting financial institutions about the potentially risky practice of making secret payments to colleges and universities to...
Live from Chicago, Illinois!
We were in Chicago for a field hearing on credit cards. We heard remarks from Director Richard Cordray, as well as testimony from consumer groups, industry...
Save the date, Chicago, Illinois!
Join us for a field hearing in Chicago on credit cards. The hearing will take place on Wednesday, October 2 at 11 a.m. CDT at the following address: Winter...
Releasing complaint data about credit cards, mortgages, student loans, bank accounts, services, and other consumer loans
What are you going to make with #CFPBdata? Last summer, we launched our Consumer Complaint Database featuring data about credit card complaints. Today...
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