Blog archive

A new analysis from CFPB researchers finds that the majority of mortgage borrowers in forbearance during COVID-19 have since become current on their loans.

The CFPB filed an amicus brief to protect consumers’ right to challenge discrimination under the Equal Credit Opportunity Act.

Beginning on July 3, the CFPB is accepting applications to serve on our four advisory committees, which provide insight and advice as we carry out our work.

In a response to the White House Office of Science and Technology Policy’s inquiry into automated worker surveillance, the CFPB has also outlined concerns about the potential harms workers may face when algorithms continually determine a worker’s earnings, hours, and more.

CFPB will propose streamlining the existing mortgage servicing rules to promote greater agility on the part of mortgage servicers in responding to future economic shocks while also continuing to ensure they meet their obligations for assisting borrowers promptly and fairly.

The CFPB is working to accelerate the shift to open banking through a new personal data rights rule intended to break down these obstacles, jumpstart competition, and protect financial privacy.

The CFPB launched an inquiry into companies that track and collect information on people’s personal lives.

The CFPB is monitoring financial institutions’ use of chatbot technology to ensure consumers receive timely and reliable support from their providers.

Delinquencies and scheduled payments for non-student-loans continue to rise for student loan borrowers during the federal student loan payment pause.

Elder justice stakeholders can learn from best practices of networks that adapted in the last several years and replicate their efforts in their communities.

Today, the CFPB is taking another step toward ensuring accountability for automated decision models, sometimes marketed as artificial intelligence (AI).

Mortgage borrowers are paying around $100 a month more depending on which lender they choose, for the same type of loan and the same consumer characteristics (such as credit score and downpayment).

The CFPB is exploring long-term solutions to move away from single points of failure, ensure system resilience, and eliminate unnecessary complexity in rulemaking.

The nationwide credit reporting companies have removed medical collections already paid, under $500 or less than a year old from consumer credit reports. Have medical debt? Here’s what you should know.

More than 6,500 consumers who were misled by false promises and paid fees to Burlington Financial Group will receive checks in the mail this month.

Companies that provide adjustable-rate mortgages, student loans, home equity lines of credit, reverse mortgages, and credit cards are ending their use of a popular interest rate index, which expires June 30, 2023.

Active duty and National guard members are entitled to free electronic credit monitoring.

Help is available for homeowners who took out second mortgages years ago, and believed their loans were either forgiven or modified into a single loan, and now are being targeted by debt collectors threatening foreclosure.

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 cards are one of the most common financial products in our country, providing the bulk of short-term credit for families. Interest rates on credit cards have risen substantially, with average interest rates going over 20%. Given the trends for the 175 million Americans with credit cards, the CFPB estimates that outstanding credit card debt may continue to set records and could even hit $1 trillion.

This week, we filed a Statement of Interest to protect people from discriminatory targeting.

More than 78,000 consumers harmed by College Financial Advisory and Student Financial Resource Center will receive checks in the mail this month.

The CFPB launched an inquiry into companies that track and collect information on people’s personal lives.

Consumers harmed by GST Factoring, Inc., Champion Marketing Solutions, Amanda Johnson, David Mize, Jacob Slaughter, and Daniel Ruggiero will receive money from the CFPB Civil Penalty Fund.

The CFPB is convening government enforcers to sharpen our combined efforts to protect consumers as tech reshapes the financial marketplace.