What We’re Watching: Language Access in Consumer Finance
Financial institutions are increasingly serving consumers in languages other than English.
Blog archive
CFPB launches public comment process for open banking standard setter recognition
The public can submit comments on open banking standard-setter applications to ensure the development of fair and effective open banking standards that serve the interests of all stakeholders, especially consumers.
Promoting competition in payments
Director Chopra reacts to Apple’s recent announcement about planned changes to “tap-to-pay” functionality on its iOS devices.
Preserving free access to money in your account
The CFPB has found that people are paying more for their cash, not only at out-of-network ATMs, but also at places like grocery stores and retailers that previously provided access for free.
What’s ahead for Bank of America and its customers
The basics of CFPB’s enforcement actions against Bank of America, the customers who were affected, and the practices that violated federal law.
Laying the foundation for open banking in the United States
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 has entered the chat
The CFPB is monitoring financial institutions’ use of chatbot technology to ensure consumers receive timely and reliable support from their providers.
What’s ahead for Wells Fargo and its customers
See the basics of CFPB’s enforcement action against Wells Fargo, the customers who were affected, and the practices that violated federal law.
New risks emerge as line between payments and commerce blurs
Innovations across the payments ecosystem are transforming how people access financial products and services. This raises concerns that peoples’ financial data may be aggregated and monetized without their knowledge or permission.
Long hold times or excellent care? Tell us about the customer service at your bank or credit union!
Banks and credit unions should ensure you’re getting timely responses to your banking questions. To help ensure they’re meeting your needs, the CFPB is asking for you to share your experiences, good or bad.
Banks’ overdraft/NSF fee revenues evolve along with their policies
This blog post examines recent changes in overdraft and NSF fee revenues reported in call reports to understand how announced changes in overdraft policies affected these revenues.
Using special purpose credit programs to serve unmet credit needs
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.
Identifying and addressing the financial needs of immigrants
The CFPB is working to identify and address the financial needs of immigrant consumers.
Helping borrowers hold mortgage servicers accountable
This week, CFPB filed a friend-of-the-court brief to protect borrowers' rights under federal law to obtain vital information about their mortgage loans from loan servicers.
Overdraft fees can price people out of banking
Frequent overdraft fees take a heavy toll on families living paycheck to paycheck, and may drive people away from bank accounts.
CFPB Extends Opportunity for Public to Provide Input on Junk Fees
The CFPB announced it will extend the deadline for the public to share input and stories on exploitative junk fees through April 11, 2022.
The Fed is raising interest rates. What does that mean for borrowers and savers?
As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices.
The hidden cost of junk fees
When we shop, we often look at the cheapest advertised price. But the true price may include junk fees. Learn the most common types and share how these fees impact your financial life.
How should regulators review bank mergers?
A new Request for Information will help inform a review of the FDIC and OCC’s Bank Merger Act policies.
Take action to protect your Economic Impact Payment if your account is overdrawn
Take action to get the full benefit of your Economic Impact Payment.
What to consider when sharing your financial data
A growing number of financial services are powered by data sharing. Learn what that means for you, and the key things to consider before sharing your data.
You have options for how to receive your unemployment benefits
If you’ve applied for unemployment benefits because of the coronavirus, learn the ways you can choose to receive your payments.
Taskforce on Federal Consumer Financial Law charting a path ahead
A message from the Chair of the Taskforce on Federal Consumer Financial Law on the Taskforce report, public engagement, and a path forward.
Online and mobile banking tips for beginners
Online banking allows customers to handle their finances from the comfort of home. We share tips for people who are new to online or mobile banking, as well as offer information about the transactions that are available.
Tips to stay on top of your finances during the coronavirus pandemic
Tips for staying on top of your finances during the coronavirus pandemic, particularly if you’ve dodged income loss or major expenses.
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