Blog archive

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.

Credit card delinquencies increased rapidly since 2021 and are higher than in 2019. We show this increase is explained by lenders effectively loosening lending standards.

The CFPB is examining how financial institutions market their products to healthcare providers.

Servicemembers have submitted over 400,000 complaints to the CFPB to get help with financial problems including problems with the Servicemember Civil Relief Act. The CFPB helps them get the answers and also enforces the law when necessary, returning $183 million in relief to the military community since 2011.

From flights to rental cars to amusement park tickets, it can feel like there's too much fine print and too many junk fees not included in the upfront price. Some argue that a wide array of pricing options gives consumers more choice, but recent research from the CFPB suggests that complex pricing leads consumers to fare worse and pay higher prices.

The annual percentage rate (APR) margins, the amount of interest credit card issuers charge cardholders on top of benchmark rates, have reached an all-time high.

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.

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

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.

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.

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.

This week, CFPB filed a friend-of-the-court brief to protect consumers’ funds from unauthorized withdrawals by credit card companies.

Modernizing how CFPB collects and shares certain credit card data to make it easier for people to shop for the best option, and to increase competition.

A new analysis finds that credit card interest rates continue to rise even though risks to the industry continue to drop and profitability increases.

Housing costs rose rapidly last year but some people experience this inflation more than others. New research shows that low-income renters’ credit card debt increased sharply last year.

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.

Accurate and complete information on your credit card payments can be a valuable tool to accessing fair credit – but credit card companies are suppressing this information.

As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices.

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.

From 2018 to 2020, the CFPB estimates that Americans paid roughly $120 billion per year in credit card interest and fees. That works out to about $1,000 per year for every American household.

New analysis in our Making Ends Meet series shows consumers’ finances improved during the pandemic as pandemic policies protected consumers.

Adjustable-rate mortgages, student loans, HELOCs, reverse mortgages and credit cards that are tied to a LIBOR index, which is expiring. Learn how this change could impact your interest rate.

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.