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Overdraft fees can price people out of banking

https://www.consumerfinance.gov/about-us/blog/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.

Highlights of Director Kraninger’s First Six Months

https://www.consumerfinance.gov/about-us/newsroom/highlights-director-kraningers-first-six-months/

June 11th marks the first sixth months of Director Kathleen L. Kraninger leading the Consumer Financial Protection Bureau.

Submit a complaint

https://www.consumerfinance.gov/complaint/

Find information and tools to submit a consumer complaint to the Consumer Financial Protection Bureau.

CFPB Financial Education Exchange (CFPB FinEx)

https://www.consumerfinance.gov/consumer-tools/educator-tools/adult-financial-education/cfpb_finex/

Explore our training webinars to help you improve your practice, as well as our tools and resources that you can share with clients.

Considering an early retirement withdrawal? CARES Act rules and what you should know.

https://www.consumerfinance.gov/about-us/blog/cares-act-early-retirement-withdrawal/

The CARES Act temporarily changes the rules for withdrawing from your retirement accounts. Learn more about how these changes might affect you and whether withdrawing from your retirement accounts makes sense for you.

Online Resources

https://www.consumerfinance.gov/consumer-tools/educator-tools/library-resources/online-resources/

Build a customized list of financial resources for your library with these websites, videos, and courses from federal government agencies, national nonprofit organizations, and state and local resources.

Remarks of Deputy Director Zixta Martinez at Consumer Advisory Board Meeting

https://www.consumerfinance.gov/about-us/newsroom/remarks-deputy-director-zixta-martinez-consumer-advisory-board-meeting/

Deputy Director Zixta Martinez remarks at the November 3, 2021 CAB meeting.

What to consider when sharing your financial data

https://www.consumerfinance.gov/about-us/blog/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 protections when it comes to automatic debit payments from your account

https://www.consumerfinance.gov/about-us/blog/you-have-protections-when-it-comes-to-automatic-debit-payments-from-your-account/

Before you give anyone your bank account number and permission to automatically withdraw money from your bank account on a regular basis, it's good to know...

Written Testimony of Kathleen L. Kraninger before the House Committee on Financial Services

https://www.consumerfinance.gov/about-us/newsroom/kathleen-kraninger-written-testimony-house-committee-financial-services/

Chairwoman Waters, Ranking Member McHenry, and distinguished Members of the Committee, thank you for the opportunity to present the Consumer Financial Protection Bureau's (Bureau's) most recent Semi-Annual Report to Congress.

Remarks of Associate Director Karen Andre at Combined Community Bank Advisory Council and Credit Union Advisory Council Meeting

https://www.consumerfinance.gov/about-us/newsroom/remarks-associate-director-karen-andre-combined-community-bank-advisory-council-and-credit-union-advisory-council-meeting/

Associate Director Karen Andre remarks at the November 4, 2021 combined CBAC and CUAC meeting.

Banks’ overdraft/NSF fee revenues evolve along with their policies

https://www.consumerfinance.gov/about-us/blog/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.

Recent updates

https://www.consumerfinance.gov/activity-log/

Find the latest Bureau activities and publications.

Banks’ overdraft/NSF fee revenue declines significantly compared to pre-pandemic levels

https://www.consumerfinance.gov/data-research/research-reports/banks-overdraft-nsf-fee-revenue-declines-significantly-compared-to-pre-pandemic-levels/

Since late 2021, several banks have announced changes to their overdraft programs that have been expected to result in reductions in overdraft/non-sufficient fund (NSF) fee revenue.

Written Testimony of CFPB Director Richard Cordray Before the House Committee on Financial Services

https://www.consumerfinance.gov/about-us/newsroom/written-testimony-of-cfpb-director-richard-cordray-before-the-house-committee-on-financial-services-20160316/

Chairman Hensarling, Ranking Member Waters, and Members of the Committee, thank you for the opportunity to testify today about the Bureau's Semi-Annual...

Written Testimony of CFPB Director Richard Cordray Before the Senate Committee on Banking, Housing, and Urban Affairs

https://www.consumerfinance.gov/about-us/newsroom/written-testimony-of-cfpb-director-richard-cordray-before-the-senate-committee-on-banking-housing-and-urban-affairs-20160407/

Chairman Shelby, Ranking Member Brown, and Members of the Committee, thank you for the opportunity to testify today about the Bureau's Semi-Annual Report to...

Consumer Financial Protection Circular 2022-05: Debt collection and consumer reporting practices involving invalid nursing home debts

https://www.consumerfinance.gov/compliance/circulars/circular-2022-05-debt-collection-and-consumer-reporting-practices-involving-invalid-nursing-home-debts/

Can debt collection and consumer reporting practices relating to nursing home debts that are invalid under the Nursing Home Reform Act violate the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA)?

Providing equal credit opportunities (ECOA)

https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/equal-credit-opportunity-act/

Resources to help industry understand, implement, and comply with the fair lending requirements of the Equal Credit Opportunity Act (ECOA) and Regulation B.

Vast majority of NSF fees have been eliminated, saving consumers nearly $2 billion annually

https://www.consumerfinance.gov/data-research/research-reports/vast-majority-of-nsf-fees-have-been-eliminated-saving-consumers-nearly-2-billion-annually/

CFPB recently analyzed the NSF fee practices of a number of banks and credit unions, finding that most large earners of NSF fee revenue have eliminated these fees, saving consumers nearly $2 billion annually.

Written Testimony of Kathleen L. Kraninger, Director, Consumer Financial Protection Bureau, Before the House Committee on Financial Services

https://www.consumerfinance.gov/about-us/newsroom/written-testimony-kathleen-l-kraninger-house-committee-financial-services/

The Bureau presents Semi-Annual Reports to Congress and the American people in fulfillment of its statutory responsibility and commitment to accountability and transparency. The Bureau’s Spring 2019 (October 1, 2018, to March 31, 2019) Semi-Annual Report meets this mandate.