This notice proposes changes to the Remittance Rule to mitigate the expiration of an exception that allows insured institutions to estimate certain costs associated with sending a remittance transfer to increase the normal course of business safe harbor.
In March 2023, the failures of Silicon Valley Bank and Signature Bank threatened to create cascading stress throughout the banking system and inflict serious damage on the economy.
This is the first episode of a three-episode “managing your money series,” which will discuss tips about how to financially prepare to pay for higher education and key financial questions you should explore before making a college or higher education decision.
Thank you for joining our forum to explore how consumers are affected by checking account screening policies and practices. Today we will look at how these...
Plan ahead for your financial future or help a loved one who is starting to lose the ability to manage their money or property.
Today’s hearing is focused on the Bureau’s efforts to combine the various federal disclosures that consumers receive when taking out a mortgage loan.
On December 22, 2020, the Bureau issued a consent order against Discover Bank, The Student Loan Corporation, and Discover Products, Inc. (collectively, Discover). Discover Bank, headquartered in Greenwood, Delaware, is an insured depository institution that provides and services private student loans.
For remittances that occur on or after July 21, 2020, and before January 1, 2021, the Bureau does not intend to cite in an examination or initiate an enforcement action in connection with the disclosure of actual third-party fees and exchange rates against any insured institution that will be newly required to disclose actual third-party fees and exchange rates after the temporary exception expires and instead continues to provide estimated disclosures that would have been allowed under the temporary exception.
The Board of the Federal Reserve System, Bureau of Consumer Financial Protection, Federal Deposit Insurance Corporation, National Credit Union Administration, and the Office of the Comptroller of the Currency are gathering information and comments on financial institutions' use of artificial intelligence (AI), including machine learning (ML).
Thank you to President Jim Bullard and everyone at the Federal Reserve Bank of St. Louis for inviting me to speak today on the impact of rising student debt...
The Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency are issuing this statement to specifically encourage financial institutions to offer responsible small-dollar loans to both consumers and small businesses.
Chairman Crapo, Ranking Member Brown, and distinguished Members of the Committee, thank you for the opportunity to present the Consumer Financial Protection Bureau’s most recent Semi-Annual Report to Congress.
Today, we are pleased to report that we firmly believe in the importance of making prices clearer, making risks more obvious, and cutting back on the fine...
Some of these companies, called specialty consumer reporting agencies, compile and sell reports with all kinds of personal data including, but not limited to, the history of your employment, rental, banking, lending, insurance, and criminal background. This includes other public record data such as tax liens, civil suits and bankruptcy data. We’ve got a list of consumer reporting agencies, so you can fact-check them to ensure your personal report data is accurate and complete.
Reverse mortgage loans typically must be repaid either when you move out of the home or when you die. However, the loan may need to be paid back sooner if the home is no longer your principal residence, you fail to pay your property taxes or homeowners insurance, or do not keep the home in good repair.
Thank you to the American Constitution Society for inviting me to speak today as part of the Access to Justice Series. I have a deep appreciation for the...
Over one-third of the complaints that older consumers submit to us are related to debt collection. In some of these complaints, consumers told us that debt collectors threatened to garnish their benefits from Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and VA benefits, even though these funds usually can’t be garnished. Here’s important information about how these benefits are protected from garnishment.
I'd like to talk to you about how the mission of the CFPB is to help consumer finance markets actually work – for American families, for financial services...
The tool helps students with financial aid offers decide whether to enroll in a specific school and how to pay for it, using data and guidelines. This page explains where and how we got those numbers and guidelines.
Thank you for having me today and I bring all of you good tidings of great joy for the new year. If you are like me, change comes hard and I will still find...
