On February 23, 2023, the Bureau issued an order against TitleMax parent company TMX Finance LLC, which extends consumer loans that are secured by the title to the borrower’s car.
Payday loans are short-term, high-cost loans made in exchange for a commitment to repayment from the person's next paycheck. According to reports from the...
If you are behind on your auto loan payments, it’s important to take steps to reduce the chance of falling further behind.
Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights that reports on unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets, including in mortgage, student, and payday lending.
The CFPB issued a report finding that some residential solar lenders are misleading homeowners and cramming markup fees into borrowers’ loan balances.
I am pleased to join Secretary King and Deputy Secretary Raskin to take this step toward reforming the student loan servicing market. This is an important...
On August 2, 2023, the Bureau filed a lawsuit against USASF Servicing, LLC, an auto-loan servicer headquartered in Lawrenceville, Georgia.
A down payment is an initial, upfront payment you make towards the total cost of the vehicle and could lower the amount that you’ll need to finance.
Consumer credit markets in September were still far from their normal operation prior to the pandemic. This blog posts compares the actual volume of credit inquiries to their usual pre-pandemic volume. Credit card and auto loan inquiries remain depressed, while new mortgage inquiries are above their usual level.
A buy rate is the interest rate that a financial institution quotes to the dealer when you apply for dealer-arranged financing.
Industry Inquiry Reveals Problems for Consumers Seeking to Prevent Auto-Defaults Today the Bureau Student Loan Ombudsman released a report finding high...
Unfair practices – failing to provide refunds of unearned premiums for add-on products and miscalculation of add-on product refunds.
Today, we are releasing our fourth report on this market, which is a study of single-payment auto title loans. Our study analyzed nearly 3.5 million loans...
Some loans and credit cards can help you safely build, or rebuild, your credit history.
The Money as You Grow book club is a way to start money conversations with children. Use our Parent Guides for key ideas, questions, and activities.
A loan’s interest rate is the cost you pay to the lender for borrowing money.
One of the first choices you will make in the car buying process is whether to buy a new or used car. While we can’t make that choice for you, here are some things to keep in mind when making your choice.
The government filed an amicus brief with the U.S. Court of Appeals for the Fourth Circuit arguing that the Military Lending Act covers a loan issued to a...
New CFPB research analyzes how increased car prices are impacting the most economically vulnerable consumers.
An auto lender considers several factors – including your credit score, your credit history, income, debts, and down payment – when deciding what interest rate to offer you.
