Beginning on Tuesday, July 5, we’re accepting applications to serve on our four advisory committees, which provide insight and advice as we carry out our work. Applications are due by July 24, 2022. Credit Union Advisory Council, Community Bank Advisory Council, Consumer Advisory Board, Academic Research Council. Please follow andContinue Reading
Access to credit plays a critical role in financial resiliency, especially during an economic downturn. Credit card companies used credit card line decreases to reduce their credit exposure during the Great Recession and the COVID-19 pandemic. New research explores the impact of credit line decrease decisions on consumers. Please followContinue Reading
The CFPB is working to identify and address the financial needs of immigrant consumers. Please follow and like us:
The CFPB is seeking public comments about debt that workers take on to pay for trainings, equipment, or other items or services required by their employer. Please follow and like us:
Markets work best when rules are simple, easy to understand, and easy to enforce. The CFPB is seeking to move away from highly complicated rules that have long been a staple of consumer financial regulation and towards simpler and clearer rules. In addition, the CFPB is dramatically increasing the amountContinue Reading
Banks and credit unions heavily rely on fees from overdrafts and non-sufficient funds transactions. We’ve launched a supervisory effort to measure the impact of overdraft practices on consumers. Please follow and like us:
Consumers’ Buy-Now-Pay-Later repayment data is starting to be furnished to the nationwide credit reporting companies. A standardized approach would promote consistency and accuracy. Please follow and like us:
We’ve published a Beginner’s Guide to Accessing and Using Home Mortgage Disclosure Act Data, a resource for those interested in using these comprehensive data on the U.S. mortgage market. The Guide covers the basics of what HMDA data are and how to access them, as well as a step-by-step guideContinue Reading
Companies located outside military bases sometimes target servicemembers with costly loans and expensive contracts. They also capitalize on the military’s unique payment system. Please follow and like us:
The U.S. Department of Education announced the cancellation of $5.8 billion in federal student loans for 560,000 individuals who borrowed to attend schools owned by Corinthian Colleges, the for-profit college conglomerate that is now defunct. Please follow and like us:
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