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.

The CFPB is working to identify and address the financial needs of immigrant consumers.

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.

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.

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.

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.

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.