Buy Now Pay Later and Credit Reporting
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.
CFPB publishes Beginner’s Guide to Accessing and Using Home Mortgage Disclosure Act Data
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
Protecting servicemembers from abuses of the military allotment system
Companies located outside military bases sometimes target servicemembers with costly loans and expensive contracts. They also capitalize on the military’s unique payment system.
Loan Cancellation for Student Loan Borrowers Who Attended Corinthian Colleges
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.
Credit disputes: getting a clear statement of results from your furnisher
When you dispute credit information with your bank or other furnisher, you should get a clear and understandable response stating a result.
Explainer: What is nonbank supervision?
The CFPB examines financial companies for compliance with Federal law, to protect consumers and maintain well-functioning markets.
FFELP student loan borrowers: take full advantage of fixes to Income-Driven Repayment
The Education Department is making important fixes to income-driven repayment this year. These fixes will help borrowers reach loan forgiveness sooner. Borrowers with Commercial FFELP loans must consolidate your loans in order to benefit from these changes.
CFPB tells credit card CEOs: Practice of suppressing payment data has potential for consumer harm
Our research shows that credit card companies are suppressing data and information on exact payment amounts repaid by borrowers. A new letter to the CEOs seeks to find out why.
CFPB launches new system to promote consistent enforcement of consumer financial protections
The CFPB is beginning a new system of Consumer Financial Protection Circulars to provide guidance to enforcers of federal consumer financial law and to increase transparency for the public and regulated entities.
Improving how the CFPB gathers feedback
At the CFPB, we are committed to delivering trustworthy, impartial, accurate and timely information to the people we serve. To maintain this commitment we provide clear, impartial answers to hundreds of financial questions on Ask CFPB. Ask CFPB offers information you can use to make more informed choices about yourContinue Reading