Consumers on course to save $1 billion in NSF fees annually, but some banks continue to charge these fees
A number of large banks are eliminating non-sufficient fund (NSF) fees on checking accounts, cutting total NSF fee volume by about 50%, or $1 billion, annually. Other banks continue to charge these fees. The Bureau is closely scrutinizing whether and when charging these fees may be unlawful.
Busting myths about bankruptcy and private student loans
It is a myth that student loans are not dischargeable in bankruptcy. Some private student loans require a showing of “undue hardship” and an adversary proceeding within the bankruptcy in order for the loans to be discharged, while other types of student loans are treated the same as other unsecuredContinue Reading
Know your rights and protections when it comes to medical bills and collections
When you get billed for medical treatment, know what protects your credit standing and how to steer clear of pitfalls.
Are you getting the help with your medical bills you are entitled to?
Nonprofit hospitals are required to offer financial assistance programs to help people cover the cost of medical care. Other medical providers might also offer similar assistance.
Climate risk should be considered in housing decisions
Flooding, fire, drought, and other climate risks have always been a danger to property and safety. However, with the changing climate, these risks are increasing, impacting the probability of damage, cost of utilities, price of insurance, and potential resale value of homes.
Helping borrowers hold mortgage servicers accountable
This week, we filed a friend-of-the-court brief to protect borrowers’ rights under federal law to obtain vital information about their mortgage loans from servicers.
Overdraft fees can price people out of banking
People dealing with frequent overdraft fees may face a difficult and expensive uphill climb. These fees are often assessed for reasons people do not expect or understand, take a heavy toll on families living paycheck to paycheck, and in some cases ultimately drive people out of banking altogether.
CFPB Extends Opportunity for Public to Provide Input on Junk Fees
The Consumer Financial Protection Bureau (CFPB) announced today that it will extend the deadline for the public to share input and stories on their experiences with exploitative junk fees through April 11, 2022.
The Fed is raising interest rates. What does that mean for borrowers and savers?
As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices.
Cracking down on discrimination in the financial sector
Vigorous enforcement of the laws protecting against discrimination is essential for us to achieve broader equity and opportunity. The CFPB will prioritize enforcement of the Equal Credit Opportunity Act and its other authorities to ensure no one is discriminated against in connection with a consumer financial product or service.