As interest rates increased in 2022, the number of refinance mortgage originations declined, with cash-out refinances becoming a larger share of all refinances. Cash-out refinances exacerbated the 2008 financial crisis, but regulatory and market developments may have changed the risks of cash-out refinances to consumers and the mortgage market. AContinue Reading

The CFPB has submitted input on a proposal by the California Department of Financial Protection and Innovation explaining states’ critical role in oversight of providers of consumer financial products and services.

The CFPB Ombudsman’s Office shares its FY2023 Annual Report.

Individual lenders can apply to enroll in a testing pilot of alternative, tailored disclosures for construction loans designed to improve consumer understanding of loan terms and costs.

845 consumers will receive checks from a lawsuit against the owner of a student loan debt-relief company that withdrew hundreds of thousands of dollars from borrowers without authorization.

Consumidores recibirán cheques de demanda contra compañía de alivio de deuda de préstamos estudiantiles que tomó miles de dólares de sus prestatarios sin su autorización.

The CFPB works to protect servicemembers in the financial market, engage military stakeholders, and monitor the market to identify risks to servicemembers, veterans, and military families.

On November 1, the Appraisal Subcommittee – which has a seven-member federal agency board including the CFPB – will hold its next public hearing to discuss the challenges and solutions to preventing bias in the home appraisal process. Members of the public are encouraged to attend.

The CFPB will continue to take steps to ensure that all consumers, including immigrants, have equal access to credit opportunities.