Today, the Consumer Financial Protection Bureau (Bureau) announced the launch of Consumer Financial Protection Week, which will take place from July 14, 2020, through July 17, 2020. Consumer Financial Protection Week will focus on how the Bureau is protecting consumers in the financial marketplace, the issues consumers are confronting, as well as informing consumers of how they can communicate to the Bureau any issues that they may have with a financial services provider.
“Protecting consumers in the financial marketplace is a key priority of mine as Director. We have been working for many months now on developing and launching Consumer Financial Protection Week with the mission of informing consumers of their protections in the financial marketplace, the remedies that exist, and how the Bureau is working on their behalf,” said CFPB Director Kraninger. “I look forward to the panel discussions that will take place during the week.”
Under the leadership of Director Kraninger, the Bureau has focused on using all of the tools Congress provided to protect consumers, including:
- Providing clear rules of the road through rulemaking
- Creating a culture of compliance
- Enforcing the law against bad actors
- Educating and empowering consumers to make better informed financial decisions
The Bureau is focused on preventing consumer harm while promoting, protecting, and preserving financial well-being of the American consumers. The Bureau is also focused on ensuring consumer choice through a fair, transparent, and competitive marketplaces that promote increased access to financial products and ultimately support the consumer.
During Consumer Financial Protection Week, the Bureau will host, or participate, in the following events:
Tuesday, July 14, 2020
Milken Institute virtual town hall with CFPB Director Kraninger
Director Kraninger will participate in a virtual town hall as part of the Milken Institute’s Summer Series. This will be a one-on-one fireside chat with Eric Kaplan, Vice Chair of the Bureau’s Consumer Advisory Board and Director of the Milken Institute Center for Financial Markets Housing Finance Program.
Special populations presentation
The Bureau will highlight its special population programs for vulnerable populations, including servicemembers and older Americans. The Bureau will also discuss research on credit builder loans and how thin-file consumers can protect their credit scores in challenging times.
Wednesday, July 15, 2020
Home Mortgage Disclosure Act (HMDA) data browser
The Bureau will provide an overview of HMDA data and the revamped HMDA Data Browser tool, and how to use the Bureau’s Data Browser tool to explore the reported data.
Paying for College tool
The Bureau will launch the revamped Paying for College tool.
Thursday, July 16, 2020
Conducting supervisory and enforcement work during a pandemic
This is a discussion about the Bureau’s prioritized assessment approach and how the Bureau is monitoring markets and institutions that may pose the greatest risk of consumer harm as a result of pandemic-related issues.
Taskforce public hearing
The Taskforce will present a high-level overview of the Taskforce’s mission, highlight trends from the comments received from the Request for Information and other public research. The hearing will also include a panel discussion with external experts in federal financial consumer law.
Friday, July 17, 2020
Consumer response trends capability tool launch and demo
The Office of Consumer Response will present the latest enhancements to the Bureau’s public-facing Consumer Complaint Database, including an all new trends feature that will enable users to view and analyze complaint data over time to help the marketplace understand current and recent conditions.
National Diversity Coalition “virtual coffee break” with Director Kraninger
Director Kraninger will participate in a “virtual coffee break” with the National Diversity Coalition and the National Asian American Coalition to discuss consumer protections related to mortgages and COVID-related issues.