CFPB: Try One Thing This Summer to Grow Your Child’s Money Skills
Your children go to school to learn math, reading, history, and more. But all year round, they’re absorbing money habits, skills, and attitudes from you. This summer, we challenge you to try one thing that encourages money conversations with your kids. This chart shows ways you can help your children build money skills that can…
CFPB: Spring 2017 Rulemaking Agenda
An important part of the CFPB’s statutory mandate from the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) is to make rules governing consumer finance markets more effective and to create new rules when warranted. Under the Regulatory Flexibility Act, federal agencies must publish regulatory agendas twice a year. As an independent regulatory…
CFPB: How to Help Employees Improve Their Financial Well-Being
Here are eight steps business and HR leaders can take to create a financial wellness program at their workplace. By Dubis Correal Day after day, employees arrive at work carrying the stresses of their lives, and money issues can be part of their stress. Maybe one of your employees has a past-due medical bill…
CFPB: Building Credit at a Local Level
By Sarah Bainton Kahn We recently published a report on ways people without a credit history start building one. In order to bring visibility to this issue and spur action at the local level, we’re releasing credit profiles on states and cities across the country. A person is considered “credit invisible” if they do not…
CFPB: Rule Issued to Ban Companies from Using Arbitration Clauses
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today announced a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court. Many consumer financial products like credit cards and bank accounts have arbitration clauses in their contracts that prevent consumers from joining together to sue their…
ABA: Mortgage Borrowers Want Both Technology and In-Person Services
Survey also found down payment, student debt preventing home purchases WASHINGTON — A majority of Americans (60 percent) agree that while they use online resources for research, they prefer to apply for a mortgage in person, according to a new survey from the American Bankers Association. Seventeen percent said they would prefer to apply for…
CFPB: Comment on Proposed Changes to Prepaid Rules
Proposal Would Adjust Error Resolution Requirements and Provide More Flexibility for Credit Cards Linked to Digital Wallets WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) announced today that it is seeking comment on proposed updates to its prepaid rule. The CFPB issued the prepaid rule in 2016, requiring financial institutions to limit consumers’ losses when…
CFPB: More than Just Fun – Summer Money Matters for Young Workers
Each summer, millions of young people get their first job. With every first job comes a first paycheck, and that first paycheck is an opportunity for young workers to develop their own financial skills. This important milestone is often when young people first take control of their finances, make choices about various financial products, and…
CFPB: Helping People Plan of Retirement
With help, consumers can better visualize outcomes, plan their decision-making, and make the best decisions about their retirement finances. By Irene Skricki In a recent study, we tested ways to help people better visualize the results of their retirement choices and plan ahead for significant decisions. When people approach retirement age, they have to make…