CFPB: Add Your Company to the List of Sources for Free Credit Scores
If your company offers free credit scores and would like to be included on our list, respond to our recently posted Federal Register Notice. By Maria Jaramillo When people have access to their credit score, they can feel empowered to better manage their financial lives. They can do this by learning about their credit…
CFPB: How to Spot a Scammer
Have you been contacted by someone claiming to be from a government agency who says you’ve won a cash prize? Has someone claiming to be a federal government employee called and threatened you with jail time or a lawsuit if you don’t pay a debt? If so, there’s a good chance it’s a scam. Criminals…
CFPB: Tips for Servicemembers with Student Debt
The unique nature of life in the military can create financial challenges for servicemembers. This is especially true for servicemembers with student loans. We routinely hear from servicemembers who enter military service not simply with student loans, but because of them. And yet, military borrowers continue to tell us about the obstacles they face when…
CFPB: Report Finds Sharp Increase in Riskier Longer-Term Auto Loans
Six-Year Auto Loans Carry Higher Costs and Higher Default Rates than Five-Year Auto Loans The Consumer Financial Protection Bureau (CFPB) today released a report on auto loan trends that found a sharp increase in riskier longer-term auto loans. According to the report, 42 percent of auto loans made in the last year carried a payback…
CFPB: Newly Available Data Shows Lowest Mortgage Delinquency Rate Since the Financial Crisis
Newly Available Data Shows Lowest Mortgage Delinquency Rate Since the Financial Crisis The Consumer Financial Protection Bureau (CFPB) today announced the launch of a new Mortgage Performance Trends tool that tracks delinquency rates nationwide. Information newly available through this tool shows that mortgage delinquency rates nationally are at their lowest point since the financial crisis….
CFPB: Seeking Feedback on Draft Strategic Plan FY 2018-2022
CFPB is required to produce a new strategic plan that establishes our mission, strategic goals, and strategic objectives for the next five years. We have posted a draft strategic plan for fiscal years 2018 to 2022 , and we invite your feedback. Please send your comments on our draft strategic plan to strategy@cfpb.gov by Nov. 18, 2017.
CFPB: Principles Outlined for Consumer-Authorized Financial Data Sharing and Aggregation
The Consumer Financial Protection Bureau (CFPB) today outlined principles for protecting consumers when they authorize third party companies to access their financial data to provide certain financial products and services. These principles are intended to help foster the development of innovative financial products and services, increase competition in financial markets, and empower consumers to take…
CFPB: Rule Finalized To Stop Payday Debt Traps
Lenders Must Determine If Consumers Have the Ability to Repay Loans That Require All or Most of the Debt to be Paid Back at Once The Consumer Financial Protection Bureau (CFPB) today finalized a rule that is aimed at stopping payday debt traps by requiring lenders to determine upfront whether people can afford to repay…
CFPB: eClosing And Buying A Home: Technology’s Role In Closing On A Mortgage
By Noerena Limón Technology is transforming everything; it is changing the way we communicate, the way we access goods and services, and even the way we purchase homes. Soon, more and more consumers may increasingly find themselves being offered technology that allows them to access, sign, and submit mortgage closing documents online. We believe that…
CFPB: Not Sure How To Talk Money With Your Kids? Start By Playing To Your Strengths
You might have reasons that you haven’t yet started to talk about money with your children. It might feel awkward, boring, preachy, or difficult. You might not know where to start, or when it’s the right time. But you probably know it’s important to start. We have tips to help You can have conversations that…