CPFB: Extension Proposed to Prepaid Account Rule’s Effective Date
Today, we released a proposal to delay the effective date of our rule governing prepaid accounts by six months. The CFPB’s prepaid accounts rule will provide strong consumer protections and we want the rule to become effective as soon as possible. However, through our efforts to support industry implementation, we have learned that some industry participants believe they will…
CFPB: Check Out New List to See if Your Credit Card Offers you Free Access to One of Your Credit Scores
Take a first step toward learning more about your credit history by checking your credit scores and credit reports. Today we released a list of several companies that told us they offer existing credit card customers free access to one of their credit scores. Until recently, consumers couldn’t easily access their credit scores and often had to…
CFPB: How to Deal with “Bad Credit” – or No Credit – When You Want to Buy a Home
Buying a home is exciting. It’s also one of the most important financial decisions you’ll make. Choosing a mortgage to pay for your new home is just as important as choosing the right home. You have the right to control the process. Check out our other blogs on homebuying topics, and join the conversation on Facebook…
CFPB: Managing Your Spending to Achieve Your Goals
Getting feedback on spending can help you keep your spending in check. Have you ever lost track of how much money you spent during the week, and ended up spending more than you meant to? If you’re having trouble sticking to a budget or saving money, you are not alone. According to consumer marketing research,…
CFPB: Get Money Smart
Here at the CFPB, we wish every week could be Money Smart Week! Our goal is to arm people with the information, steps, and tools that they need to make informed financial decisions for their personal situation and goals. From setting up a bank account to taking out a student loan, we know it’s helpful to have trustworthy…
CFPB: Using alternative data to evaluate creditworthiness
Without credit, it is nearly impossible to buy a home or start a business. People face barriers to accessing credit or have to pay more for credit for several reasons. Some people have negative items, such as a record of late payments, on their credit report. Other people have trouble documenting their income. Still others…
CFPB: Bureau Explores Impact of Alternative Data on Credit Access for Consumers Who Are Credit Invisible
CFPB Seeks Public Feedback on Benefits, Risks of Using Unconventional Sources to Extend Affordable Credit to Consumers Lacking Credit History WASHINGTON, D.C. – The Consumer Financial Protection Bureau today launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score….
CFPB: Tax Time Savings Tips
If you’re feeling like you just can’t get ahead, saving at tax time may help you get started. Saving throughout the year can be tough. It may feel like every paycheck is spent before you get it. You might not have access to an easy way to save, like a separate account or automatic deposit…