CFPB: Tips for Student Loan Borrowers
We frequently hear from borrowers and cosigners, including veterans and servicemembers, who are working hard to stay on track and pay off their student loans but are struggling to get the information and the help they need from their student loan servicer. With this in mind, we put together these tips to help consumers tackle…
CFPB: Easy-to-Remember Guidelines Help People Reduce Credit Card Debt
Take a short guideline like “don’t swipe the small stuff” and make it your own. You might just find that you’re better able to control your own credit card debt. Have you ever looked at your credit card bill and wondered where all those charges came from? Or found yourself swiping your credit card for…
FHFA: Public Input Requested on Duty to Serve Program
Washington, D.C. – The Federal Housing Finance Agency (FHFA) is requesting public input on chattel loan pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) and the proposed Evaluation Guidance under the final rule on Duty to Serve Underserved Markets. FHFA issued a final rule on Dec. 13, 2016 to implement the Duty to…
CFPB: Survey Finds Over One-in-Four Consumers Contacted by Debt Collectors Feel Threatened
CFPB Also Releases Study of Consumer Risks in Online Debt Sales, Consumer Stories of Debt Collection Experiences WASHINGTON, D.C. – A Consumer Financial Protection Bureau (CFPB) report released today found that over one-in-four consumers contacted by debt collectors felt threatened. The report was drawn from the first-ever national survey of consumer experiences with debt collectors. Over…
CFPB: Buy a Home? The First Step is to Check your Credit
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: Four Tips to Help Older Student Loan Borrowers Navigate Common Problems with their Student Loans
Today, we released a report that shows that older Americans now carry an unprecedented amount of student loan debt into retirement. The report shows that over the last decade, the number of older student loan borrowers has quadrupled in the United States. The amount that these borrowers owe has also dramatically increased. Between 2005 and 2015, consumers…
CFPB: Student Loan Servicing Problems Can Jeopardize Long-Term Financial Security for Older Borrowers
Growing Concerns as Number of Older Student Loan Borrowers Quadruples, Amount of Debt Per Senior Borrower Doubles in Last Decade WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a report that examines complaints from older student loan borrowers about servicing practices that can jeopardize their long-term financial security. In the last decade, the…
CFPB: Fair Lending Priorities in the New Year
We recently marked the 40th anniversary of the Equal Credit Opportunity Act, a federal civil rights law that protects you from being discriminated against by lenders. As the holidays approach and we prepare for a new year, I wanted to let you know about key areas where the CFPB’s fair lending team will focus in…
CFPB: Fall 2016 Rulemaking Calendar
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…
FDIC: New Resource Announced for Community Banks – Affordable Mortgage Lending Guide Part II
The Federal Deposit Insurance Corporation (FDIC) published a new guide to help community bankers learn more about grant and mortgage loan programs offered by State Housing Finance Agencies. The Affordable Mortgage Lending Guide, Part II: State Housing Finance Agencies describes programs offered by State Housing Finance Agencies across the country. The guide focuses on first-lien mortgage…