CDFB: Private Education Loan Ombudsman Issues 2019 Annual Report

The Consumer Financial Protection Bureau (Bureau) Private Education Loan Ombudsman issued today the 2019 Annual Report showing that from September 1, 2017 through August 31, 2019 the Bureau handled approximately 20,600 complaints related to private or federal student loans. Of these, there were approximately 6,700 private student loan complaints and […]

CFPB: Agency Issues Final HMDA Rule to Provide Relief to Smaller Institutions

The Consumer Financial Protection Bureau (Bureau) today issued a rule which finalizes certain aspects of its May 2019 Notice of Proposed Rulemaking under the Home Mortgage Disclosure Act (HMDA). It extends for two years the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA. […]

CFPB: Advisory Committee Members Announced

Consumer Financial Protection Bureau Director Kathleen L. Kraninger today announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). These experts advise Bureau leadership on a broad range of consumer financial issues and emerging […]

CFPB: Additions to Executive Team Announced

The Consumer Financial Protection Bureau (Bureau) today announced the following additions to its executive team:  Desmond Brown will serve as the Deputy Associate Director for the Consumer Education and Engagement Division. Mr. Brown has more than two decades of experience working with national and local organizations to increase financial well-being and […]

CFPB: Bureau to Enhance Consumer Complaint Database

Today the Consumer Financial Protection Bureau (CFPB) announced that it will continue the publication of consumer complaints, data fields and narrative descriptions through the Bureau’s Consumer Complaint Database while making several enhancements to the information available to users of the database. The enhancements include: modified disclaimers to provide better context […]

CFPB: Bureau and State Regulators Launch American Consumer Financial Innovation Network

The Consumer Financial Protection Bureau (Bureau), working in partnership with multiple state regulators, launched the American Consumer Financial Innovation Network (ACFIN), a network to enhance coordination among federal and state regulators to facilitate financial innovation. The Bureau invited all state regulators to join ACFIN, and the initial members of ACFIN […]

CFPB: Policies Issued to Facilitate Compliance and Promote Innovation

First No-Action Letter Issued to HUD Housing Counseling Agencies  The Consumer Financial Protection Bureau (Bureau) today issued three new policies to promote innovation and facilitate compliance: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and Compliance Assistance Sandbox (CAS) Policy. The Bureau proposed the policies in 2018 and […]

CFPB: Tax Time Savings Pilot Study Research Released

The Consumer Financial Protection Bureau (Bureau) released today the results of a pilot study, Planning for tax-time savings, launched with the tax preparation company H&R Block that shows that simple messages encouraging customers to use their prepaid card to save at tax time increased the likelihood that they would do […]

CFPB: Fourth Biennial Report on the State of the Credit Card Market Released

The Consumer Financial Protection Bureau (Bureau) today released its fourth biennial report on the state of the credit card market for the period 2017-2018.  In 2009, the Credit Card Accountability Responsibility and Disclosure Act (Act) made substantial changes to the legal requirements applicable to the credit card market, with Section […]

CFPB: Advanced Notice of Proposed Rulemaking on Qualified Mortgages Released

The Consumer Financial Protection Bureau (Bureau) today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for purchase or guarantee by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, in the […]