CFPB: Latest List of Consumer Reporting Companies Published
You may know that your credit record affects your ability to get an affordable loan, a job, an apartment, or many other essentials of daily life. But, do you know where and how to actually request your credit report and what you can do once you order your consumer reports? Over the past few years,…
CFPB: Bureau Releases Sixth Annual Report from the Office of Servicemember Affairs
I am pleased to offer the sixth annual report from the Office of Servicemember Affairs (OSA) highlighting issues and emerging trends facing servicemembers, veterans, and military families (collectively referred to as “servicemembers” in this report). The Consumer Financial Protection Bureau (CFPB) and the OSA are committed to ensuring that servicemembers have high levels of financial…
CFPB: Bureau Asks Congress for Clear Authority to Supervise for Compliance with the Military Lending Act
Consumer Financial Protection Bureau Director Kathleen L. Kraninger today issued the following statement announcing that she has asked Congress to grant the CFPB clear authority to supervise for compliance with the Military Lending Act (MLA). “The Bureau is committed to the financial well-being of America’s service members. This commitment includes ensuring that lenders subject to…
CFPB: Credit Score Myths that Might Be Holding You Back from Improving Your Credit
Improving your credit is possible, but it’s hard to know where to start. There’s a lot of misleading information out there, and these credit myths can get in the way of improving your credit score. Your credit score is important for determining things like whether you’ll be able to qualify for a loan or credit…
Joint Release: Regulators Encourage Institutions to Work with Borrowers Affected by Government Shutdown
Joint press release with: Board of Governors of the Federal Reserve System, Conference of State Bank Supervisors, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency Five federal financial institutions regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown. While the effects of the federal government…
CFPB: Assessments of Ability-to-Repay and Mortgage Servicing Rule Published
The Consumer Financial Protection Bureau (Bureau) today published a report under section 1022(d) of the Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) assessing the effectiveness of the Bureau’s Ability to Repay and Qualified Mortgage Rule and a separate report assessing the effectiveness of the Bureau’s mortgage servicing rule issued under the Real Estate…
CFPB: Resolve to Take Control of Your Debt in the New Year
Many people make it their New Year’s resolution to get a handle on debt and improve their finances. Here are six steps you can take to make that resolution a reality. 1. Budget Creating a budget will help you figure out how much money you have to pay down your debts, while also covering your…
CFPB: Policy Guidance Announced on Disclosure of Home Mortgage Data
The Consumer Financial Protection Bureau (Bureau) today announced final policy guidance describing the Home Mortgage Disclosure Act (HMDA) data the Bureau intends to make available to the public beginning in 2019, including modifications to protect consumers’ privacy. HMDA requires lenders to collect, report, and publicly disclose loan-level data about their mortgage applications, originations, and purchases. …
FHFA: U.S. Mortgage Statistics Released from the National Mortgage Database
The Federal Housing Finance Agency (FHFA) today released the first set of national statistics derived from the National Mortgage Database (NMDB®) as a step toward implementing the monthly mortgage market survey public data disclosure required by the Housing and Economic Recovery Act of 2008 (HERA). FHFA will continue to assess whether additional data may be…
CFPB: The 2018 Financial Literacy Annual Report Sums Up a Year of Achievements in Financial Education
Financial education is a critical part of the Bureau’s mission to empower people to take more control over their economic lives. The 2018 Financial Literacy Annual Report details how the Bureau works toward this goal by: Providing financial education directly to the public, and by expanding local delivery of financial information Sharing research on effective financial…