Consumer Financial Protection Bureau

Consumer Financial Protection Bureau
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This summer, the Consumer Financial Protection Bureau issued a rule that prevents financial companies from using arbitration clauses to deny groups of consumers the ability to pursue their legal rights in court. We put this rule in place after conducting a comprehensive study that found that arbitration clauses were effectively blocking billions of dollars of relief for millions of harmed...

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
WASHINGTON, D.C. — 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 their loans. These strong, common-sense protections cover...

Washington, D.C.
Thank you for joining us. After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans. The rule is guided by the basic principle of requiring lenders to determine upfront whether people can afford to repay their loans. These strong protections...

If you’re like most people, you want to get the lowest interest rate that you can find for your mortgage loan. But how is your interest rate determined? That can be difficult to figure out for even the savviest of mortgage shoppers. Knowing what factors determine your mortgage interest rate can help you better prepare for the homebuying process and for negotiating your mortgage loan. Your lender...

Bureau Releases Interactive Online Tool to Help Consumers Measure Their Financial Well-Being
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released the results of a first-of-its-kind national survey on the financial well-being of U.S. consumers that showed that more than 40 percent of U.S. adults struggle to make ends meet. The survey provides measurements and...

When it comes to money, there are lots of numbers to tell you how you’re doing, like how much you have in the bank, your credit score, or the number of months left on your mortgage or student loan. While those numbers are important, they don’t tell the whole story about your financial situation. To help you see where you stand, we’ve created the interactive Financial Well-Being tool. After you...

Our Office for Older Americans strives to find the best ways to share important financial information with adults 62 and older, as well as senior service providers. We developed online and print resources, and even put financial lessons in unexpected places, such as on a paper placemat beneath a meal served at a local senior center. Our first financial education placemat debuted in May 2016, and...

When you started or returned to college this year, you may have heard a lot around campus about making smart financial decisions. Paying for college is more than just applying for scholarships, grants, and student loans. Part of managing your money while in college includes making informed decisions when picking a checking or prepaid account. Your college may offer an "official" account that is...

Whether or not you are among the millions of people affected by the recent Equifax data breach, there are several steps you can take to respond when your personal information is exposed in a data breach. We outlined several identity theft tips for you last week. Since then, people have been asking many questions and we will continue to work to provide answers—or point people to other resources...

If you were one of the many servicemembers and their families affected by the recent Equifax data breach, it is time for you to secure your identity. Thankfully, active duty servicemembers have special tools at their disposal, like active duty alerts or a security freeze, to reduce the risk of identity theft.
Here is a CFPB operation order for what you can do next to secure your...