Consumer Financial Protection Bureau

Consumer Financial Protection Bureau
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Our Ombudsman’s Office annual report is available today on our webpage. If you are not as familiar with our role, we are an independent, impartial, and confidential resource and our mission is to advocate for fair process in consumer financial protection. We assist consumers, financial entities, consumer groups, trade groups, and others in informally resolving process issues with the CFPB.In this...

The holiday season provides plenty of opportunities to talk with kids about money, like when you go shopping or when your children receive gifts. No matter what age, kids learn from watching their parents and absorb what they see and hear around them. Your words and actions are opportunities to share money lessons. These opportunities can add up to help your kids build successful financial...

As part of Financial Literacy Month in April, CFPB supports Money Smart Week (April 21–28, 2018) as a way to help you be smart about money. Lots of free financial education classes and seminars are held by local and regional organizations throughout the United States for consumers like you to attend. The topics of these classes and seminars cover a multitude of money management topics including...

The holidays can put a financial burden even on the savviest of shoppers and savers. But like most things, taking time to plan can help you avoid the stress that comes with overspending. Before you hit the mall or shop for Black Friday deals, keep reading to learn how to make a holiday spending plan that works for you.1. Set a budget First, make sure you account for all of your typical expenses...

More than one out of every 12 people over the age of five in the U.S. are limited English proficient (LEP), meaning that they speak English less than very well, according to the U.S. Census Bureau’s 2016 American Community Survey One-Year Estimates. LEP consumers may find it difficult to access financial products and services.Today, we are releasing a report to share some current practices and...

Company Deceived Borrowers About Tax Benefits, Incorrectly Charged Late Fees and Interest, Sent Misleading Monthly Bills and Incomplete Notices
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against Citibank, N.A. for student loan servicing failures that harmed borrowers. Citibank misled borrowers into believing that they were not eligible for a valuable tax...

We’re releasing a report on consumer experiences with overdraft programs. An overdraft happens when you don’t have enough money in your checking account to cover a purchase or payment and your bank or credit union pays it anyway. When this happens, your financial institution may charge you an overdraft fee. We interviewed 88 people who had recently been charged an overdraft fee or had a...

Company Failed to Inform Auto Lenders That Defects in its Software Led to Inaccuracies
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today took action against Xerox Business Services, LLC, now called Conduent Business Services, for software errors that led to incorrect consumer information about more than one million borrowers being sent to credit reporting agencies. The...

Last week, Director Cordray sent a letter to the CEO’s of several banks, credit unions, and financial companies encouraging them to enable consumers to exert greater control over their credit cards, debit cards, and other payment methods. Read the letter below or download a PDF .
[Address of financial institution] Dear [CEO of financial institution]:
Over the years, the Consumer Bureau has...

Until recently, accessing your credit scores was not easy—and sometimes seeing your scores meant paying a fee. Over the last few years, many financial institutions have started to offer free access to credit scores since it’s important information to help you manage your financial life.Has your credit card company or a lender you use given you free access to your credit score? If so, we want to...