Consumer Financial Protection Bureau Company Updates | Glassdoor

Company Updates

  • Scams that target older people occur every day, but you can count on scammers to ramp up their efforts to prey on people’s generosity during the holiday season.

    Beware of Scams Targeting Older People During the Holidays > Blog > Consumer Financial Protection Bureau

    Our Office for Older Americans is working to provide older consumers and their families with the tools and information they need to protect themselves from frauds and scams. Scams that target older people occur every day, but you can count on scammers to ramp up their efforts to prey on people's generosity during the holiday season.

  • Company to Pay $18 Million to Minority Auto Borrowers, $3 Million to Credit Card Customers

    CFPB Takes Action Against Fifth Third Bank for Auto-Lending Discrimination and Illegal Credit Card Practices > Newsroom > Consumer Financial Protection Bureau

    WASHINGTON, D.C. - Today the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank, for discriminatory auto loan pricing and for illegal credit card practices. The joint CFPB and Department of Justice (DOJ) auto-lending enforcement action requires Fifth Third to change its pricing and compensation system to minimize the risks of discrimination, and to pay $18 million to harmed African-American and Hispanic borrowers.

  • You have the right to compare offers and understand the terms before you sign on the dotted line. And the information you use should be clear and easy to understand. After four years of work, these new forms and tools will help you shop for the best deal and avoid costly surprises when you sign on the dotted line.

    Know Before You Owe: Making the mortgage process easier for you > Blog > Consumer Financial Protection Bureau

    Since opening our doors over four years ago we've heard from homebuyers that the process of buying a home is overwhelming and confusing. We've heard that closing is often rushed, not allowing enough time to review before signing on the dotted line.

  • In the past month, credit reporting complaints showed the greatest monthly percentage increase compared to other products the CFPB accepts complaints about (including debt collection, mortgages and credit cards – to name a few). Check out this month’s report to see trends across all consumer complaints.

    This Month's Complaint Report: Credit Reporting Issues > Blog > Consumer Financial Protection Bureau

    This month's report puts the spotlight on credit reporting. Credit reports play a big part in major consumer lending decisions, including mortgage loans, auto loans, credit cards and private student loans. The largest three nationwide credit reporting companies (Equifax, Experian and TransUnion) maintain credit files on nearly 210 million U.S.

  • We’ve put together some helpful advice and information for borrowers enrolled in income-driven repayment plans.

    When you make student loan payments on an income-driven plan, you might be in for a payment shock > Blog > Consumer Financial Protection Bureau

    Earlier this year, we asked you to share your #StudentDebtStress story. More than 30,000 of you answered, telling us about payment processing problems, servicing transfer snags, customer service confusion, and obstacles for borrowers in alternative repayment plans. You can check out the comments that were posted.

  • We’ve heard from many consumers about the overwhelming process of closing on a mortgage, which can be confusing and difficult. As part of our broader efforts to improve the overall mortgage experience, we’ve been exploring how technology can be used to address some of those pain points in the closing process.

    Three things to do before closing: What we learned from studying eClosing > Blog > Consumer Financial Protection Bureau

    We've heard from many consumers about the overwhelming process of closing on a mortgage, which can be confusing and difficult. Closing is the part of the mortgage process where you accept the terms of your loan, the last step before you owe, and usually before you owe more than you ever have in your life.

  • Coders, technology enthusiasts, economists, teachers, high school students, and entrepreneurs joined representatives from eight government agencies for the third annual National Day of Civic Hacking on June 6. During this collaborative event, a diverse group of citizens worked together to tackle complex problems facing our communities using technology and publicly released data.

  • “A limited credit history can create real barriers for consumers looking to access the credit that is often so essential to meaningful opportunity—to get an education, start a business, or buy a house. Further, some of the most economically vulnerable consumers are more likely to be credit invisible.” - CFPB Director Richard Cordray

    CFPB Report Finds 26 Million Consumers Are Credit Invisible > Newsroom > Consumer Financial Protection Bureau

    WASHINGTON, D.C. - Today the Consumer Financial Protection Bureau (CFPB) published a report finding that 26 million Americans are "credit invisible." This figure indicates that one in every 10 adults do not have any credit history with a nationwide consumer reporting agency.

  • Even a small savings account for your child could make a powerful difference in their future.

  • Millions of young people enter the workforce every day without basic money management skills. The financial decisions they make in the beginning of their working lives can affect their financial success in the future. Developing healthy financial habits early on helps young people better access services and products that can help them save, invest, and build credit.

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