Newsroom | Consumer Financial Protection Bureauhttps://www.cfpb.website/about-us/newsroom/en-usWed, 13 Nov 2024 00:00:00 -0500CFPB Survey Reveals Impacts of Student Loan Debt Relief and Repayment Challengeshttps://www.cfpb.website/about-us/newsroom/cfpb-survey-reveals-impacts-of-student-loan-debt-relief-and-repayment-challenges/The CFPB issued its first results from its Student Loan Borrower Survey, providing insights into the effects of student loan debt relief programs and the challenges borrowers face in navigating repayment options.Wed, 13 Nov 2024 00:00:00 -050018956<>cfpb.websitePress releaseStudent loansCFPB Pilot Study Finds Differential Treatment in Small Business Lending Marketshttps://www.cfpb.website/about-us/newsroom/cfpb-pilot-study-finds-differential-treatment-in-small-business-lending-markets/The CFPB released a study revealing significant disparities in how lenders treat Black and white small business owners seeking loans.Wed, 13 Nov 2024 00:00:00 -050018990<>cfpb.websitePress releaseBusiness loansCFPB Report Details Carveouts for Financial Institutions in State Data Privacy Lawshttps://www.cfpb.website/about-us/newsroom/cfpb-report-details-carveouts-for-financial-institutions-in-state-data-privacy-laws/The CFPB released a report examining federal and state-level privacy protections for consumers’ financial data.Tue, 12 Nov 2024 00:00:00 -050018987<>cfpb.websitePress releaseDataFinancial service providersPrivacyStatement of Director Rohit Chopra on the CFPB’s Report on State Consumer Privacy Lawshttps://www.cfpb.website/about-us/newsroom/statement-of-director-rohit-chopra-on-the-cfpbs-report-on-state-consumer-privacy-laws/Today, the CFPB published a report finding that state consumer privacy laws typically exempt entities covered by federal financial privacy laws.Tue, 12 Nov 2024 00:00:00 -050018989<>cfpb.websiteDirector's statementDataFinancial service providersPrivacyCFPB Orders Navy Federal Credit Union to Pay More Than $95 Million for Illegal Surprise Overdraft Feeshttps://www.cfpb.website/about-us/newsroom/cfpb-orders-navy-federal-credit-union-to-pay-more-than-95-million-for-illegal-surprise-overdraft-fees/The CFPB took action against Navy Federal Credit Union for charging illegal overdraft fees.Thu, 07 Nov 2024 00:00:00 -050018983<>cfpb.websitePress releaseBankingEnforcementOverdraftServicemembersCFPB Takes Action to Address Townstone Financial’s Unlawful Redlininghttps://www.cfpb.website/about-us/newsroom/cfpb-takes-action-to-address-townstone-financials-unlawful-redlining/The CFPB filed a proposed order to resolve its case against Townstone Financial for discriminatory lending practices and redlining African American neighborhoods in Chicago.Fri, 01 Nov 2024 00:00:00 -040018971<>cfpb.websitePress releaseEnforcementFair lendingMortgagesRedliningCFPB Orders VyStar Credit Union to Pay $1.5 Million for Illegally Stranding Consumers from Accessing Their Money and Accountshttps://www.cfpb.website/about-us/newsroom/cfpb-orders-vystar-credit-union-to-pay-1-5-million-for-illegally-stranding-consumers-from-accessing-their-money-and-accounts/The CFPB took action against VyStar Credit Union for harming consumers through its botched rollout of a new online banking system.Thu, 31 Oct 2024 00:00:00 -040018968<>cfpb.websitePress releaseBankingCredit unionsEnforcementCFPB and CMS Take Action to Stop Illegal Billing of Lowest-Income Medicare Recipientshttps://www.cfpb.website/about-us/newsroom/cfpb-and-cms-take-action-to-stop-illegal-billing-of-lowest-income-medicare-recipients/The Consumer Financial Protection Bureau and the Centers for Medicare and Medicaid Services issued a joint letter to protect millions of Medicare beneficiaries living at or below the poverty line from unlawful medical bills.Thu, 31 Oct 2024 00:00:00 -040018967<>cfpb.websitePress releaseMedical debtOlder AmericansCFPB Takes Action to Curb Unchecked Worker Surveillancehttps://www.cfpb.website/about-us/newsroom/cfpb-takes-action-to-curb-unchecked-worker-surveillance/The Consumer Financial Protection Bureau (CFPB) issued guidance to protect workers from unchecked digital tracking and opaque decision-making systems.Thu, 24 Oct 2024 00:00:00 -040018952<>cfpb.websitePress releaseCredit reports and scoresDataPrivacyPrepared Remarks of CFPB Director Rohit Chopra at the Joint Field Hearing with the Department of Labor on Worker Trackinghttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-at-the-joint-field-hearing-with-the-department-of-labor-on-worker-tracking/Director Chopra delivered remarks at the Joint Field Hearing with the Department of Labor on Worker Tracking in Michigan.Thu, 24 Oct 2024 00:00:00 -040018955<>cfpb.websiteSpeechCredit reports and scoresDataPrivacyPrepared Remarks of CFPB Director Rohit Chopra at Georgetown University’s DC Fintech Weekhttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-at-georgetown-universitys-dc-fintech-week/Director Chopra delivered remarks at Georgetown University’s DC Fintech Week.Wed, 23 Oct 2024 00:00:00 -040018951<>cfpb.websiteSpeechAccess to creditBankingDataInnovationRulemakingPrepared Remarks of CFPB Director Rohit Chopra on the Goldman Sachs and Apple Enforcement Press Callhttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-on-the-goldman-sachs-and-apple-enforcement-press-call/The CFPB is taking action against two of our country’s most powerful corporations, Apple and Goldman Sachs.Wed, 23 Oct 2024 00:00:00 -040018950<>cfpb.websiteSpeechCredit cardsEnforcementCFPB Orders Apple and Goldman Sachs to Pay Over $89 Million for Apple Card Failureshttps://www.cfpb.website/about-us/newsroom/cfpb-orders-apple-and-goldman-sachs-to-pay-over-89-million-for-apple-card-failures/The CFPB took action against Apple and Goldman Sachs for customer service breakdowns and misrepresentations that impacted hundreds of thousands of Apple Card users.Wed, 23 Oct 2024 00:00:00 -040018947<>cfpb.websitePress releaseCredit cardsEnforcementPrepared Remarks of CFPB Director Rohit Chopra at the Federal Reserve Bank of Philadelphia on the Personal Financial Data Rights Rulehttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-at-the-federal-reserve-bank-of-philadelphia-on-the-personal-financial-data-rights-rule/Director Chopra delivered remarks at the Federal Reserve Bank of Philadelphia about the CFPB’s Personal Financial Data Rights Final Rule.Tue, 22 Oct 2024 00:00:00 -040018941<>cfpb.websiteSpeechAccess to creditBankingDataInnovationRulemakingCFPB Finalizes Personal Financial Data Rights Rule to Boost Competition, Protect Privacy, and Give Families More Choice in Financial Serviceshttps://www.cfpb.website/about-us/newsroom/cfpb-finalizes-personal-financial-data-rights-rule-to-boost-competition-protect-privacy-and-give-families-more-choice-in-financial-services/The CFPB finalized a rule to give consumers greater rights, privacy, and security over their personal financial data by requiring providers to unlock personal financial data for free.Tue, 22 Oct 2024 00:00:00 -040018940<>cfpb.websitePress releaseAccess to creditBankingDataInnovationRulemakingCFPB Sues Student Lender Climb Credit and Investment Firm 1/0 for Deceiving Borrowers About Coding Bootcamps and Vocational Programshttps://www.cfpb.website/about-us/newsroom/cfpb-sues-student-lender-climb-credit-and-investment-firm-1-0-for-deceiving-borrowers-about-coding-bootcamps-and-vocational-programs/Today, the CFPB sued student lender Climb Credit and 1/0 (“one zero”) for misrepresenting the quality of the programs at their partner schools and making false claims about graduates’ outcomes.Thu, 17 Oct 2024 00:00:00 -040018932<>cfpb.websitePress releaseEnforcementStudent loansPrepared Remarks of Julie Margetta Morgan at the HealthWatch Wisconsin Medical Debt Symposiumhttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-julie-margetta-morgan-at-the-healthwatch-wisconsin-medical-debt-symposium/CFPB Associate Director Julie Margetta Morgan delivered remarks at the HealthWatch Wisconsin Medical Debt Symposium.Thu, 17 Oct 2024 00:00:00 -040018930<>cfpb.websiteSpeechMedical debtCFPB and Justice Department Take Action Against Fairway for Redlining Black Neighborhoods in Birmingham, Alabamahttps://www.cfpb.website/about-us/newsroom/cfpb-and-justice-department-take-action-against-fairway-for-redlining-black-neighborhoods-in-birmingham-alabama/The CFPB and DOJ took action to end Fairway Mortgage Corporation’s illegal mortgage lending redlining against majority-Black neighborhoods in the greater Birmingham, Alabama area.Tue, 15 Oct 2024 00:00:00 -040018923<>cfpb.websitePress releaseEnforcementFair lendingMortgage originationMortgagesRedliningPrepared Remarks of CFPB Director Rohit Chopra at Harvard Law School on the Asset Management Oligopolyhttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-at-harvard-law-school-on-the-asset-management-oligopoly/Director Chopra delivered remarks about the asset management oligopoly at Harvard Law School.Tue, 15 Oct 2024 00:00:00 -040018934<>cfpb.websiteSpeechBankingCFPB Takes Action Against Arbitration Platform Ejudicate for Deceiving Student Borrowershttps://www.cfpb.website/about-us/newsroom/cfpb-takes-action-against-arbitration-platform-ejudicate-for-deceiving-student-borrowers/The CFPB banned private dispute resolution platform Ejudicate from arbitrating disputes about consumer products after it misled borrowers about its neutrality and initiated sham arbitration proceedings.Thu, 10 Oct 2024 00:00:00 -040018916<>cfpb.websitePress releaseArbitrationEnforcementStudent loansCFPB Takes Action Against Wrongful Auto Repossessions and Loan Servicing Breakdownshttps://www.cfpb.website/about-us/newsroom/cfpb-takes-action-against-wrongful-auto-repossessions-and-loan-servicing-breakdowns/The CFPB published a new edition of Supervisory Highlights describing the agency’s supervisory findings related to illegal practices in auto finance, including lenders repossessing consumers’ cars after the borrower made timely payments or received loan extensions.Mon, 07 Oct 2024 00:00:00 -040018888<>cfpb.websitePress releaseAdd-on productsAuto loansCredit reports and scoresAgencies Announce Dollar Thresholds for Applicability of Truth in Lending and Consumer Leasing Rules for Consumer Credit and Lease Transactionshttps://www.cfpb.website/about-us/newsroom/agencies-announce-dollar-thresholds-for-applicability-of-truth-in-lending-and-consumer-leasing-rules-for-consumer-credit-and-lease-transactions-2024/The CFPB and the FRB are announcing the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2025 are subject to certain protections under Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).Fri, 04 Oct 2024 00:00:00 -040018898<>cfpb.websitePress releaseMortgagesRulemakingAgencies Announce Dollar Thresholds for Smaller Loan Exemption from Appraisal Requirements for Higher-priced Mortgage Loanshttps://www.cfpb.website/about-us/newsroom/agencies-announce-dollar-thresholds-for-smaller-loan-exemption-from-appraisal-requirements-for-higher-priced-mortgage-loans-2024/The CFPB, the FRB, and the OCC are announcing that the 2025 threshold for higher-priced mortgage loans that are subject to special appraisal requirements will increase from $32,400 to $33,500.Fri, 04 Oct 2024 00:00:00 -040018897<>cfpb.websitePress releaseMortgagesRulemakingPrepared Remarks of CFPB Director Rohit Chopra at a White House Convening on Medical Debthttps://www.cfpb.website/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-at-a-white-house-convening-on-medical-debt/Director Chopra delivered remarks about medical debt at a White House convening.Tue, 01 Oct 2024 00:00:00 -040018876<>cfpb.websiteSpeechDebt collectionMedical debtConsumer advisory: Pause and review your rights when you hear from a medical debt collectorhttps://www.cfpb.website/about-us/newsroom/consumer-advisory-pause-and-review-your-rights-when-you-hear-from-a-medical-debt-collector/Getting a call from a debt collector about medical costs can feel like it’s making a painful situation worse. Don’t pay just to make it go away. Know your rights and check the facts.Tue, 01 Oct 2024 00:00:00 -040018872<>cfpb.websiteConsumer advisoriesDebt collectionMedical debt