Defend Your Dollars: Share this site! We support reforms to the financial marketplace to curb bad practices by banks and lenders.

CFPB

Consumers won a huge victory in 2010 with the passage of the Wall Street Reform law. The key provision of the bill for consumers is the creation of the Consumer Financial Protection Bureau, which will oversee financial products and services such as mortgages, credit cards, payday loans, check cashing, and private student loans.

Publications

  • Comments to the CFPB on advanced notice of proposed rulemaking, regarding debt collection practices

    Consumers Union, the policy and advocacy arm of Consumer Reports®,1 appreciates the opportunity to comment on the Bureau’s advanced notice of proposed rulemaking (ANPR) regarding debt collection practices. We applaud the Bureau’s efforts to update and clarify federal standards for the debt collection system, and offer comments in response to selected questions below. As a Continue Reading

  • Young Americans Deserve Strong Consumer Financial Protections

    Young Americans Deserve a Strong Consumer Bureau to  Protect them from Unfair Financial Practices Too many young Americans have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama signed the Wall Continue Reading

  • Women Deserve Strong Consumer Financial Protections

    Women Deserve a Strong Consumer Bureau to  Protect them from Unfair Financial Practices Too many women have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama signed the Wall Street Reform Continue Reading

  • Servicemembers Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices

    Servicemembers Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices Too many servicemembers have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama signed the Wall Street Reform Continue Reading

  • Rural Americans Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices

    Rural Americans Deserve a Strong Consumer Bureau to  Protect them from Unfair Financial Practices Too many Americans living in rural areas have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama Continue Reading

  • Older Americans Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices

    Older Americans Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices Too many older Americans have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama signed the Wall Continue Reading

  • Latinos Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices

    Latinos Deserve a Strong Consumer Bureau to        Protect them from Unfair Financial Practices Too many Latinos have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama signed the Wall Street Continue Reading

  • African Americans Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices

    African Americans Deserve a Strong Consumer Bureau to Protect them from Unfair Financial Practices Too many African Americans have paid the price for an outdated regulatory system that has left our financial system vulnerable to collapse and our families without adequate protections.  In the summer of 2010, Congress passed and President Obama signed the Wall Continue Reading

  • CU comments to the CFPB on which non-banks it should supervise

    Consumers Union,1 the nonprofit publisher of Consumer Reports®, appreciates the opportunity to comment on this Notice and Request for Comment on how the Bureau should define “larger participants” in markets for other consumer financial products and services. The Bureau’s “larger participant” rule will determine which nondepository covered persons (hereinafter “non-banks”) other than residential mortgage, private Continue Reading

  • CU comments to the OCC on proposed preemption rules for national banks

    In this comment letter, CU tells the Office of the Comptroller of Currency (OCC) to amend its proposed rules regarding preemption of State consumer financial protection laws.

    Since 2004, the OCC, which currently oversees national banks, has had broad preemption rules in place that allow national banks to evade stronger State laws that would protect consumers against predatory lending and other abuses. The Dodd-Frank Act overturned these standards and required the OCC to rewrite their rules – but the OCC’s proposed rules do little more than maintain the status quo, essentially ignoring their new responsibilities under Dodd-Frank.

Page 1 of 912345...Last »

Press Releases

Page 1 of 912345...Last »

Blog Posts

  • CFPB Working for You: Helping Young People Make Smart Financial Decisions

    It’s back to school time, and parents and kids are gearing up for a new year. But while kids may be getting great instruction in math, science, and writing at school, they don’t usually learn basic skills like how to manage a checking account or credit card. As the Consumer Financial Protection Bureau (CFPB) points Continue Reading

  • CFPB Targets Auto Lender for False Credit Reports

    An estimated one out of every five Americans has a mistake on one of their credit reports, which have sadly become an all-too-frequent occurrence for consumers. But the Consumer Financial Protection Bureau (CFPB) is working to change that: it’s rebuking an auto lender for reporting faulty information to the credit bureaus for years. On Wednesday, the Continue Reading

  • CFPB Working for You: New Report Shows How Overdraft Fees are like a 17000% APR Loan

    Consumers have made it clear: they’re fed up with overdraft fees. Unreasonable and high overdraft fees can be disastrous for consumers like James of Aliquippa, PA, who wrote to us: “[M]y bank has charged me in overdraft fees roughly $5,122.00 over the last 24 months . . .These are strictly overdraft fees charged by the Continue Reading

  • CFPB Warns Consumers About Bitcoin and other Virtual Currencies

    Last June we wrote about how the CFPB would be paying closer attention to virtual currencies.  Today the CFPB issued a warning for consumers about risks of virtual currencies, such as Bitcoin, XRP, and Dogecoin.  The CFPB says consumers should be aware of potential risks with virtual currencies such as unclear costs, volatile exchange rates, the Continue Reading

  • CFPB Working For You: Empowering Low-Income Consumers

    It’s not unusual to feel bewildered when faced with complicated banking fee policies or pages of fine print when you’re trying to get a loan. Many consumers worry that they don’t have enough financial savvy to reach their goals. We’ve heard from frustrated consumers like Yolia of Washington, DC, who told us that money concerns Continue Reading

  • CFPB Defends Troops Against Predatory Lenders

    More proof that the CFPB is standing up for consumers: the CFPB has permanently stopped a lender that has been preying on soldiers and trying to evade regulators for years. The CFPB, along with 13 state attorneys general, took action against Colfax Capital Corporation and Culver Capital LLC, together called “Rome Finance,” for tricking servicemembers and other consumers Continue Reading

  • Tackling Mortgage Problems: CFPB on Your Side

    Although foreclosures in the United States are down, many consumers seeking relief still have serious problems with their mortgage lenders and loan servicers. If you are a struggling homeowner and can’t get help from your bank or loan servicer, get the CFPB on your side.  The consumer protection agency, which celebrates it anniversary this week, is actively Continue Reading

  • Let the Consumer Financial Protection Bureau Continue To Do Its Job

    (Cross-posted from Consumer Reports Online in an article by Stephen Saltzman) On July 21, the Consumer Financial Protection Bureau will mark its fourth anniversary. The consumer financial watchdog, created by Congress in the wake of the financial crisis caused by shady mortgage lenders and Wall Street abuses, has done a lot for consumers in just Continue Reading

  • CFPB: Fixing Consumers’ Toughest Credit Reporting Issues

    When you find an incorrect item on your credit report, it’s not always easy to get it fixed. Fortunately, consumers have an advocate working hard on their side. For the past three years, the Consumer Financial Protection Bureau (CFPB) has been there to help consumers resolve their problems with financial services providers – from credit Continue Reading

  • CFPB Consumer Stories: Repaying Student Debt

    It’s the Consumer Financial Protection Bureau (CFPB)’s birthday this week – and they sure have been busy lately! As part of its mission to educate consumers about their rights, the CFPB has created some impressive and easy-to-use resources for consumers on a lot of money topics. When it comes to student loans, all too many Continue Reading

Page 1 of 1912345...10...Last »

News Articles