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


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.


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Press Releases

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Blog Posts

  • CFPB Town Hall: Student Loans UPDATED

    The Consumer Financial Protection Bureau is hosting a town hall on student loans.  The hearing will take place on Wednesday, May 8 at 6 p.m. EDT (Eastern Daylight Time) in Miami-Dade County, Florida. The CFPB will confirm and announce the venue soon. The hearing will be held at: Miami Dade College Wolfson Campus Chapman Center, Room 3210 300 Continue Reading

  • Cordray Confirmation Needed to Improve Credit Reporting

    Credit report errors have long plagued consumers, many of whom diligently work to establish a solid credit history, only to find their efforts derailed due to mistakes made by creditors or the credit reporting agencies (CRAs). These lapses have the potential to be truly damaging as more and more companies — from auto, mortgage, and Continue Reading

  • CFPB Director Faces Re-Nomination Hearing

    Yesterday’s hearing by the Senate Banking Committee on the re-nomination of Richard Cordray to head the Consumer Financial Protection Bureau was just the beginning of what could turn out to be a long fight in Congress. Cordray, who was named the director of the CFPB by recess appointment by President Obama in January 2012, appeared Continue Reading

  • Financial watchdog: It’s déjà vu all over again

    A minority of Senators are again holding hostage the director of the Consumer Financial Protection Bureau until they can significantly weaken the watchdog’s authority to protect the public. Consumers may remember this fight from the past two years, when Richard Cordray’s nomination to head the bureau was indefinitely held up. President Obama broke the stalemate Continue Reading

  • Collectors and Lenders Gear Up for CFPB Oversight

    While problems in the mortgage industry still dominate the news, some financial industry insiders are warning banks and debt collectors to get ready for more scrutiny over how they handle other types of debt – especially credit cards and student loans. A recent article in the American Bankers Association’s Banking Journal pointed out that since Continue Reading

  • Feds Announce New Rules and Settlements on Mortgages

    It’s been a busy week for new developments affecting mortgage borrowers and homeowners who lost their homes to foreclosure. The Consumer Financial Protection Bureau (CFPB) announced new regulations on January 10 that, when implemented in 2014, will require banks to honestly characterize the full costs of their mortgage loans and lend only to borrowers that Continue Reading

  • CFPB And FTC Team Up On Misleading Mortgage Ads

    By Norma Garcia On Monday, November 19, 2012, the Federal Trade Commission (FTC)  and the Consumer Financial Protection Bureau (CFPB)  announced they sent letters to a number of lenders over potentially misleading advertisements related to mortgages. According to a Bloomberg News report , together, the agencies are investigating 19 mortgage-related companies.In addition the LA Times Continue Reading

  • Banks Want Legal Immunity For Unaffordable Loans

    By Pam Banks Bank lobbyists plan to make the most of the lame-duck session of Congress that gets underway next week. Almost before anyone has a chance to notice, they hope to pass an amendment undermining a crucial piece of the Dodd-Frank Wall Street reform law — the provision that was supposed to keep lenders Continue Reading

  • CFPB Releases Guide to New Rules on International Money Transfers

    This week, the Consumer Financial Protection Bureau (CFPB) released a guide for small businesses on its remittance rule, which will protect consumers who send money electronically to foreign countries starting February 2013.  The guide explains the key provisions of the rule and highlights important issues businesses should consider as they put the new rule into practice. Under the new Continue Reading

  • CFPB Forces American Express To Refund $85 Million

    American Express will refund an estimated $85 million to some 250,000 customers for illegal credit card practices under a settlement announced today by the CFPB.  The company will also pay a penalty of $27.5 million and has agreed to correct its practices. The CFPB is clearly putting credit card companies on notice that, if you Continue Reading

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