Consumer Financial Protection Bureau Report Examines Early Impact of Pandemic on Consumer Credit

The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.

The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-examines-pandemic-impact-on-consumer-credit/

CFPB Extends Comment Period on Request for Information on Ways to Prevent Credit Discrimination and Build a More Inclusive Financial System

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for public comment on its Request for Information on how best to create a regulatory environment that expands access to credit and ensures that all consumers …

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for public comment on its Request for Information on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-extends-rfi-comment-period-ways-prevent-credit-discrimination-build-more-inclusive-financial-system/

Oral Testimony of Director Kraninger Before the House Financial Services Committee

Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequ…

Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality and confronting the unprecedented pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/oral-testimony-director-kraninger-house-financial-services-committee/

Oral Testimony of Director Kraninger Before the Senate Banking Committee

Chairman Crapo, Ranking Member Brown, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality…

Chairman Crapo, Ranking Member Brown, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality and confronting the unprecedented pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/oral-testimony-director-kraninger-senate-banking-committee/

Consumer Financial Protection Bureau Requests Information on Ways to Prevent Credit Discrimination and Build a More Inclusive Financial System

The Consumer Financial Protection Bureau issued a request for information to seek public input on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination…

The Consumer Financial Protection Bureau issued a request for information to seek public input on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-rfi-prevent-credit-discrimination-build-more-inclusive-financial-system/

CFPB Study Shows Financial Product Could Help Consumers Build Credit

The Consumer Financial Protection Bureau released a report indicating that a credit builder loan could increase the likelihood of establishing a credit record for consumers without one, and could help improve the credit scores of those with no current …

The Consumer Financial Protection Bureau released a report indicating that a credit builder loan could increase the likelihood of establishing a credit record for consumers without one, and could help improve the credit scores of those with no current outstanding debt.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-study-shows-financial-product-could-help-consumers-build-credit/

CFPB Releases Report on Debt Settlements and Credit Counseling

The Consumer Financial Protection Bureau released a report examining recent trends in debt settlement and credit counseling.

The Consumer Financial Protection Bureau released a report examining recent trends in debt settlement and credit counseling.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-report-debt-settlements-credit-counseling/

Consumer Financial Protection Bureau Report Shows Substantial Decline in Credit Applications in March

A Consumer Financial Protection Bureau report examining the effects of the COVID-19 pandemic found that consumer credit applications declined substantially in March.

A Consumer Financial Protection Bureau report examining the effects of the COVID-19 pandemic found that consumer credit applications declined substantially in March.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-shows-decline-credit-applications-march/

Federal Agencies Encourage Banks, Savings Associations, and Credit Unions to Offer Responsible Small-Dollar Loans to Consumers and Small Businesses Affected by COVID-19

Five federal financial regulatory agencies issued a joint statement encouraging banks, savings associations, and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.

Five federal financial regulatory agencies issued a joint statement encouraging banks, savings associations, and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/federal-agencies-encourage-banks-savings-associations-credit-unions-to-offer-responsible-small-dollar-loans-consumers-small-businesses-affected-covid-19/

Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19

The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information re…

The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/agencies-provide-additional-information-encourage-financial-institutions-work-borrowers-affected-covid-19/