Newsroom

The Consumer Financial Protection Bureau (CFPB) today finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes requirements for how creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022.

In the years leading up to the subprime crisis, one opaque and easily manipulable index, LIBOR, came to dominate adjustable rate home mortgage loan contracts. In the wake of the crisis, we learned that large international banks had conspired to set the LIBOR rate in order to conceal weaknesses in the financial system and to boost their bottom line.

Banks continue to rely heavily on overdraft and non-sufficient fee (NSF) revenue, which reached an estimated $15.47 billion in 2019, according to research released today by the Consumer Financial Protection Bureau (CFPB).

Director Rohit Chopra remarks at a press call on overdraft fees.

On March 17, 2021, CFPB Acting Director Dave Uejio issued a statement regarding consumers’ access to Economic Impact Payment funds distributed through the American Rescue Plan.

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.

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.

The Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) relating to the Remittance Rule (Rule).

The Consumer Financial Protection Bureau (Bureau) released today the results of a pilot study, Planning for tax-time savings, launched with the tax preparation company H&R Block that shows that simple messages encouraging customers to use their prepaid card to save at tax time increased the likelihood that they would do so.

The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim of financial exploitation.

The Consumer Financial Protection Bureau and the Federal Reserve Board today jointly published amendments to Regulation CC that implement a statutory requirement to adjust for inflation the amount of funds depository institutions must make available to their customers.

Today the Consumer Financial Protection Bureau (CFPB) published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act (RFA) and to request public input.

Joint release with the Board of Governors of the Federal Reserve System.

Joint release with the Federal Reserve Board of Governors and Office of the Comptroller of the Currency.

Today the Bureau of Consumer Financial Protection (Bureau) filed in federal district court a proposed settlement with TCF National Bank regarding its marketing and sale of overdraft services.

Bureau Acting Director Mick Mulvaney issued the following statement after President Donald Trump signed the Economic Growth, Regulatory Relief and Consumer Protection Act into law.

For more than five years now, I have had the honor to serve our country as the first director of the new U.S. Consumer Financial Protection Bureau. In that time, we have built a brand-new federal agency from scratch.

Consumers Harmed By Inferior Card Terms, Including Higher Interest Rates, Stricter Credit Cutoffs, and Less Debt Forgiveness, Receive Over $95 Million in Redress.

Press call on "Know Before You Owe: Overdraft" in Washington, D.C. on August 4, 2017.

New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees.

Bureau’s Order Requires Bank to Pay $4.6 Million Penalty.

Welcome to this meeting of the Consumer Advisory Board. We find great value in the dialogue we have with our CAB members, who share with us their perspective, their expertise, and their experience.

Bureau Report Outlines Accuracy and Other Issues That Bureau Supervision Has Taken Action to Address.

Bureau Seeks Stakeholder Input on Security, Consumer Choice, and Control of Records.

Thank you all for joining us in Salt Lake City. We have a special moment right now to peer into the future and see what we can learn.