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Thursday, November 7, 2013

CFPB Semi-Annual Report Summary

The CFPB issued a semi-annual report to Congress providing an update on the CFPB's mission, activities, accomplishments and publications since its last semi-annual report and containing additional information required by Dodd-Frank. The report discusses:

• Consumer challenges in obtaining financial products and services
• Leveling the playing field
• Regulations and guidance
• Supervision
• Enforcement
• Fair lending
• Transparency and accountability
• Budget
• Diversity

In addition, the CFPB noted it has received over 175,000 consumer complaints on credit reporting, debt collection, money transfers, bank accounts, credit cards, mortgages, vehicle loans, and student loans.

Through the AskCFPB section of their website, the CFPB has answered over 900 of consumers’ most frequently asked questions.

Read more.

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