Consumer Financial Protection Bureau (CFPB) Archives

The CFPB Protects People From Abusive Debt Collection Practices

January 29, 2025

The Consumer Financial Protection Bureau (CFPB) enforces consumer protection laws and protects people from financial companies engaged in unfair, deceptive, and abusive practices. Since its creation, the CFPB has leveled the playing field between companies that treat consumers fairly and those that do not, obtaining more than $21 billion in relief for over 205 million…

Overdraft Rule Returns $5 Billion in Big Bank Junk Fees to Consumers’ Pockets

January 29, 2025

The CFPB's new overdraft fee rule closes a paper-check-era loophole that promotes abusive practices and allows the biggest banks to earn billions in profits from the most vulnerable families.

The CFPB: Promoting a Stable Housing Market

January 28, 2025

The Consumer Financial Protection Bureau (CFPB) is an independent agency that enforces consumer protection laws and protects people from financial companies engaged in unfair, deceptive, and abusive practices. Since its creation, the CFPB has obtained more than $21 billion in relief for over 205 million people from companies that cheated and violated the law. The…

2025 Consumer Protection Federal Priorities

October 21, 2024

NCLC will pursue common-sense regulatory and legislative reforms to ensure fairness, fight fraud, and protect consumers in 2025.

Digital Library: 18 CFPB Actions in 2024 Aiding Private Consumer Litigants

August 21, 2024

It is still August and the CFPB already has been active this year with significant new final and proposed rules, advisory opinions, supervision findings, enforcement proceedings, and circulars (detailed interpretations) covering a wide range of new and established financial products. This activity often can be of significant benefit to consumers litigating in these areas and…

Comments on Interagency Guidance Regarding Unfair or Deceptive Credit Practices

October 27, 2014

The National Consumer Law Center, on behalf of its low-income clients, the Center for Responsible Lending, Consumer Action, the Consumer Federation of America, the National Association of Consumer Advocates, the New Economy Project, and U.S. PIRG, write to comment on the issuance of the Interagency Guidance regarding Unfair or Deceptive Credit Practices (“Guidance”) and the…

NCLC Comments on the Importance of the APR and CFPB's Proposed TILA RESPA Integrated Disclosures (TRID)

April 18, 2012

The Bureau’s proposal almost completely abandons the Annual Percentage Rate disclosure. Rather than emphasizing the APR or proposing a substitute, the new forms emphasize the initial interest rate and monthly payment−information that can easily be manipulated by disreputable creditors and that does not accurately disclose the cost of credit. In doing so the CFPB is,…

Time to Update the Credit Practices Rule

December 1, 2010

CFPB Should Modernize FTC Rule Addressing Abusive Creditor Collection Practices The FTC’s Credit Practices Rule protects consumers from abusive contract provisions that are designed to give the creditor an upper hand in collections and to evade legal protections for the debtor. The rule prohibits confessions of judgment, exemption waivers, irrevocable wage assignments, non-purchase security interests…

Los Angeles Times: Supreme Court rejects payday lenders’ challenge to Obama-era consumer protection bureau

May 16, 2024

Appearing on the Los Angeles Times on May 16, 2024, David G. Savage interviews NCLC Associate Director Lauren Saunders for coverage of the U.S. Supreme Court ruling in favor of the Consumer Financial Protection Bureau. “Predatory lenders and companies that rip consumers off with illegal junk fees have been trying to undermine the CFPB since…

U.S. Supreme Court Rejects Challenge to Consumer Watchdog

May 16, 2024

In a major victory for consumers, the U.S. Supreme Court ruled 7-2 in favor of the CFPB's independent funding structure.

Digital Library: Two New CFPB Advisory Opinions Facilitate Private FCRA Litigation

January 24, 2024

Effective January 23, 2024, two new CFPB advisory opinions clarify several critical Fair Credit Reporting Act (FCRA) issues and should facilitate private FCRA litigation. The first addresses accuracy issues in background check reports used by most employers and landlords. The second addresses problems consumers face when seeking complete disclosure of their credit reports. A new…

Broad Coalition — From Teachers to Housing Advocates to Consumer Groups and Small Business Advocates — React to Supreme Court Oral Arguments

October 3, 2023

Payday Lenders Arguments Fall Flat at Court; Questions Highlighted How Radical and Baseless the Payday Lenders’ Argument Against CFPB Is And Its Wide-Sweeping Implications for the American Economy

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