CFPB Journal staff report – Page 23

CFPB: Medical debt disproportionately affects credit scores

Credit scoring models may over-estimate the impact of consumers’ medical debt, according to a study from the Consumer Financial Protection Bureau.

Number of seniors with mortgages up, CFPB finds

Approximately 30 percent of the 41 million Americans older than 65 years old have mortgages, according to a recent report from the Consumer Financial Protection Bureau.

CFPB proposes change to privacy disclosures

The Consumer Financial Protection Bureau is proposing a rule that would change the way banks distribute privacy disclosures.

Financial marketers outspend financial educators 25-to-1

For every dollar allocated to increasing financial literacy, $25 is spent on financial marketing according to a year-long study by the Consumer Financial Protection Bureau.

How much will the CFPB spend now?

For more than two years, lawmakers in Congress fought over the Consumer Financial Protection Bureau’s structure.

CARD Act rule will make it easier for stay-at-home adults to get credit

An update to the Credit Card Accountability Responsibility and Disclosure Act, or CARD Act, will make it easier for stay-at-home moms or dads to get a credit card.

Tool helps compare college expenses

On April 11, the CFPB unveiled an online tool to help people shop for college. The tool, located at the CFPB web site, allows a person to list expenses for three colleges, side by side.

CFPB’s Office of Older Americans to get new leader

Hubert H. Humphrey III, who was named Assistant Director for Older Americans at the Consumer Financial Protection Bureau on Oct. 9, 2011, has taken on a new post at the bureau; he is now Senior Liaison Officer.

CFPB penalizes mortgage companies for reinsurance kickbacks

The Consumer Financial Protection Bureau announced on April 4 four enforcement actions to end what the CFPB said it believes to be “improper kickbacks paid by mortgage insurers to mortgage lenders in exchange for business.”

Bureau announces study on compliance costs

On March 20, the Consumer Financial Protection Bureau’s Deputy Associate Director Dan Sokolov announced the Bureau’s plans to work with banks in order to quantify the cost of compliance with key federal regulations.