Consumer Financial Protection Bureau

CHECK BELOW INTRODUCTION FOR LATEST ACTIONS!!!

Learn about the Bureau

The central mission of the Consumer Financial Protection Bureau (CFPB) is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.

The consumer bureau is working to:

Educate

An informed consumer is the first line of defense against abusive practices.

Enforce

Like a neighborhood cop on the beat, the CFPB supervises banks, credit unions, and other financial companies, and we will enforce Federal consumer financial laws.

Study

The consumer bureau gathers and analyzes available information to better understand consumers, financial services providers, and consumer financial markets.

Above all, this means ensuring that consumers get the information they need to make the financial decisions they believe are best for themselves and their families—that prices are clear up front, that risks are visible, and that nothing is buried in fine print. In a market that works, consumers should be able to make direct comparisons among products and no provider should be able to build, or feel pressure to build, a business model around unfair, deceptive, or abusive practices.

Core functions

The consumer bureau is working to give consumers the information they need to understand the terms of their agreements with financial companies. We are working to make regulations and guidance as clear and streamlined as possible so providers of consumer financial products and services can follow the rules on their own.

Congress established the CFPB to protect consumers by carrying out Federal consumer financial laws. Among other things, we:

Conduct rule-making, supervision, and enforcement for Federal consumer financial protection laws

Restrict unfair, deceptive, or abusive acts or practices

Take consumer complaints

Promote financial education

Research consumer behavior

Monitor financial markets for new risks to consumers

Enforce laws that outlaw discrimination and other unfair treatment in consumer finance

Getting started

Learn what the CFPB has been doing in preparation to work for the American public.

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) established the consumer bureau. In January of 2012, President Obama appointed Rich Cordray to be the first Director of the CFPB.

Learn more about Director Rich Cordray and Deputy Director Raj Date.

Read more about the creation of the Consumer Financial Protection Bureau.

As of July 21st, we had:

Launched Know Before You Owe, an effort to combine two federally required mortgage disclosures into a single, simpler form that makes the costs and risks of the loan clear and allows consumers to comparison shop.

Brought together industry representatives, consumer groups, academics, government experts, and others for a conference to review data on how the CARD Act, coupled with the recession and its aftermath, have affected supply, demand, and pricing within the credit card marketplace.

Released reports on:

- The impact of the CARD Act of 2009,
- Variation in credit scores sold by certain consumer reporting agencies,
- Remittances, specifically remittance exchange rates and the use of remittance histories for credit scores, and
- The progress we have made in Building the CFPB.

Reached out to small, independent bankers from all 50 states.

Issued a Notice and Request for Comment seeking public input on issues relevant to defining a “larger participant” in certain consumer financial markets.

BELOW YOU CAN SEE ON WHAT THE CFPB HAS BEEN WORKING. I AM TOLD THAT SINCE ELIZABETH WARREN LEFT IT HAS BEEN HANDED TO WALL STREET TO WRITE RULES THAT MAKE BUSINESS EASIER FOR THEM. LET'S KEEP AN EYE ON THIS.

Notice and comment On this page, you can find the consumer bureau’s Federal Register notices, and the public comments received in response. (What does this all mean? Click or scroll down.)

Open for comment | Closed notices | Closed SORNs Open for comment You can currently provide comments on these notices. Click through to find instructions. You can find closed notices lower down this page.

Remittance Rule (Amendment to Regulation E)
Notice of proposed rulemaking and request for public comment.
Issued 12/21/2012
Comments on the proposed temporary delay of the February 7, 2013 effective date must be received 15 days from publication in the Federal Register | Submit comments on Regulations.gov (comments open soon).
Comments on the remainder of the proposal must be received by 30 days from publication in the Federal Register | Submit comments on Regulations.gov (comments open soon).

Policy to Encourage Trial Disclosure Programs; Information Collection
Notice of proposed policy and proposed information collection with request for comment
Closes 2/15/2013 | Submit a comment

Truth in Lending (Regulation Z)
Proposed rule; request for public comment
Closes 01/07/2013 | Submit a comment

Closed notices The comment period for these notices has expired. You can read the original notices and review the comments we received.

Information on Effective Financial Education
Request for Information
Closed 11/02/2012 |

Consumer Education and Engagement Records
System of Records Notice
Closed 11/02/2012 |

Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z)
Notice of Proposed Rulemaking
Closed 11/06/2012 (Certain portions closed 09/07/2012. See also Notice of Comment Extension for revised finance charge definition.) |

Electronic Fund Transfers; Intent To Make Determination of Effect on State Laws (Maine and Tennessee)
Proposed rule with request for public comment
Closed 10/22/2012 | read comments

Truth in Lending Act (Regulation Z); Loan Originator Compensation
Proposed rule with request for public comment
Closed 10/16/2012 | read comments

Appraisals for Higher Risk Mortgage Loans
Proposed rule with request for public comment
Closed 10/15/2012 | read comments

Equal Credit Opportunity Act (Regulation B) – Appraisals
Proposed rule with request for public comment
Closed 10/15/2012 | read comments

High-Cost Mortgage and Homeownership Counseling Amendments to the Truth in Lending Act (Regulation Z) and Homeownership Counseling Amendments to the Real Estate Settlement Procedures Act (Regulation X)
Notice of proposed rulemaking
Closed 09/07/2012 (Paperwork Reduction Act comment period closed October 15, 2012. See also Notice of Comment Extension on whether and how to account for the implications of a more inclusive finance charge on the scope of HOEPA coverage.) | read comments

2012 Real Estate Settlement Procedures Act (Regulation X) Mortgage Servicing Proposal
Proposed rule with request for public comment
Closed 10/09/2012 | read comments
Update (8/20/12): The proposal was updated to reflect corrections and other changes on page 9 concerning litigation and settlements concerning servicing.

2012 Truth In Lending Act (Regulation Z) Mortgage Servicing Proposal
Proposed rule with request for public comment
Closed 10/09/2012 | read comments
Update (8/20/12): The proposal was updated to reflect corrections and other changes on page 9 concerning litigation and settlements concerning servicing.

Collection of Qualitative Feedback on the Service Delivery of the CFPB
Proposed Collection and Request for Comment
Closed 10/09/2012 | read comments

Enforcement of Nondiscrimination on the Basis of Disability in Programs and Activities Conducted by the Bureau of Consumer Financial Protection
Interim Final Rule With Request For Public Comment
Closed 10/04/2012 | read comments

Proposed Guidelines for Ensuring and Maximizing the Quality, Objectivity, Utility, and Integrity of Information Disseminated by the Bureau of Consumer Financial Protection
Notice of Availability with Request for Comment
Closed 09/04/2012

Information Regarding Consumer Use of Reverse Mortgages
Request for Information
Closed 08/31/2012 | read comments

Equal Access to Justice Act Implementation Rule
Interim final rule with Request for Public Comment
Closed 8/28/2012 | read comments

Information Regarding Senior Financial Exploitation
Request for Information
Closed 08/20/2012 | read comments

Complaints from Private Education Loan Borrowers
Request for Information
Closed 08/13/2012 | read comments

Procedural Rules to Establish Supervisory Authority over Certain Nonbank Covered Persons Based on Risk Determination
Notice of Proposed Rulemaking
Closed 07/24/2012 | read comments

ANPR: Bureau seeks input on General Purpose Reloadable (GPR) Prepaid Cards
Advance Notice of Proposed Rulemaking | Learn more about this ANPR
Closed 07/23/12 | read comments

Disclosure of Consumer Complaint Data
Notice of Proposed Policy Statement
Closed 07/19/2012 | read comments

Agency Information Collection Activities for the Development of Model Forms
Notice and Request for Comment
Closed 07/19/2012 | No comments

Truth in Lending (Regulation Z)
Notice of Reopening of Comment Period and Request for Comment
Closed 07/09/2012 | read comments

Proposed Collection; Comment Request: CFPB Office of Intergovernmental Affairs Outreach Activities
60-Day PRA Notice
Closed 06/29/2012

Impacts of Overdraft Programs on Consumers
Request for Information
Initial comment period closed 04/30/2012; the comment response period was extended to 06/29/2012 | read comments

Supplemental Standards of Ethical Conduct for Employees of the Bureau of Consumer Financial Protection
Interim Final Rule With Request For Public Comment
Closed 06/26/2012 | read comments

Scope, Methods, and Data Sources for Conducting Study of Pre-Dispute Arbitration Agreements
Request for Information
Closed 06/23/2012 | read comments

Truth in Lending (Regulation Z)
Notice and request for information
Closed 06/11/2012 | read comments

Streamlining Inherited Regulations
Notice of streamlining project; request for information
Initial comment period closed 03/05/2012; comment response period closed 06/04/2012 | read comments
(See notice below for more information.)

Streamlining Inherited Regulations
Notice of comment response period extension
Comment response period closed 06/04/2012 | See previous comments

Request for Comment on Payday Lending Hearing Transcript
Notice and request for comment | Closed 04/23/2012 | read comments

Defining Larger Participants in Certain Consumer Financial Products and Service Markets
Proposed Rule and Request for Comment | Closed 04/17/2011 | read comments

Proposed Rule for the Protection of Privileged Information
Notice of Proposed Rulemaking | Closed 04/16/2012 | read comments

Electronic Fund Transfers (Regulation E)
Proposed rule with request for public comment
Effective 02/06/2012; Closed 04/09/2012 | read comments

Electronic Fund Transfers (Regulation E)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/27/2012 | read comments

Real Estate Settlement Procedures Act (Regulation X)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

Equal Credit Opportunity (Regulation B)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

Fair Credit Reporting (Regulation V)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

Interstate Land Sales Registration Program (Regulations J, K, and L)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

Privacy of Consumer Financial Information (Regulation P)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

Truth in Savings (Regulation DD)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

Truth in Lending (Regulation Z)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/21/2012 | read comments

S.A.F.E. Mortgage Licensing Act (Regulations G & H)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/17/2012 | read comments

Consumer Leasing (Regulation M)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/17/2012 | read comments

Consumer Leasing (Regulation M) – correction
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/17/2012 | read comments

Home Mortgage Disclosure (Regulation C)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/17/2012 | read comments

Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance (Regulation I)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/14/2012 | read comments

Fair Debt Collection Practices Act (Regulation F)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/14/2012 | read comments

Mortgage Acts and Practices-Advertising (Regulation N); Mortgage Assistance Relief Services (Regulation O)
Interim final rule with request for public comment
Effective 12/30/2011; closed 02/14/2012 | read comments

Disclosure of Certain Credit Card Complaint Data
Notice of proposed policy statement with request for comment | Closed 01/30/2012 | comments available soon

Request for Information Regarding Private Education Loans and Private Educational Lenders
Notice and request for information | read comments

Research in Development of Disclosure Forms
Generic clearance request | Closed 10/26/2011 | no comments received

Disclosure of Records and Information
Interim final rule with request for public comment | Effective 7/28/2011; closed 09/26/2011 | read comments

Alternative Mortgage Transaction Parity Act (Regulation D)
Interim final rule with request for public comment | Effective 07/22/2011; closed 09/22/2011 | read comments

Request for Information on Consumer Financial Products and Services Offered to Servicemembers
Notice and request for information | Closed 09/20/2011 | read comments

Defining Larger Participants in Certain Consumer Financial Products and Services Markets
Notice and request for comment | Closed 08/15/2011 | read comments

Identification of Enforceable Rules and Orders
Final list | Effective 07/21/2011

Identification of enforceable rules and orders
Notice for public comment | Closed 06/30/2011 | read comments

Designated Transfer Date
Notice and request for comment | Effective 09/10/2010

Closed system of records notices All SORNs, open and closed, are available on our Privacy page.

About ‘Notice and comment’ How do you keep track of what the government does every day? As it turns out, you can do so using something called the Federal Register. Every day, federal agencies publish notices in the Register to give the public the chance to review and comment on rules and other proposed actions before they are made final and go into effect.

The Federal Register is often called “the official journal of the federal government.” But unlike a real journal, the Federal Register is lengthy and pretty hard to use in print.

We want to make it easy for you to keep track of what we’re doing. There are already a few ways to do that – our blog, for example – but we’ve created this page to collect the notices that the Bureau places in the Federal Register. We place many different types of notices in the Register, but here are some examples of what you might see here:

Notices for Comment – Before issuing rules or taking other actions, the Bureau will often provide the public an opportunity to weigh in. For example, an Advance Notice of Proposed Rulemaking solicits public input on a future rulemaking, even before a proposed rule is published. The comments we receive through notices like this can provide important information and guide how we formulate rules.
Information Collection Requests – The Paperwork Reduction Act requires us to notify the public before collecting information (for example, through a survey).

In addition to this page, you can find and comment on all of our Federal Register notices directly through our page on FederalRegister.gov.