Posts from October 2011

We started Know Before You Owe several months ago to make mortgage disclosure forms easy to understand and easy to compare. The idea was and is that people should see the basic facts about the loan they’re applying for right up front.

But this idea holds true in areas far beyond mortgages. That’s why today, we are beginning a project with the Department of Education to apply this same idea to student loans. Right up front, before they commit, students should see the basic facts about what they’re going to pay for school. (more…)

Between the increasing cost of higher education and the impact of the financial crisis, students are more reliant than ever on loans to pay for school.

With November around the corner, student loans are about to become an even bigger worry for some new graduates. Most federal student loans and many private student loans offer borrowers a six month grace period after leaving school before they must begin repaying. Since college students often graduate in May or June, many borrowers are nearing the end of that six month grace period now.

These borrowers may be asking themselves some important questions. (more…)

Today’s live events have now ended. You can read Raj’s full remarks from the University of Minnesota.

Be sure to check out the new Know Before You Owe – student loans initiative. We’re helping the Department of Education to develop a new model financial aid offer. Tell us what you think of the project.

You can watch an archived version of this morning’s speech below:

The content on this page changed throughout the day to reflect the current or upcoming video.

Greetings. I’m Skip Humphrey, and I’m excited to begin work at the Consumer Financial Protection Bureau (CFPB) as the head of the Office of Older Americans.

I grew up in a household where it wasn’t enough to just have a point of view. My parents taught me that if I had a problem, I needed to do something about it. Here at the Office of Older Americans, we’ll be embracing this do-something attitude from day one. (more…)

Four times since May, we have asked you to take a few minutes to help us create a simpler mortgage disclosure form. Each time, you told us what you liked and disliked, and what you thought was effective at communicating important loan information. (more…)

Today, the CFPB released the CFPB Supervision and Examination Manual, the guide for our examiners to use in overseeing companies that provide consumer financial products and services. (more…)