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The Dodd-Frank Wall Street Reform and Consumer Protection Act established an ombudsman within the Consumer Financial Protection Bureau. Pursuant to the Act, the ombudsman shall prepare an annual report and make appropriate recommendations to the Secretary of the Treasury, the Director of the Consumer Financial Protection Bureau, the Secretary of Education, and Congress. This report [...]
When consumers purchase their credit scores from one of the major nationwide consumer reporting agencies (CRAs), they often receive scores that are not generated by the scoring models use to generate scores sold to lenders. The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Consumer Financial Protection Bureau (CFPB) to compare credit scores [...]
Taking in, resolving, and analyzing consumer complaints is an integral part of the CFPB’s work, as Congress set forth in the Dodd-Frank Act. On July 21, 2011, the CFPB began taking consumer complaints. This snapshot report provides an overview of how Consumer Response handles complaints and presents an analysis of complaints received over the period [...]
This Small Business Review Panel Report addresses the CFPB’s upcoming proposal concerning the mortgage servicing rulemaking. The Dodd-Frank Wall Street Reform and Consumer Protection Act imposes certain requirements concerning mortgage servicing that become self-executing and enforceable on January 21, 2013, unless final rules are issued on or before that date. The CFPB is also considering [...]
Section 1017(e)(4) of the Dodd-Frank Act gives the Bureau a statutory responsibility to present this report. It covers the period of time from July 21, 2011, when the Bureau opened its doors through June 30, 2012. The CFPB is proud of the accomplishments that it has achieved in its first year. But this marks only [...]
The Consumer Financial Protection Bureau is the nation’s first federal agency focused solely on consumer financial protection. In fulfillment of its statutory responsibility and its commitment to accountability, the CFPB is pleased to present its inaugural Semi-Annual Report to the President and Congress. This report provides an update on the Bureau’s activities and accomplishments since [...]
