The mission of the Consumer Financial Protection Bureau is to make markets for consumer financial products and services work for consumers by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. Empowering consumers to take control of their financial lives and achieve their own life goals is a critical part of the Bureau's mission. Consumers need four things to be financially empowered. First, consumers need consistent access and the ability to choose among high-quality financial services....
The mission of the Consumer Financial Protection Bureau is to make markets for consumer financial products and services work for consumers by making r...
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 sold to creditors and those sold to consumers by nationwide CRAs and determine whether differences between those scores disadvantage consumers. CFPB analyzed credit scores from 200,000 credit files from each of the three major...
When consumers purchase their credit scores from one of the major nationwide consumer reporting agencies (CRAs), they often receive scores that are no...
The Bureau of Consumer Financial Protection, known as the Consumer Financial Protection Bureau (CFPB), was established on July 21, 2010 under Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act Public Law No. 111-203 (Dodd-Frank Act). The CFPB was established as an independent bureau within the Federal Reserve System. The Bureau is an Executive agency as defined in Section 105 of Title 5, United States Code.
The Bureau of Consumer Financial Protection, known as the Consumer Financial Protection Bureau (CFPB), was established on July 21, 2010 under Title X ...
With over 50 million Americans aged 62 and older, Older Adults are prime targets for financial exploitation both by persons they know and trust and by strangers. Financial exploitation has been called "the crime of the 21st century" with one study suggesting that older Americans lost at least $2.9 billion to financial exploitation by a broad spectrum of perpetrators in 2010. A key factor in some cases of elder financial exploitation is mild cognitive impairment which can diminish an older adult's ability to make sound financial decisions. This epidemic is under the radar. The cases tend to be...
With over 50 million Americans aged 62 and older, Older Adults are prime targets for financial exploitation both by persons they know and trust and by...
About this guide: To help assisted living and nursing facility managers and staff prevent and address elder financial exploitation of their residents, the Office for Older Americans contracted and worked closely with Iris Freeman, MSW, William Mitchell College of Law, to prepare this guide. The guide is not intended to provide legal advice or serve as a substitute for your own legal counsel. If you have questions or concerns about legal issues and responsibilities, we recommend that you seek the guidance of the appropriate legal professional.
About this guide: To help assisted living and nursing facility managers and staff prevent and address elder financial exploitation of their residents,...
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) mandates that the Director of the Consumer Financial Protection Bureau (CFPB or Bureau) submit a report, no later than 24 months after the designated transfer date, and annually thereafter, on the Bureau's activities and strategy to improve the financial literacy of consumers to the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives. The Bureau is pleased to submit this inaugural report on the Bureau's financial literacy work. The...
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) mandates that the Director of the Consumer Financial Protection Bureau ...
