Updating a previous CFPB report, this blog documents increasing signs of financial strain through September 2022 among student loan borrowers who are expected to face monthly payments when federal forbearances end. It also tracks changes in other risk factors for which consumers are most likely to experience financial difficulties when the relief ends, depending on implementation of new debt cancellation proposals.
Testimony & Comment Letters
FinRegLab Responds to the CFPB’s Advanced Notice of Proposed Rulemaking on Consumer Access to Financial Records.
We recognize the breadth of urgent issues facing the Consumer Financial Protection Bureau and the nation at this time, but believe that resolving critical questions about access to financial data would substantially benefit consumers, small businesses, and financial services providers in helping to recover from the Covid-19 pandemic, address longstanding racial wealth gaps, and make U.S. financial systems more generally inclusive, competitive, and responsive to customer needs.
This paper examines geographic patterns to assess the extent to which where one resides is correlated with one’s likelihood of remaining credit invisible. The paper explores the following topics: credit deserts, credit invisibility in rural and urban areas, entry products by geography, and credit invisibility.
The Bureau of Consumer Financial Protection’s Office of Research