News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Surveys

Ballard Spahr LLP

CFPB seeking OMB approval for new consumer complaint surveys

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The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget for two new surveys intended to identify factors that influence a consumer’s...more

Hudson Cook, LLP

Four (or Fewer) Thoughts on the CFPB and Buy Now, Pay Later: A Review of "Consumer Use of Buy Now, Pay Later."

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On March 2, 2023, the CFPB released a report entitled "Consumer use of Buy Now, Pay Later: Insights from the CFPB Making Ends Meet Survey," examining Buy Now, Pay Later ("BNPL") products. BNPL products typically allow...more

Sheppard Mullin Richter & Hampton LLP

CFPB Report Details Financial Profiles of BNPL Borrowers

On March 2, the CFPB published a report analyzing the financial profiles of consumers who borrow through buy now, pay later (BNPL) lending products. The report found that BNPL borrowers on average are more likely to be active...more

Sheppard Mullin Richter & Hampton LLP

CFPB Blogs About Buy Now Pay Later

On July 6, the CFPB posted a blog titled, “Should you buy now and pay later?” describing how buy now pay later (BNPL) deferred payment options work, and the benefits and risks that come with BNPL. Generally, if a consumer...more

Hudson Cook, LLP

CFPB Survey Seeks Information on Costs of Small Business Finance Data Collection

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The Consumer Financial Protection Bureau (CFPB) is asking providers of small business finance to take a survey on potential up-front costs associated with complying with Section 1071 of the Dodd-Frank Wall Street Reform and...more

Bradley Arant Boult Cummings LLP

CFPB Releases Small Business Lender Compliance Cost Survey to Aid in Dodd-Frank 1071 Rulemaking

Recently, the CFPB released an online survey designed to collect information from “institutions engaged in small business financing” regarding one-time costs of compliance with Dodd-Frank 1071. Section 1071 of the Dodd-Frank...more

Ballard Spahr LLP

You Can Still Comment on the TRID Rule Assessment

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As we previously reported, the CFPB is conducting an assessment of the TILA/RESPA Integrated Disclosure (TRID) Rule. Although the comment period associated with the Federal Register notice regarding the assessment ended on...more

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Initial Release of Public Use File With Data From the National Survey of Mortgage Originations

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The CFPB and Federal Housing Finance Agency (FHFA) have released the first public use file containing data from the National Survey of Mortgage Originations. The NSMO is a component of the National Mortgage Database (NMDB®)...more

Ballard Spahr LLP

NYDFS sends survey request to online lenders

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The New York Department of Financial Services has sent a letter directed to businesses that the DFS “understands…may be involved in online lending in the State of New York” and that asks recipients to complete a “New York...more

Ballard Spahr LLP

CFPB withdraws request to OMB to conduct online debt collection survey

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The CFPB has withdrawn its request to OMB to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. Last month, the CFPB published a notice in the Federal Register that it was...more

Ballard Spahr LLP

CFPB to seek OMB approval for testing of overdraft disclosures

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The CFPB has published a notice in the Federal Register announcing that it plans to seek OMB approval to conduct online testing of ATM/overdraft disclosures with 8,000 individuals. Comments are due on or before January 16,...more

Ballard Spahr LLP

CFPB submits request to conduct online debt collection survey to OMB

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The CFPB has published a notice in the Federal Register that it has submitted to OMB its request to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. Comments must be...more

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CFPB releases report on financial well-being of consumers and new consumer tool

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The CFPB has released a new report, “Financial well-being in America,” and a new on-line interactive tool that allows consumers to measure their own financial well-being and access CFPB resources intended to help consumers...more

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CFPB to seek OMB approval of survey on debt collection disclosures

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In a notice published earlier this week in the Federal Register, the CFPB announced that it plans to seek OMB approval to conduct an online survey of approximately 8,000 individuals as part of its research on debt collection...more

Ballard Spahr LLP

ACA International flags shortcomings in CFPB national debt collection consumer survey

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In a new white paper, “An Overview of the Analytical Flaws and Methodological Shortcomings of the CFPB’s Survey of Consumer Experiences with Debt Collection,” ACA International takes aim at the report released by the CFPB in...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Releases Findings From Its Debt Collection Survey

The CFPB recently released its findings from its Survey of Consumer Views on Debt. The report is of limited value as it contains a relatively small sampling of consumers. 10,876 consumers were selected based upon...more

Ballard Spahr LLP

CFPB’s national debt collection consumer survey findings lays groundwork for future enforcement and rulemaking priorities

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Early yesterday, the CFPB released the findings of its national debt collection consumer survey. Both the headline of the CFPB’s press release and Director Cordray’s remarks highlight the survey’s finding that “over...more

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CFPB releases annual employee survey results, 2016-2020 Diversity and Inclusion Strategic Plan

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The CFPB released two items at year-end:  the results of its 2016 annual employee survey and its updated Diversity and Inclusion Strategic Plan (Strategic Plan) for 2016-2020....more

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FTC Proposes Survey of Consumer Experience in Financing Auto Purchases through Dealers

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The Federal Trade Commission has announced plans to conduct a survey of consumers regarding their experiences in buying and financing automobiles at dealerships. According to the supplementary information in the notice...more

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CFPB plans national survey on financial well-being

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The CFPB has published a notice in the Federal Register indicating that it is planning to conduct a “Financial Well-Being National Survey.” In the notice, the CFPB states that through its prior research, it has determined...more

Goodwin

Financial Services Weekly News - October 2015 #3

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Regulatory Developments: FINRA Requests Comment on Rules Relating to Financial Exploitation of Vulnerable Adults - On Oct. 15 FINRA published Regulatory Notice 15-37, requesting comment on proposed amendments to...more

Ballard Spahr LLP

CFPB seeking approval for national web survey on overdraft disclosures

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The CFPB has published a notice indicating that it is seeking approval from the Office of Management and Budget to conduct “a national web survey of 8,000 individuals as part of its study of ATM/debit card overdraft...more

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Some thoughts on the St. John’s School of Law’s analysis of consumer understanding of arbitration agreements

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Following on the heels of the Pew Foundation’s survey of consumer attitudes towards arbitration and the CFPB’s on-going empirical study of consumer arbitration, a group of professors from St. John’s University School of Law...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

ESMA Securities and Markets Stakeholder Group Responds to ESMA Consultations on Draft Technical Standards and Technical Advice on the Market Abuse Regulation - On October 13, the Securities and Markets Stakeholder...more

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OMB gives go-ahead to CFPB telephone survey of consumers for arbitration study

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Over the vigorous objections of industry trade groups, on September 4, 2014, the Office of Management and Budget (OMB) approved the CFPB’s request to conduct a national telephone survey of 1,000 credit card holders as part of...more

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