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The CFPB, now fully operational after the installation of Director Richard Cordray, recently established an advisory council for credit unions, a tracking system for financial scams targeting the military and a revamped form for mortgage disclosures.
The Consumer Financial Protection Bureau (CFPB) has begun another stage of its â€œKnow Before You Oweâ€ project, unveiling a two-page credit card disclosure that clearly lays out the key terms that consumers need to know.
Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the revised forms are meant to help both consumers and lenders by simplifying the mortgage process. Comment by May 27.