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The CFPB has announced that it has made changes to its semi-annual survey of credit card terms.  According to the CFPB, the changes are “designed to increase price competition in the credit card market by allowing people to comparison shop for the best prices and products.”

The Fair Credit and Charge Card Disclosure Act of 1988 requires the CFPB to collect data semi-annually from the largest 25 credit card issuers and at least 125 additional issuers selected by the CFPB based on geography and other considerations. … Continue Reading

The CFPB published two notices in today’s Federal Register seeking OMB approval for two surveys, one dealing with debt collection and the other with household balance sheets.

Debt collection.  The request described in the notice is a resubmission of a previously published request to OMB seeking approval to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. … Continue Reading

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, 2018.

According to the notice, the testing “will explore consumer comprehension and decision-making in response to overdraft disclosure forms. … Continue Reading

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 received on or before December 14, 2017.  In June 2017, the CFPB had published a notice in the Federal Register announcing its plans to seek OMB approval for the survey and soliciting comments.… Continue Reading

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 disclosures.  Comments must be received on or before August 4, 2017.

Last July, in anticipation of convening a SBREFA panel for the CFPB’s debt collection rulemaking, the CFPB issued an outline of the proposals it is considering. … Continue Reading

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.

Survey.  Of the 1,567 CFPB employees surveyed, 1,372 (almost 87.6%) responded to the 2016 survey.  We were pleased to see that the survey results appear to show that the CFPB has made progress in improving  its work environment. … Continue Reading

The CFPB has taken another step towards implementing its proposal to add a survey to its current complaint intake form that a consumer could choose to complete to provide feedback on the company’s response to his or her complaint.

The proposal would allow a consumer to opt-in and provide this feedback publicly, much the way he or she can with the complaint narrative. … Continue Reading

The Consumer Bankers Association and the American Bankers Association have submitted a comment letter setting forth their opposition to the CFPB’s proposed addition of a survey to the current complaint intake form.

In a notice published in the Federal Register in August 2016, the CFPB proposed to add a survey that consumers may choose to respond to, providing their feedback on the company’s response to their complaint.  … Continue Reading

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 that improvement in consumer financial well-being is the ultimate goal of its financial literacy initiatives. … Continue Reading