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Policy Issues

Consumer Protection

While financial education can help individuals become informed consumers of financial products and services, consumer protection policies can help ensure that families and individuals are protected against predatory practices found in these markets.

An Overview of the Consumer Financial Protection Bureau’s Plan for Regulating the Debt Collection Industry | Executive Summary (February 2017)
This executive summary follows the release of a policy brief and the hosting of a webinar on debt collection late last year.

Abusive Debt Collection Practices Increase Financial Instability | Federal Policy Brief (December 2016)
Abusive debt collection practices like pursuing debts that are no longer legally owed, harassing consumers, and even making threats of arrest or deportation, can cause severe financial instability for families.

Comment Letter to Director Richard Cordray, Consumer Financial Protection Bureau | Comment Letter (October 2016)
Comments submitted by CFED to the Consumer Financial Protection Bureau (CFPB) regarding the proposed rules for regulating the small-dollar lending industry, released on June 2, 2016.

Predatory Lending Takes Advantage of Financial Insecurity | Federal Policy Brief (January 2014)
This Federal Policy Brief explores the reasons why this system targets the most economically disadvantaged and what federal lawmakers can do to quell this troubling system.

Account History Reporting Creates Big Barrier to Getting Banked | Federal Policy Brief (May 2014)
This brief details policy solutions to the opaque practices used in account history reporting, which often makes it difficult for low-income consumers to open a bank account.

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More Resources

Federal Stroke of a Pen Guide: FDIC Small Dollar Loan Pilot Program | CFED Report (April 2012)
This guide to achievable federal policy includes recommendations about small dollar loan pilots and more.

State Stroke of a Pen Guide: Require Lenders to Report Data on Predatory Small Dollar Loans | CFED Report (November 2011)
This guide to achievable state policy includes information on how to protect consumers from predatory small-dollar loans and keep millions of dollars from leaving communities each year.

Building Economic Security in America’s Cities | CFED Report (January 2011)
Municipal leaders are increasingly concerned about the local effects of predatory lending practices; many cities have led the way in actively protecting residents from the harmful effects of predatory lending.

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