Consumer Financial Protection Bureau Initiatives

The Consumer Financial Protection Bureau (CFPB) announced on June 24, 2026, its efforts to correct existing flaws in its consumer complaint system. The agency acknowledged that the portal has been hindered by issues that significantly limit its ability to effectively address consumer complaints and the practical utility of its information [CFPB Newsroom]. This initiative aims to restore the integrity and usefulness of the system, which serves as a critical channel for consumers to report financial misconduct.

In related news, the CFPB also announced a joint final rule on June 25, 2026, to adopt uniform standards for reporting financial data [CFPB Newsroom]. Earlier in June, the CFPB addressed issues affecting consumers during Bilt's transition to a new bank partner, meeting with Bilt officials to ensure those impacted were appropriately remedied [CFPB Newsroom]. The CFPB continuously works on various fronts to protect consumers, including releasing 2025 Home Mortgage Disclosure Act (HMDA) data and withdrawing a joint statement with the Department of Justice regarding fair lending for noncitizen borrowers [CFPB Newsroom].

Federal Trade Commission Alerts on Scams

The Federal Trade Commission (FTC) has issued several consumer alerts, with a particular focus on scams targeting the military community. In observance of Military Consumer Month 2026, the FTC emphasized on July 1, 2026, the importance of discussing scams to help military personnel avoid them. Scammers often target this community, attempting to steal money and benefits [FTC Consumer Alerts].

Beyond military-specific concerns, the FTC also recently warned consumers about a variety of other scams. These include pet scams, where individuals manipulate images and use AI-generated deepfakes to deceive animal lovers, and travel scams that emerge during the summer months when people seek vacation deals [FTC Consumer Alerts]. The agency further cautioned against imposter scams, particularly highlighting those affecting the elderly on World Elder Abuse Awareness Day, and jury duty scams that threaten arrest for missed service [FTC Consumer Alerts]. Additionally, the FTC advised against fake check scams targeting childcare providers and new phishing attempts resembling CAPTCHA requests [FTC Consumer Alerts].

Federal Reserve Actions

The Federal Reserve Board (FRB) recently released initial findings from its 2025 triennial payments study on July 1, 2026 [Federal Reserve Press Releases]. The FRB also issued enforcement actions, including one with Small Business Bank, and terminated actions with entities such as BNP Paribas S.A., BNP Paribas USA, Inc., BNP Paribas Securities Corp., and Community Bankshares, Inc. on July 2, 2026 [Federal Reserve Press Releases]. Earlier in June, the FRB's annual bank stress test confirmed that large banks are resilient enough to handle a severe recession and capable of continuing lending to households and businesses [Federal Reserve Press Releases].