This Complaint Snapshot provides a high-level overview of trends in consumer complaints and supplements the Consumer Response Annual Report with more recent information about monthly changes in complaint volume.

In this paper, we study the effects of FinTech lending on the U.S. mortgage market. Our
main hypothesis is that the FinTech lending model represents a technological innovation that
reduces frictions in mortgage lending, such as lengthy loan processing, capacity constraints,
inecient renancing, and limited access to nance by some borrowers.

This paper is the Credit Union National Association’s (CUNA) comprehensive response to the various requests for information (RFIs) issued by the Bureau of Consumer Financial Protection (Bureau or CFPB) in the spring of 2018.
Credit unions are the original consumer financial protectors. Because of their not-for-profit, cooperative ownership structure, credit unions do not face the same market pressures and they do not have the same structural motives as for-profit financial services providers. This distinction, combined with decades of providing consumer friendly financial services, is the key reason that consumer protection regulation should be tailored so that it is not overly burdensome on credit unions.