The Dispatch Briefing
Federal Reserve Releases Payments Study Findings, CFPB Addresses Complaint System Flaws and Bilt Issues
The Federal Reserve has published initial findings from its 2025 triennial payments study, while the CFPB has announced steps to improve its consumer complaint system and ensure Bilt customers were made whole following a transition to a new bank partner.
Federal Reserve Releases 2025 Payments Study Findings
The Federal Reserve has announced the initial findings from its 2025 triennial payments study on July 1, 2026 [Federal Reserve Press Releases]. This study typically provides comprehensive data and analysis on noncash payments in the United States, offering insights into payment trends, innovations, and consumer behavior related to payment methods. The initial findings aim to inform policymakers, financial institutions, and consumers about the evolving payments landscape.
CFPB Addresses Consumer Complaint System and Bilt Issues
The Consumer Financial Protection Bureau (CFPB) has initiated efforts to correct flaws within its consumer complaint system. On June 24, 2026, the CFPB stated that the existing complaint portal has been hindered by issues limiting its effectiveness in resolving consumer complaints and the practical utility of its information [CFPB Newsroom]. The agency intends to restore integrity and utility to the system.
Separately, the CFPB has been working to ensure consumers affected by Bilt's transition to a new bank partner are appropriately remedied. CFPB officials met with Bilt to understand the challenges encountered during the transition and the actions taken by the company to assist affected customers [CFPB Newsroom]. This intervention aims to protect consumers experiencing disruptions due to financial service provider transitions.
New Joint Final Rule for Financial Data Reporting
On June 25, 2026, the CFPB announced a joint final rule focused on adopting uniform standards for reporting financial data [CFPB Newsroom]. This rulemaking initiative is intended to standardize how financial institutions report data, potentially leading to greater transparency and consistency across the financial sector. The enhanced data standards could benefit consumers by providing clearer insights into financial products and services.
FTC Advises on Scams During Military Consumer Month
Starting July 1, 2026, the Federal Trade Commission (FTC) is observing Military Consumer Month. The FTC emphasizes that discussing scams is crucial for prevention within the military community [FTC Consumer Alerts]. The agency highlights common schemes targeting service members and their families, advising vigilance against tactics designed to steal money and benefits. This initiative aims to educate and empower military consumers against fraud.
Keep Reading
CFPB Highlights Financial Literacy, FTC Warns of Scams Targeting Scammed Consumers
The CFPB recently emphasized the importance of financial literacy, while the FTC issued a consumer alert regarding new scams that target individuals who have previously fallen victim to fraud. This highlights ongoing efforts to both educate and protect consumers from financial harm.
FTC Warns Against Recovery Scams; CFPB Addresses Consumer Complaints, Financial Literacy
The Federal Trade Commission recently issued a consumer alert regarding 'recovery scams,' which target individuals who have previously fallen victim to fraud. Meanwhile, the Consumer Financial Protection Bureau continues efforts to enhance its complaint system and promote financial education.
CFPB Addresses Consumer Complaints and Financial Literacy; FTC Warns on Scams
The CFPB is working to restore the integrity of its consumer complaint system and focusing on financial education. Meanwhile, the FTC has issued multiple warnings regarding scams targeting consumers, especially military personnel and those seeking health or debt relief.
How to Read Debt Relief Company Complaints
Consumer complaint databases serve as an early-warning tool to identify patterns of misleading savings claims and undisclosed fees. Effective research requires searching a provider's full legal name rather than just its brand. Readers should evaluate how companies respond to disputes to determine if they transparently disclose the risks of credit damage and potential lawsuits.
Debt Payoff Calculator: Find Your True Payoff Date
A debt payoff calculator provides borrowers with a definitive calendar date for becoming debt-free based on specific interest rates and monthly payments. By comparing different scenarios, users can see how modest payment increases significantly reduce total interest costs. These tools help determine if a self-directed plan is sustainable or if professional debt relief is necessary.
How Long Does Bankruptcy Stay on Your Credit Report?
Chapter 7 bankruptcies typically remain on credit reports for 10 years, while Chapter 13 cases are generally removed after seven. Although these entries originate from the initial filing date, their negative impact on credit scores often diminishes over time as consumers establish new histories of on-time payments.
Sponsored — Debt Relief Offers
Sources & Further Reading
Revision History
- updateJuly 5, 2026 — Initial publication. Assembled by the newsroom from 3 curated sources.
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