Skip to content

35,341 Entries
10 Added in Past 24 Hours

CFPB Report Finds Continued Challenges for Households that Rent

Excerpt:  “Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024. The percentage of renters who paid late fees in the last year reached 23% in February 2023. While the rate declined to slightly less than 14% in November 2024, the CFPB’s analysis found that the median outstanding rental balance rose 60% between September 2021 and November 2024, suggesting increased financial distress among affected households. Renters who do pay late fees often pay multiple late fees in a year, and the average late fee is $85, up significantly from September 2021. Only about half of renters behind on their rent catch up in one month.”