The Consumer Financial Protection Bureau (CFPB) is a federal agency in the United States that was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act...

A financial investment is the practice of using money to purchase and hold assets for the purpose of making a profit. These investments can include stocks, bonds, mutual funds...

Gross Domestic Product (GDP) is a measure of the monetary value of all goods and services produced within a country in a given year. It is used to measure the size and strength...

Closed-end credit refers to a type of loan or credit in which the amount borrowed is set in advance and the loan is repaid over a fixed period of time in installments, typically through...

A prepayment penalty is a fee imposed on a borrower who pays off their loan earlier than the agreed upon maturity date. This type of penalty is typically found in fixed-rate loans...

Amortization in financial terms refers to the process of paying off a debt over a period of time through regular payments. The payments are structured to include both principal and...

Inflation occurs when there is an increase in the money supply in relation to the economy’s ability to produce goods and services. As a result, there is a sustained increase in the general price...

The Fair Debt Collection Practices Act (FDCPA) is a federal law that regulates the behavior of debt collectors and provides consumers with protection from abusive, deceptive, and unfair...

Refinancing is the process of obtaining a new loan to replace an existing one. The most common reasons to refinance include reducing the interest rate, shortening the loan term...