Data Spotlight: Challenges in Rural Banking Access
The CFPB is renewing its focus on the specific challenges of rural consumers, including more focused and sustained outreach to rural stakeholders, researching relevant open questions, and using the CFPB’s authorities, resources, and roles across the government to address the problems facing rural consumers.
This report highlights the CFPB’s research on rural consumers as well as contextual information from other agencies on the consumer finance challenges faced by rural communities. This report is a starting point for a CFPB initiative that will include devoted engagement with rural communities across the country, research into challenges faced by rural communities, and actions to protect rural consumers from predatory bad actors and repeat offenders in consumer financial markets. The CFPB is committed to ensuring that markets are working for rural communities and offering rural people a fair chance to thrive in their communities.