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Consumer Alert: COVID-19 Financial Relief and Protections Extended

Consumer Alert: COVID-19 Financial Relief and Protections Extended

According to the Consumer Financial Protection Bureau (CFPB), the Federal Government is extending relief and protections for many student loan borrowers, renters, and homeowners who experiencing financial difficulty during the pandemic.  See below for more specifics.

  • Student Loans: Principal and interest payments on federally held student loans are automatically suspended through September 30, 2021. You can learn more about protections for student loan borrowers.
  • Protection for Renters: The Centers for Disease Control and Prevention (CDC) has announced an extension to their current order that halts certain residential evictions. The extension stops evictions until at least March 31, 2021.
  • Mortgage relief options and protections: For mortgages backed by some government agencies, the deadline to request an initial forbearance is February 28, 2021. For mortgages backed by some government agencies, the deadline to request an initial forbearance is February 28, 2021. Others may not yet have specified a deadline or may have specified a later date. More information about mortgage relief options can be found on the CFPB mortgage relief website.

The CFPB helps consumer finance markets work by making rules more effective and by consistently and fairly enforcing those rules. They also empower consumers to take more control over their economic lives. The CFPB continues to post new information about consumer protections during the COVID-19 pandemic.  To keep up to date with important updates about COVID-19 financial relief programs, check the CFPB coronavirus website.

Your Employee Assistance Program is Here to Help

Your Employee Assistance Program is a great resource for financial and legal assistance.  They can help you or any member of your household identify financial or legal services as well as counseling.  For any additional questions, contact your Component EAP specialist or DHS Work-Life Specialist at worklife@hq.dhs.gov.

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