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WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) announced today that servicemembers, veterans, and their families who complained to the Bureau about financial products or services have recovered more than $1 million. The relief was reported in the CFPB’s second snapshot of complaints from military consumers, which also highlighted how some military families are not receiving the added consumer protections they have earned.
Good morning. It is my pleasure to be with you at this Common Ground Conference. I would like to thank Attorney General Masto for hosting this important event, along with Jessica Rich and all of our colleagues at the Federal Trade Commission. I know that an enormous amount of work goes into planning these events, but I think we can all agree that it is well worth the effort. The FTC has held many of these Common Ground Conferences around the country, and we are delighted to be participating in this one.
Thank you for joining us as we meet with our Consumer Advisory Board. We all look forward to our dialogue with our CAB members, who share with us their perspective, their expertise, and their actual experience on the ground. We are all here because we care deeply about how people are being treated in the consumer financial marketplace.
Bureau Report Finds Accuracy Issues Top Credit Report Complaints; Warns on Avoiding Investigations WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) called on the nation’s top credit card companies to make credit scores and related content freely available to their customers. A report released by the CFPB today found accuracy issues top the […]
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against ITT Educational Services, Inc., accusing the for-profit college chain of predatory student lending. The CFPB alleges that ITT exploited its students and pushed them into high-cost private student loans that were very likely to end in default. The CFPB is seeking restitution for victims, a civil fine, and an injunction against the company.
Thank you all for joining us today. And thank you to Attorney General King, Attorney General Madigan, Attorney General Miller, and Attorney General Conway for being with us. Financial products can be a way for Americans to achieve dreams: to buy a home, to start a small business, and importantly, to go to school. People […]
Thank you for having me back again this year. I am glad to say that I now stand before you as the undisputed Director of the Consumer Financial Protection Bureau, having been confirmed by a strongly bipartisan vote of the Senate last summer. That was an important milestone for me and for our new agency, and we all thank you for your strong support throughout that process. It means not only that the Consumer Bureau has fully come into its own, but also that we are building a solid foundation for a long time to come.
I want to thank all of you here for your interest in helping hardworking consumers achieve financial peace of mind. I firmly believe that employers who provide financial education in the workplace are not only doing the right thing, they are doing the smart thing for their employees and their businesses.
Today, the Consumer Financial Protection Bureau ordered a Connecticut mortgage lender, 1st Alliance Lending, LLC (First Alliance), to pay an $83,000 civil money penalty for violating federal law by illegally splitting real estate settlement fees. First Alliance self-reported these violations to the Bureau, admitted liability, and provided information related to the conduct of other actors that has facilitated other enforcement investigations.
Prepared Remarks of Steven Antonakes Deputy Director of the Consumer Financial Protection Bureau Mortgage Bankers Association Orlando, Florida February 19, 2014 Good afternoon. Thank you for the invitation to be here with you today. By way of background, I am a career bank regulator. I cut my teeth during the end of the S&L Crisis […]
Thank you all for being here. Our topic of discussion today has deep resonance for me. Having worked on financial education issues at the local, state, and now the federal level of government, I have come to know firsthand how important it is for our school districts, as well as state and local officials, to be directly involved in the financial education of our children.
Thank you for joining us. Today we are taking important steps to improve information about the residential mortgage market. As Congress required in the Dodd-Frank Act, we are considering proposing rules that would make changes in how financial institutions report their mortgage activity. One of the main purposes of this effort is to gain greater insight into issues about access to credit. We are also releasing an important new tool today so the public can better use the mortgage loan data that is already available. Taken together, we believe these efforts can improve the quality of and access to mortgage loan data, even as we relieve many of the pain points for creditors in the current data collection process. In short, these efforts are about better information, better collection, and better access to mortgage loan data.
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) is taking steps to improve information reported about the residential mortgage market to help better understand borrowers’ access to credit. As a first step in the rulemaking process, the CFPB is convening a panel of small businesses to provide feedback on potential changes to mortgage information reported under the Home Mortgage Disclosure Act (HMDA). Today the Bureau is also unveiling a new online tool that makes it easier to navigate the publicly available HMDA data.
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting problems like unfair and deceptive practices in the mortgage servicing market uncovered through the Bureau’s supervision program in 2013. The report also notes that, between July and October 2013, consumers received $2.6 million as result of overall non-public supervisory activities at the banks and nonbanks the CFPB oversees.
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) initiated an administrative proceeding against PHH Corporation and its affiliates (PHH), alleging PHH harmed consumers through a mortgage insurance kickback scheme that started as early as 1995. The CFPB is seeking a civil fine, a permanent injunction to prevent future violations, and victim restitution.