An official website of the United States Government


We are committed to engaging with the public and members of the media regularly with accurate and up-to-date information on our work. Below are materials produced by our Office of Communications.

You can also view documents that provide guidance to industry and the public.

For press inquiries, please email us at Be sure to include your name, contact information, your publication, and your deadline.

CFPB Report Outlines Legal Violations Uncovered by Supervision

Examiners Recover $19.4 Million in Remediation for more than 92,000 Consumers WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released its latest supervision report highlighting legal violations uncovered by the Bureau’s examiners. The Bureau found deceptive student loan debt collection practices, unfair and deceptive overdraft practices, mortgage origination violations, fair lending violations, and […]

CFPB Study Finds That Arbitration Agreements Limit Relief for Consumers

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau released a study indicating that arbitration agreements restrict consumers’ relief for disputes with financial service providers by limiting class actions. The report found that, in the consumer finance markets studied, very few consumers individually seek relief through arbitration or the federal courts, while millions of consumers […]

Prepared Remarks of CFPB Director Richard Cordray at the Arbitration Field Hearing

By Richard Cordray

Today we are releasing the results of our study and we are providing our arbitration report to Congress as the law requires us to do. As far as we are aware, this is the most comprehensive empirical study of consumer financial arbitration ever conducted. It is not possible in the space of a few minutes to do justice to the depth and richness of the Consumer Bureau’s report. But I want to discuss a few key findings that shed light on some of the major questions that have been much debated by various stakeholders.

Prepared Remarks of CFPB Director Richard Cordray at the President’s Advisory Council

By Richard Cordray

Earning a college degree has become increasingly important to personal and professional success in life. Yet we know it also can impose long-term burdens that borrowers struggle to manage. Today, outstanding student debt in this country has topped a trillion dollars, making it the second largest source of debt behind mortgages. Before taking out loans to finance their education, our young people must be better equipped to make smart decisions about managing college costs.

Prepared Remarks of CFPB Director Richard Cordray at the Financial Literacy and Education Commission Meeting

By Richard Cordray

Whether lifeguarding at the local pool or mowing lawns for the city, summer jobs are often a young person’s first small taste of financial freedom and greater responsibility. We made an effort to use this period when young people are receiving their first paychecks to reach them with valuable financial messages. We believe that if we can help instill good saving habits at this early stage, we can help young people lay the proper groundwork for their financial futures. So how can we encourage more youth to start saving?

CFPB Seeks to Improve Process for Industry Submission of Consumer Credit Card Agreements

Bureau Proposes to Temporarily Suspend Card Issuers’ Obligation to Submit Credit Card Agreements WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) issued a proposal aimed at improving the way that companies submit consumer credit card agreements to the Bureau. The proposal would temporarily suspend a requirement that each quarter certain credit card issuers […]

Prepared Remarks of CFPB Director Richard Cordray at Retirement Savings Event

By Richard Cordray

For most Americans, retirement security depends on starting to save early and protecting those savings by making informed investment decisions. The retirement savings market can be complicated and confusing. It can be challenging for consumers to make well-informed decisions about important issues that determine their future economic security. Many Americans rely on professional financial advice when they make decisions about their retirement savings. So it is critical that when they seek out professional guidance, they can trust the financial adviser to put the consumer’s interests first.

Prepared Remarks of CFPB Director Richard Cordray at the National Association of Attorneys General

By Richard Cordray

Robert F. Kennedy once said something that is apt for the work we all do: “The challenge of politics and public service is to discover what is interfering with justice and dignity for the individual here and now, and then to decide swiftly upon the appropriate remedies.” I have spoken with you before about some of these obstacles that interfere with justice and dignity for consumers – which we regularly refer to as “the four Ds.” We see them much too often: deceptive marketing, debt traps, dead ends, and discrimination. Today I would like to revisit these obstacles and describe some of the progress we are making to combat them.

CFPB Reports That More Than 50 Million Credit Card Consumers Have Access to Free Credit Scores

New Study Indicates that Consumers Access Credit Scores and Credit Reports in a Variety of Ways but Confusion Persists WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) reported that more than 50 million consumers now have free and regular access to their credit scores through their monthly credit card statements or online. Last […]

Prepared Remarks of CFPB Director Richard Cordray at the Consumer Advisory Board Meeting

By Richard Cordray

A year ago, I focused my remarks to this group on the work the Consumer Financial Protection Bureau is doing on credit reporting. Today, I would like to give you an update on that work in anticipation of our discussion. Every consumer who seeks to make use of credit to help manage his or her financial affairs is affected by this industry, whether they are aware of it or not.

Prepared Remarks of CFPB Deputy Director Steven Antonakes at The Exchequer Club

By Steve Antonakes

The Bureau does not have a safety and soundness mandate. Nevertheless, we very much care about the financial health of banks and nonbanks. As a veteran of two banking crises, I can tell you unequivocally that, in my view, consumer protection is not in conflict with safety and soundness. Consumers benefit from a healthy, competitive, and diversified financial services system through greater access to credit and competitive pricing. Ultimately, both financial and consumer compliance performance are dependent on strong management. Seldom do institutions excel in one and not the other.

CFPB Takes Action Against Mortgage Companies For Misrepresenting U.S. Government Affiliation

CFPB Sues Mortgage Lender for False Reverse Mortgage Ads; Orders Others to End Deceptive Advertising WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is taking action against three mortgage companies for misleading consumers with advertisements implying U.S. government approval of their products. The CFPB is suing reverse mortgage lender All Financial Services, seeking […]

Prepared Remarks of CFPB Director Richard Cordray at the National Credit Union Administration Webinar

By Richard Cordray

We have incorporated into our mortgage rules some special provisions that provide smaller creditors like most credit unions with different treatment from larger financial institutions, including the large banks. Yet we have not stopped thinking about the challenges that smaller creditors face as they continue their traditions of lending flexibly but responsibly, which has been a key to their support for many consumers, especially in smaller communities around the country.

CFPB Takes Action Against NewDay Financial for Deceptive Mortgage Advertising and Kickbacks

Lender to Pay $2 Million Civil Penalty for Illegal Conduct WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action against NewDay Financial, LLC for deceptive mortgage advertising and kickbacks. NewDay deceived consumers about a veterans’ organization’s endorsement of NewDay products and participated in a scheme to pay kickbacks for customer referrals. NewDay […]