CFPB Issues Rules to Strengthen Protections for High-Cost Mortgages
In addition to strengthening the protections for high-cost mortgages, the Bureau today is implementing a requirement of the Dodd-Frank Act that lenders...
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Prepared Remarks of Richard Cordray at the Ability-to-Repay Rule Field Hearing
Our goal with the Ability-to-Repay rule is to make sure that people who work hard to buy their own home can be assured of not only greater consumer...
CFPB Announces Increase in Home Mortgage Disclosure Act Asset-Size Exemption Threshold
Based on the adjustments announced today, the asset-size exemption for banks, savings associations, and credit unions will increase to $42 million. As a...
CFPB Proposes Revisions to Rule Protecting Consumers Sending Money Internationally
Today's proposal builds on a final rule on international money transfers that was published by the Bureau on February 7, 2012, and later supplemented on...
CFPB and State Partners Obtain Refunds for Consumers Charged Illegal Debt-Relief Fees
A Bureau investigation found evidence that the defendant, Payday Loan Debt Solution, Inc. (PLDS), routinely charged consumers upfront fees prior to settling...
CFPB Launches Public Inquiry on the Impact of the CARD Act
The CFPB wants to know how the CARD Act has affected the daily lives of consumers and the behavior of industry.
Written Testimony of Corey Stone before the Senate Financial Institutions and Consumer Protection Subcommittee
The industry is critical in our economy. It promotes access to credit that consumers can afford to repay. Without credit reporting, many consumers likely...
CFPB Releases Exam Procedures for Student Loans
The Student Lending Examination Procedures are an extension of the CFPB's General Supervision and Examination Manual and will be used as a field guide by...
CFPB Proposes to Allow Companies to Run Trial Disclosure Programs
As part of its Project Catalyst initiative, and in line with its statutory authority, the Bureau's goal is to encourage banks, credit unions, and other...
CFPB Proposes Allowing Companies to Run Trial Disclosure Programs
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, authorized the CFPB to facilitate innovation and to approve trial...
CFPB Report Details How the Nation’s Largest Credit Bureaus Manage Consumer Data
Among the key takeaways in the report, which is one of the most comprehensive studies of credit reporting to date, are that credit card history dominates...
Prepared Remarks by Richard Cordray on a Credit Reporting White Paper Press Call
The report highlights the basic systems the credit reporting companies use to collect, organize, and maintain consumer credit information. It is based on...
CFPB Halts Alleged Nationwide Mortgage Loan Modification Scams
In total, these operations took in more than $10 million by charging consumers for services that falsely promised to prevent foreclosures or renegotiate...
Consumer Financial Protection Bureau and Justice Department pledge to work together to protect consumers from credit discrimination
"Today's agreement is a critical step to better protecting consumers from illegal and discriminatory lending practices. We look forward to continuing our...
Prepared Remarks by Richard Cordray at a Press Conference with Mayor Rahm Emanuel
Chicago is the first city in the country to agree to share information directly with us, the new CFPB, about enforcing the...
Consumer Financial Protection Bureau issues warning to nationwide specialty consumer reporting agencies
"Today, the CFPB is reminding these companies that they must follow the law and provide consumers with easy access to their free annual report. If we have...
Agencies Announce Increases in Dollar Thresholds in Regulation Z and M for Exempt Consumer Credit and Lease Transactions
Based on the adjustments announced today, the protections of the Truth in Lending Act and the Consumer Leasing Act generally will apply to consumer credit...
Consumer Financial Protection Bureau Warns Companies Against Misleading Consumers with False Mortgage Advertisements
Today's actions stem from a joint "sweep," a review conducted by the CFPB and the FTC of about 800 randomly selected mortgage-related ads across the...
CFPB Extends Effective Date for New Mortgage Disclosures
The Dodd-Frank Act required that the CFPB integrate certain disclosures from the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act...
Written Testimony of Hubert H. “Skip” Humphrey III Before the United States Senate Special Committee on Aging
Our Office's statutory mandate is to help provide consumers aged 62 and over with the tools they need to protect themselves from financial abuse and to make...
CFPB Launches Project Catalyst to Spur Consumer-Friendly Innovation
The Bureau views this project as an important means of fulfilling its mandate under the Dodd-Frank Wall Street Reform and Consumer Protection Act to give...
Prepared Remarks by Richard Cordray on Project Catalyst: Stimulating Innovation in Financial Products and Services
We believe that good, consumer-friendly innovation holds great potential for achieving our mission of making the consumer finance market work again for...
Federal Housing Finance Agency and Consumer Financial Protection Bureau to Partner on Development of National Mortgage Database
The database will primarily be used to support the agencies' policymaking and research efforts and to help regulators better understand emerging mortgage...
CFPB Report Highlights Problems in Market Discovered Through Supervisory Actions
"This report underscores our work to address practices that are risky to consumers, as well as our continued commitment to making sure that institutions are...
Prepared Remarks by Richard Cordray at the National Consumer Law Center Conference
The marketplace can be a hostile place for those who are struggling to stay afloat, who may often pay higher prices for consumer goods, including financial...