Remarks by Kent Markus in an American Express Enforcement Action Press Phone Call
As you have heard, today's CFPB enforcement actions involve violations at three American Express entities and will return an estimated $85 million to...
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CFPB Orders American Express to Pay $85 Million Refund to Consumers Harmed by Illegal Credit Card Practices
This action is the result of a multi-part federal investigation which found that at every stage of the consumer experience, from marketing to enrollment to...
Prepared Remarks by Richard Cordray at the Inaugural Consumer Advisory Board Meeting
These 25 experts – drawn from outside the federal government, from around the United States, and from varying backgrounds – will provide advice to me and to...
Consumer Financial Protection Bureau Study Finds Credit Scores Used by Consumers and Lenders Can Differ
The study found that about one out of five consumers would likely receive a meaningfully different score than would a lender.
Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing
The joint investigation concerned deceptive telemarketing and sales tactics used by Discover to mislead consumers into paying for various credit card...
Prepared Remarks by Richard Cordray on the Press Call on FDIC and CFPB Joint Enforcement Action
Today I am pleased to announce that the Federal Deposit Insurance Corporation and the Bureau are putting $200 million back into the pockets of more than 3.5...
Prepared Remarks by Director Richard Cordray at the Congressional Black Caucus Foundation
So from our inception just over a year ago, we have worked to build diversity and inclusion into the fabric of our agency, having grown rapidly to nearly...
Prepared Remarks by Richard Cordray at the Corporation for Enterprise Development Conference
In recent years, we have seen household wealth shrink by trillions of dollars and incomes decline. As we continue to dig out from the crisis, the Census...
Written Testimony of Richard Cordray Before the U.S. House of Representatives Committee on Financial Services
Through our regulatory tools, we have proposed smarter rules that will help fix the broken mortgage market with common-sense solutions. We are writing rules...
Federal Financial Institutions Examination Council Announces Availability of 2011 Data on Mortgage Lending
The HMDA data made available today cover 2011 lending activity — applications, originations, purchases and sales of loans, denials, and other actions...
Written Testimony of Richard Cordray Before the United States Senate Committee on Banking, Housing, and Urban Affairs
As the report shows, we have been using all of the tools at our disposal to help protect consumers across this country. We pledge to continue our work to...
CFPB Announces Consumer Advisory Board Members
The newly appointed board members include experts in consumer protection, financial services, community development, fair lending, civil rights, and...
CFPB Releases Exam Procedures for Consumer Reporting Market
The examination process will be an ongoing process of pre-examination scoping and review of information, data analysis, onsite examinations, and regular...
CFPB Announces Senior Personnel Changes
Among those named are: Acting Assistant Director for Regulations; Senior Counsel in the Office of the Director; Deputy General Counsel; and Staff Director...
Remarks by Rohit Chopra to the Congressional Forum on Student Loans
For millions of Americans, student loans have opened doors to a college degree — offering new opportunities to create a better, more secure life. But...
CFPB Proposes Rules to Bring Greater Accountability to Mortgage Market
These rules, which the CFPB is seeking comment on and will finalize by January 2013, would make it easier for consumers to understand mortgage costs and...
Consumer Financial Protection Bureau Seeks Input on Gift Card Laws
Today the Bureau announced that it is considering two requests for decisions on whether certain provisions of unclaimed property laws in Maine and Tennessee...
Agencies Issue Proposed Rule on Appraisals for Higher-Risk Mortgages
For higher-risk mortgage loans, the proposed rule would require creditors to use a licensed or certified appraiser who prepares a written report based on a...
CFPB Proposes Rule to Improve Consumer Access to Appraisal Reports
Under the proposed rule, creditors could still charge reasonable fees associated with conducting appraisals and home value estimates; however, the rule...
CFPB Proposes Rules to Protect Mortgage Borrowers
"These proposed rules would offer consumers basic protections and put the Ôservice' back into mortgage servicing. The goal is to prevent mortgage servicers...
Prepared Remarks by Richard Cordray in a Mortgage Servicing Proposed Rules Press Call
But the major failures in this industry demonstrate that all servicers need to meet basic standards of good customer service. So today we are announcing...
Consumer advisory: Accessing your scholarships and student loan funds
The Consumer Financial Protection Bureau is issuing a consumer advisory today to all students expecting to receive scholarship and student loan proceeds onto – what appears to be – a school-endorsed debit card.
CFPB Makes International Money Transfers Easier for Certain Financial Institutions
The rule implements new protections under the Dodd-Frank Wall Street Reform and Consumer Protection Act that require remittance transfer providers to...