Financially Empowering Stay-at-Home Partners
Our proposal would add accessible income as a way to allow spouses and partners not working outside the home to qualify for credit and build their own...
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Debt Déjà Vu for Students
Financial institutions expect borrowers to hold up their end of the bargain when it comes to mortgages and student loans. Shouldn’t we expect the same of them?
Prepared Remarks by Richard Cordray at the Public Field Hearing on Debt Collection Practices
As we continue to emerge from the devastating fiscal crisis of 2007-2008, we now find that debt collection is a central issue of our times. Currently, about...
CFPB to Oversee Debt Collectors
Today, the Consumer Bureau is issuing a new regulation to expand our supervision program to oversee these credit reporting companies. The authority to...
CFPB Now Taking Complaints on Credit Reporting
Consumer reporting agencies, which include what are popularly called credit bureaus or credit reporting companies, are private businesses that track a...
CFPB Report Finds Servicemembers Face Hurdles in Accessing Student Loan Benefits
The hurdles they describe range from not being able to get the information they need, to being met with roadblocks when they do try to pursue their benefits.
CFPB Proposes Making it Easier for Stay-at-Home Spouses and Partners to Get Credit Cards
Today's proposal would allow a stay-at-home spouse or partner to rely on shared income from his or her spouse or partner when applying for a credit card...
Prepared Remarks by Richard Cordray in a Live Session on Requirements for Remittance Transfer Providers
This guide seeks to present the rule and its requirements in an easy-to-read document to assist banks and non-banks alike.
Consumer Financial Protection Bureau Report Finds Private Student Loan Borrowers Face Roadblocks to Repayment
According to the report, private student loan borrowers say they are sometimes surprised by the terms and conditions of their loans, they are given the...
FFIEC Statement on the Impact of Drought Conditions on Financial Institutions
The Federal Financial Institutions Examination Council today encouraged financial institutions to work constructively with borrowers affected by drought...
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...
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.
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...
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 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...