Newsroom
Potentially discriminatory markups in auto lending may result in tens of millions of dollars in consumer harm each year, and the bulletin provides guidance to indirect auto lenders within the CFPB’s jurisdiction on how to address fair lending risk.
As a result of these rising costs, more consumers need loans in order to afford college. By the end of last year, outstanding student loan debt was more...
By
Richard Cordray
Today's proposed rule would expand that supervision to certain nonbanks. The rule would define certain nonbank student loan servicers as "larger...
We have done good work together, and we have much more good work ahead of us. And so I want to start by thanking all of you for your help and your...
By
Richard Cordray
The Consumer Bankers Association and the Bureau have enjoyed a cooperative working relationship since the Bureau's inception which I believe has benefited...
By
Steve Antonakes
Chairman Johnson, Ranking Member Crapo, and members of the Committee: I am honored to be here once again as the nominee to serve as the Director of the CFPB.
By
Richard Cordray
The Bureau is grateful for Chairman Leibowitz's dedication to protecting consumers. His stalwart leadership and commitment to teamwork have enabled a strong...
For two years now, the Bureau has enjoyed a relationship with the credit unions based on mutual respect and a common understanding of who it is we serve:...
By
Richard Cordray
Today, we can talk about the work we have been doing – including work we have done together – to achieve those goals and we can talk about what lies ahead...
By
Richard Cordray
The CFPB has found that private student loan borrowers who wish to pay their loans, but face high payments, lack alternative repayment and refinance options.
Since we first became an independent agency, the Consumer Bureau has been focused on the financial issues that are common to the everyday lives of most...
By
Richard Cordray
Both consumers and industry will win when the new rules are understood, applied, and carried out evenly and effectively. Mortgage borrowers, who have dealt...
Congress created the Bureau in the wake of the greatest financial crisis since the Great Depression. Our mission is to make consumer financial markets work...
By
Richard Cordray
When handing over the processing of loans, mortgage servicers should not lose paperwork, lose track of a homeowner's loss mitigation plans, or hinder a...
With today's pilot-program announcement, Newark residents who call 4311 with a question or complaint about consumer financial products or services will be...
As Antonakes assumes this temporary role, he will maintain responsibility for his current duties as the Associate Director for Supervision, Enforcement, and...
To better understand the market, the CFPB is publishing today a Notice and Request for Information on the topic of campus financial products. Campus...
We understand that our mission is to stand on the side of consumers – our mothers and fathers, sisters and brothers, sons and daughters – and see that...
By
Richard Cordray
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires that lenders give consumers a copy of each appraisal or other estimate free of charge...
For higher-priced mortgage loans, the rule requires creditors to use a licensed or certified appraiser who prepares a written appraisal report based on a...
The rules ban certain incentives that loan originators had to sell unsafe loans to consumers in the run-up to the financial crisis.
These rules set qualification standards for different types of loan originators. The rules require them to meet certain character and fitness requirements...
By
Richard Cordray
Today, the Consumer Bureau is announcing new mortgage servicing rules that will help all borrowers, especially those facing foreclosure. Our rules will...
By
Richard Cordray
The CFPB's mortgage servicing rules ensure that borrowers in trouble get a fair process to avoid foreclosure. Borrowers shouldn't have to worry about...
The rule also protects borrowers from risky lending practices such as "no doc" and "interest only" features that contributed to many homeowners ending up in...
