I’d like to talk to you today about how the CFPB is fulfilling its mission to help consumer finance markets actually work – for American families, for financial services firms, and for the economy as a whole.
Today’s hearing is focused on the Bureau’s efforts to combine the various federal disclosures that consumers receive when taking out a mortgage loan.
I’d like to talk to you about how the mission of the CFPB is to help consumer finance markets actually work – for American families, for financial services firms, for investors, and for the economy as a whole.
So mortgage reform is appropriately front and center on the CFPB’s agenda.
The mortgage market failed to make good credit decisions; it failed to take smart risks; and, maybe worst of all, it failed to clean up its own mess.
Today, I’m excited to announce another Know Before You Owe project aimed at simplifying credit card agreements so that the prices and terms are easier for consumers to understand.
I’d like to thank everyone at the CFA for your leadership and extraordinary work on consumer financial reform on behalf of ordinary Americans.
Our mission at the CFPB is to help consumer financial markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.
This is why the CFPB is assisting the Department of Education with creating a “financial aid shopping sheet” that colleges could use to improve information for students and their families.
Today, I’d like to talk about how the Consumer Financial Protection Bureau is working to make a better student loan market, and I’d like to announce an exciting initiative with the Department of Education.
