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Based on the adjustments announced today, the asset-size exemption for banks, savings associations, and credit unions will increase to $42 million. As a...
In total, these operations took in more than $10 million by charging consumers for services that falsely promised to prevent foreclosures or renegotiate...
Chicago is the first city in the country to agree to share information directly with us, the new CFPB, about enforcing the...
By
Richard Cordray
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...
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...
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...
The database will primarily be used to support the agencies' policymaking and research efforts and to help regulators better understand emerging mortgage...
"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...
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...
By
Richard Cordray
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?
By
Rohit Chopra
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...
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...
By
Richard Cordray
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...
By
Richard Cordray
The HMDA data made available today cover 2011 lending activity — applications, originations, purchases and sales of loans, denials, and other actions...
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...
By
Richard Cordray
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...
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...
Under the proposed rule, creditors could still charge reasonable fees associated with conducting appraisals and home value estimates; however, the rule...
"These proposed rules would offer consumers basic protections and put the Ôservice' back into mortgage servicing. The goal is to prevent mortgage servicers...
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...
By
Richard Cordray
Small businesses are a critical growth engine for our economy and an essential source of financial services for many consumers. For this reason, the CFPB...
By
Richard Cordray
Today's report covers the Bureau's actions from January 1, 2012 through June 30, 2012. It showcases how the Bureau has used its multiple authorities...
Over the next six months, we will be proposing and finalizing sound rules, most of them required by Congress, to address each stage of the mortgage process...
By
Richard Cordray
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...
By
Raj Date
The foreclosure crisis had a devastating impact on median wealth in this community in particular. And now you and everyone else are dealing with a dried-up...
By
Richard Cordray
