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Category: Speech |
Published

Deputy Director Johnson's Speech at CFPB Symposium on Behavioral Economics

Good afternoon. Thank you all for coming today. Today’s symposium is part of a broader effort on the part of the Bureau to engage experts in various fields on legal and policy issues. An important motivation for the symposia series is to give these legal and policy issues a fresh look, and that is precisely what we are doing and will do.

Category: Speech |
Published

Director Kraninger’s Speech at Innovation Policies Launch Event

The Bureau is also tasked with the mission of facilitating innovation and access to financial products and services for consumers. To achieve this portion of our mission to protect consumers, the Bureau has been updating our innovation policies and engaging with a variety of stakeholders, as well as collaborating with other federal, state, and global regulators on these issues. 

Category: Speech |
Published

Kathleen L. Kraninger's Speech at the Exchequer Club

Thank you for that introduction, and thanks for having me. I’m delighted to be here to spend time with such a distinguished group of experts and leaders in financial and economic policy.

Category: Speech |
Published

Consumer Protection and Financial Inclusion

Thank you very much for the invitation to be here with you today. I understand that today’s summit is the first event as part of Cato’s new “Initiative for Financial Inclusion.” Cato has been recognized for decades as a vanguard of the liberty movement, and I am grateful that your scholars, especially Todd and Diego, are focused on this vital issue. 

Category: Speech |
Published

Kathleen L. Kraninger's Speech at the Debt Collection Town Hall

Thank you all for coming. I’m delighted to be at my first CFPB town hall. Philadelphia has always been a special place to me. With Independence Hall as the foundation, this city always reminds me of the importance of democracy and public service.  

Category: Speech |
Published

Speech at the Bipartisan Policy Center By Kathleen L. Kraninger, Director, Consumer Financial Protection Bureau

Thank you to our hosts for the invitation, and to all of you for coming today. I’m particularly honored to be at a forum focused on bringing people together from across the political spectrum to forge commonsense solutions for the pressing issues facing our Nation.

Category: Speech |
Published

Thoughts on the Future of Financial Services Regulation in the U.S.

Thank you, Todd, for the kind introduction. And thank you to the staff of the Law and Economics Center for the invitation to speak today. I am honored to participate in an event organized by an institution recognized as having a rich and consequential intellectual tradition. I am also grateful to Chris Mufarrige for his invaluable assistance in helping prepare my remarks today.

Category: Speech |
Published

Toward a 21st century approach to consumer protection

Good morning. Thank you Ruth for the introduction and for inviting the Bureau to be a part of this year’s Consumer Empowerment Conference. Consumer Action has graciously invited Bureau employees to speak at this event in years past, and I am honored to continue this tradition. And I am especially happy to return to my roots here in the Midwest.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Consumer Advisory Board Meeting

Good morning. I would like to thank the Tampa community for hosting us so graciously and all of you for being here today. Since we established the Consumer Advisory Board (or CAB) five years ago, we have made sure that its membership spans the nation. We also make it a point to travel outside Washington, D.C. to learn more about consumers in different parts of the country. Yesterday we learned about this city’s history and visited a retirement community to hear more about the particular challenges facing constituencies such as older Americans.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray on the Payday Rule Press Call

Thank you for joining us. After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans. The rule is guided by the basic principle of requiring lenders to determine upfront whether people can afford to repay their loans. 

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Ohio Land Bank Conference

For more than five years now, I have had the honor to serve our country as the first director of the new U.S. Consumer Financial Protection Bureau. In that time, we have built a brand-new federal agency from scratch. And we have sent a strong message to the banks and large financial companies that in a frank and fair way we are pushing them to clean up their act and put their customers first.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray on the Overdraft Press Call

Thank you for joining us. In our fast-moving modern economy, it is increasingly common for consumers to use debit cards the way they used to use cash. They also write checks and arrange for money to be taken out of their account. This makes it harder to keep track of their checking account balances from day to day, even if they are diligent about checking their balances online or by phone. Consumers living on the edge can find themselves racking up numerous overdraft charges.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the AAFCS Conference

The Consumer Financial Protection Bureau opened its doors less than six years ago. Our mission is to stand on the side of consumers and ensure they are treated fairly in the financial marketplace. Through fair rules, consistent oversight, appropriate law enforcement, and broad-based consumer engagement, we are working to restore trust and confidence in the markets for household financial products and services.