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Category: Testimony |
Published

Written Testimony of CFPB Director Richard Cordray Before the House Committee on Financial Services

Chairman Hensarling, Ranking Member Waters, and Members of the Committee, thank you for inviting me to testify today about the fourth Semi-Annual Report of the Consumer Financial Protection Bureau. Since we opened our doors just over two years ago, the Bureau has been focused on making consumer financial markets work better for the American people, […]

Category: Testimony |
Published

Hollister K. Petraeus Before the U.S. Senate Committee on Commerce, Science & Transportation

Chairman Rockefeller, Ranking Member Thune, and distinguished Members of the Committee, I’d like to thank you for the opportunity to speak with you today concerning consumer protection for the military, particularly in the area of predatory lending to servicemembers and their families.

Category: Testimony |
Published

Written Testimony of Director Cordray Before the Senate Committee on Banking, Housing and Urban Affairs

Chairman Johnson, Ranking Member Crapo, and Members of the Committee, thank you for inviting me to testify today about the fourth Semi-Annual Report of the Consumer Financial Protection Bureau. Since we opened our doors just over two years ago, the Bureau has been focused on making consumer financial markets work better for the American people, and helping them improve their financial lives.

Category: Testimony |
Published

Director Cordray Before the House Committee on Financial Services

Chairman Hensarling, Ranking Member Waters, and Members of the Committee: thank you for inviting me to testify today about the third Semi-Annual Report of the Consumer Financial Protection Bureau.

Born out of the worst financial crisis since the Great Depression, the Consumer Financial Protection Bureau is the nation’s first federal agency whose sole focus is protecting consumers in the financial marketplace. We are dedicated to improving the lives of everyday Americans and to restoring trust in consumer financial markets. The Semi-Annual Report we are discussing today embodies our work over the last six months of 2012.

Category: Testimony |
Published

Director Cordray Before the House Committee on Financial Services

Written Testimony of Director Richard Cordray Consumer Financial Protection Bureau Before the House Committee on Financial ServicesSeptember 12, 2013Chairman Hensarling, Ranking Member Waters, and Members of the Committee: thank you for inviting me to testify today about the third Semi-Annual Report of the Consumer Financial Protection Bureau. Born out of the worst financial crisis since […]

Category: Testimony |
Published

David M. Silberman Before the Senate Special Committee on Aging

Thank you for the opportunity to provide you with an overview of the Consumer Financial Protection Bureau’s recently released white paper on payday loans and deposit advance products. This is perhaps the largest study to date on the short-term, small-dollar loan market.

Category: Testimony |
Published

Corey Stone at the Senate Commerce Subcommittee of Consumer Protection, Product Safety, and Insurance

Credit reporting plays a critical role in consumers’ financial lives. Credit reports on consumers’ financial history and behavior can determine their eligibility for credit cards, car loans, and home mortgage loans – and they often affect how much consumers pay for their loans.

Category: Testimony |
Published

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 that simplify mortgage disclosure forms and rules that make sure consumers do not receive mortgages that they do not understand or cannot afford.

Category: Testimony |
Published

Written Testimony of Richard Cordray Before the House Oversight and Government Reform Subcommittee on TARP, Financial Services, and Bailouts of Public and Private Programs

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, from application to origination to servicing to termination. Clear rules of the road will support responsible decision-making and rebuild consumer and investor confidence in the system.