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Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Literacy and Education Commission Meeting

Thank you and I am glad the Commission is focusing on post-secondary education and financial inclusion, each of which affects the financial well-being of millions of Americans. Today I will talk about some of the ways the Consumer Bureau is working to help young people and their families make more informed decisions about paying for […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Literacy and Education Commission Meeting

Thank you. It is really helpful for us to spend some time at this meeting talking about long-term savings and investing. We all know these are key building blocks for planning and securing our futures. Today I want to highlight some of the ways the Consumer Bureau and our colleagues on the Commission are working […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the American Bankers Association Annual Convention

It is a pleasure to be back at the American Bankers Association. Before I begin, I would like to take a moment to congratulate Governor Keating for his dedication to the financial services industry, and for his long and distinguished record of public service. During my time at the Consumer Bureau, it has been my […]

Category: Press release |
Published

Consumer Financial Protection Bureau Releases Financial Education Curriculum Review Tool

Resource Will Help Guide Educators Looking to Select Appropriate Financial Education Material for Students WASHINGTON, D.C – Today the Consumer Financial Protection Bureau (CFPB) is releasing a tool that educators can use when selecting financial education curriculum for students. The curriculum review tool will help educators identify effective and unbiased material to increase the financial […]

Category: Speech |
Published

Statement by CFPB Director Richard Cordray on GAO Workplace Financial Literacy Report

WASHINGTON, D.C. — This week, the GAO released a report on financial literacy in the workplace, which summarized a forum of employers, federal government agencies, and academic researchers who discussed the role of employers in improving employees’ financial well-being. Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement: “There is a natural […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the ROADS to Financial Independence Launch

Thank you all for joining us today as we announce the launch of our ROADS to Financial Independence initiative. A large part of our work at the Consumer Financial Protection Bureau involves empowering consumers to take control of their financial lives. This first-of-its-kind initiative aims to improve the financial well-being and economic security of individuals […]

Category: Press release |
Published

CFPB Launches Financial Well-Being Initiative Targeted To People With Disabilities

ROADS to Financial Independence Initiative Will Pilot in Six Communities Nationwide WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) is announcing the launch of the Reach Outcomes. Achieve Dreams. Succeed. (ROADS) to Financial Independence initiative, which is aimed at improving the financial well-being and economic security of individuals with disabilities. The initiative, which […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Literacy and Education Commission Meeting

Let me thank everyone here today for your efforts to bring financial literacy to consumers. The work our agencies do to ensure consumers can become more financially capable and confident is not always glamorous, but it is vitally important. Today I want to describe some of the work the Consumer Financial Protection Bureau is doing […]

Category: Press release |
Published

CFPB Launches Financial Coaching Initiative

Program Targets Transitioning Veterans and Economically Vulnerable Consumers WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) is launching its Financial Coaching Initiative, targeting recently-transitioned veterans and economically vulnerable consumers to help them with their financial goals. The program places 60 certified financial coaches at organizations around the country to provide individualized educational services. […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Coaching Launch

Thank you for joining us today to announce the launch of our Financial Coaching Initiative. The Consumer Financial Protection Bureau is offering coaching support to veterans and economically vulnerable consumers during critical times of transition: veterans when they are taking off the uniform and becoming civilians; and economically vulnerable consumers as they are looking for […]

Category: Testimony |
Published

Written Testimony of David Silberman Before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit

Chairman Neugebauer, Ranking Member Clay, and Members of the Subcommittee, thank you for the opportunity to testify today about the Consumer Financial Protection Bureau’s (Bureau) work to strengthen our financial system so that it better serves consumers, responsible businesses, and our economy as a whole. My name is David Silberman and I am the Associate […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Jump$tart Coalition Awards

It is encouraging to be here with so many people who share similar goals and ideals for our young consumers. All of us in this room are bound together by a common thread. That thread is the important mission of establishing a financial marketplace that is responsible and sustainable for individual consumers. We are working […]

Category: Op-ed |
Published

Working to advance financial education in schools

Crossposted from councilforeconed.org. This opinion editorial originally ran on April 22, 2015 online. As we observe National Financial Literacy Month, let us all continue our efforts to ensure children and youth develop the skills and habits that will help them to make better financial decisions as they become adults. There is not a single good […]

Category: Press release |
Published

CFPB Launches Nationwide Effort to Advance Financial Education in Schools

CFPB Publishes Resource Guide for Policymakers WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau announced that it is launching a nationwide effort to advance financial education in schools. The Bureau is publishing “Advancing K-12 Financial Education: A Guide for Policymakers,” a resource guide which contains strategies for furthering the development and implementation of financial […]

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Literacy and Education Commission Meeting

Whether lifeguarding at the local pool or mowing lawns for the city, summer jobs are often a young person’s first small taste of financial freedom and greater responsibility. We made an effort to use this period when young people are receiving their first paychecks to reach them with valuable financial messages. We believe that if we can help instill good saving habits at this early stage, we can help young people lay the proper groundwork for their financial futures. So how can we encourage more youth to start saving?

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Services Roundtable Event on Financial Education

Today we are pleased to announce that the Consumer Bureau and the Financial Services Roundtable are joining together to promote effective financial education across the country. This joint initiative provides an opportunity to explore ways we can work together to advance a vision for stronger and more capable consumers. We have identified three areas, in particular, where we can focus our mutual efforts.

Category: Op-ed |
Published

What we really need to be better off financially

Crossposted from CNN.com. This opinion editorial was posted on January 27, 2014 online. We are facing a financial education crisis in this country. The gap between the complex financial world and our ability to navigate it is growing wider. Too many financial lessons are learned through trial and error, where it is costly to recover from […]

Category: Press release |
Published

Consumer Financial Protection Bureau Announces Project Catalyst Research Pilot On Consumer Saving

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) announced a Project Catalyst research pilot to analyze the effectiveness of certain practices designed to encourage positive saving habits. The research will focus on saving behavior among low- and moderate-income prepaid card users who often do not have access to traditional savings accounts and who may face unique challenges building regular saving habits.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Columbus Metropolitan Library

Today we are here to highlight the partnerships that the CFPB is building with libraries around the country to promote accessible financial education information for consumers. We are linking arms with library systems literally from coast to coast – from Brooklyn to San Francisco – and as part of this initiative, the Columbus Metropolitan Library system stands out as a splendid example of the hopes we have for libraries nationwide.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Bank On 2.0 Conference

Bad products can upend whole neighborhoods as well as individual households. You can tell me all about the ravages of the foreclosure crisis, where vacant properties became not only eyesores but also magnets for drugs and crime. Residents saw their property values decline and parents worried about their children’s safety. As often seems to happen, cities bore the brunt of the damage and most of the bottom-line costs of problems created by others.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the Financial Literacy and Education Commission Meeting

People cannot properly educate their children on financial wellness without the proper tools. With that in mind, the Bureau’s Office for Financial Education, in collaboration with the Federal Deposit Insurance Corporation, has created an online resource for parents looking to improve their children’s financial capabilities.

Category: Speech |
Published

Prepared Remarks of CFPB Director Richard Cordray at the President’s Advisory Council

Good morning! I want to start by asking you all to welcome the newest member of my senior team, Janneke Ratcliffe. Janneke joined the Consumer Bureau on Monday as an Assistant Director in charge of our Office of Financial Education. I know she will be working closely with all of you the on Council, and I encourage you to take the opportunity to get to know her better.