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Category: Press release |
Published

Consumer Financial Protection Bureau Launches Inquiry on Campus Financial Products

To better understand the market, the CFPB is publishing today a Notice and Request for Information on the topic of campus financial products. Campus financial products include student identification cards that double as debit cards, cards used to access scholarships and student loans, and school-affiliated bank accounts.

Category: Press release |
Published

CFPB Proposes Revisions to Rule Protecting Consumers Sending Money Internationally

Today’s proposal builds on a final rule on international money transfers that was published by the Bureau on February 7, 2012, and later supplemented on August 20, 2012. The final rule creates a comprehensive consumer protection regime for remittance transfers sent by consumers in the United States to individuals and businesses in foreign countries.

Category: Speech |
Published

Prepared Remarks by Richard Cordray on the Press Call on FDIC and CFPB Joint Enforcement Action

Today I am pleased to announce that the Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau are putting $200 million back into the pockets of more than 3.5 million American consumers who were deceived and misled into buying Discover’s credit card add-on products.

Category: Press release |
Published

Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing

The joint investigation concerned deceptive telemarketing and sales tactics used by Discover to mislead consumers into paying for various credit card “add-on products” – payment protection, credit score tracking, identity theft protection, and wallet protection.

Category: Press release |
Published

CFPB Releases Report Showcasing 2012 Highlights

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, including regulation, supervision, enforcement, market research, financial education, and the authority to deal directly with consumer complaints regarding consumer financial products and services.

Category: Press release |
Published

CFPB to Supervise Credit Reporting

The Consumer Financial Protection Bureau (CFPB) adopted a rule today to begin supervising larger consumer reporting agencies, which include what are popularly called credit bureaus or credit reporting companies. This is the first time these companies will be supervised at the federal level.