CFPB Proposes Expanded Foreclosure Protections
Today, the Bureau proposed additional measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The proposal...
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CFPB Takes First Action Against ‘Buy-Here, Pay-Here’ Auto Dealer
The Bureau today took its first action against a "buy-here, pay-here" car dealer. The dealer, DriveTime, harmed consumers by making harassing debt...
CFPB Provides Guidance to Help Lenders Avoid Discrimination Against Consumers Receiving Disability Income
Bureau Warns Lenders Against Creating Illegal Hurdles for Recipients of Social Security Disability Income Today, the Bureau is issuing a bulletin to help...
CFPB Takes Action Against Franklin Loan Corporation for Steering Consumers into Costlier Mortgages
Company to Pay $730,000 to Consumers Harmed by Illegal Bonus Program Today, the Bureau ordered a California mortgage lender, Franklin Loan Corporation, to...
Prepared Remarks of CFPB Director Richard Cordray at the Prepaid Products Field Hearing
Today, we are proposing a new rule to bring strong consumer protections to the prepaid market. Consumers need and deserve to be able to use sustainable...
CFPB Proposes Strong Federal Protections for Prepaid Products
Today the Bureau is proposing strong, new federal consumer protections for the prepaid market. The proposal would require prepaid companies to limit...
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...
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...
CFPB Report Finds Debt Collection Tops Older Consumer Complaints
Bureau Issues Consumer Advisory with Tips for Older Americans Dealing with Harassing Debt Collectors Today, the Bureau released a report highlighting debt...
FFIEC Releases Cybersecurity Assessment Observations, Recommends Participation in Financial Services Information Sharing and Analysis Center
The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, today released observations from the recent cybersecurity...
CFPB Supervision Report Highlights Risky Practices in Student Loan Servicing
Examiners Also Uncover Violations of Mortgage Servicing Laws The Bureau today issued a report highlighting illegal actions uncovered by the Bureau's...
Prepared Remarks of CFPB Director Richard Cordray at University of Michigan Law School
Our efforts reflect concern about access to credit and do not reflect a one-sided perspective to maximize consumer protection or industry deterrence at all costs. There is such a thing as doing too little, and there is such a thing as doing too much. We are aiming instead at doing justice.
CFPB Finalizes Minor Changes to Mortgage Rules to Ensure Access to Credit
The Bureau today finalized minor adjustments to its mortgage rules to ensure access to credit. The adjustments, which were proposed in April, include two...
CFPB Finalizes Rule to Promote More Effective Privacy Disclosures
The Bureau today finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. The new rule, which was...
CFPB Report Finds Distressed Private Student Loan Borrowers Driven Into Default
Today, the Bureau Student Loan Ombudsman released a report highlighting complaints by struggling private student loan borrowers who describe being driven...
CFPB Director Richard Cordray’s Prepared Lecture on Economic Rights as Civil Rights at Michigan State University
My speech today is intended as an incremental contribution to the year-long conversation on civil and human rights that Michigan State University has...
CFPB Takes Action Against M&T Bank for Deceptively Advertising Free Checking
M&T to Refund $2.9 Million to Approximately 59,000 Account Holders Who Paid Fees for Free Checking Today the Bureau took action against M&T Bank for...
Prepared Remarks of CFPB Director Richard Cordray at Forum on Access to Checking Accounts
Thank you for joining our forum to explore how consumers are affected by checking account screening policies and practices. Today we will look at how these...
FDIC and CFPB Collaborate to Develop a Spanish-Language Tool for Older Adults to Prevent Financial Exploitation
The Federal Deposit Insurance Corporation (FDIC) and CFPB today launched a Spanish-language version of Money Smart for Older...
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...
CFPB Announces Project Catalyst Research Pilot on Tax-Time Saving
Today, the Bureau announced a Project Catalyst research pilot to explore ways to encourage saving among consumers at tax time. The pilot will focus in...
CFPB Takes Action Against Mortgage Kickback Agreements
Bureau Orders Michigan Title Insurance Agency to Pay $200,000 Today, the Bureau ordered Lighthouse Title, a Michigan title insurance agency, to pay $200,000...
CFPB Finds Majority of Manufactured-Housing Borrowers Have Expensive Loans
Bureau Finds that Manufactured-Home Owners are More Likely to be Older or to Have Lower Net Worth The Bureau released a report which found that...
Prepared Remarks of CFPB Director Richard Cordray at the Society for Financial Education and Professional Development
Thank you. Over the years, financial education has become a passion that I have pursued at the local, state, and now federal levels. It is a joy and a...
Prepared Remarks of CFPB Director Richard Cordray on the Flagstar Enforcement Action Press Call
Today the Bureau is taking its first enforcement action under the Bureau's new mortgage servicing rules. We are entering an order against Michigan-based...