CFPB Releases New Mortgage Rule Resources for Consumers
Today the Bureau released additional resources for consumers as part of its campaign to educate the public about the new protections provided by the...
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CFPB Announces Increase in Higher-Priced Mortgage Loans Escrow Account Asset-Size Threshold
The Bureau today issued a final rule adjusting the asset-size threshold for certain creditors to qualify for an exemption from the requirement to establish...
CFPB Announces Increase in Home Mortgage Disclosure Act Asset-Size Exemption Threshold
The Bureau today issued a final rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C...
CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing
Today, the Bureau and the Department of Justice (DOJ) filed a joint complaint against National City Bank for charging higher prices on mortgage loans to...
CFPB Orders American Express to Pay $59.5 Million for Illegal Credit Card Practices
The Bureau today ordered American Express to refund an estimated $59.5 million to more than 335,000 consumers for illegal credit card practices. These...
Prepared Remarks of Director Richard Cordray on the Ally Enforcement Action Press Call
Thank you all for joining us. Today we are announcing that the Consumer Bureau is taking its first enforcement action against discriminatory auto lending...
CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing
Ally to Pay Additional $18 Million in Civil Penalties for Harming More Than 235,000 Minority Borrowers.
Prepared Remarks of CFPB Director Richard Cordray on the Ocwen Enforcement Action Press Call
Today the Bureau, authorities in 49 states, and the District of Columbia are filing a proposed court order requiring the country's largest nonbank mortgage...
CFPB, State Authorities Order Ocwen to Provide $2 Billion in Relief to Homeowners for Servicing Wrongs
Largest Nonbank Servicer Will Also Refund $125 Million to Foreclosure Victims and Adhere to Significant New Homeowner Protections Today, the Bureau...
Federal Financial Regulators Extend Comment Period for Proposed Policy Statement on Assessing Diversity Policies and Practices of Regulated Entities
Six federal financial regulatory agencies announced today that they are extending the comment period for their proposed policy statement for assessing...
CFPB Launches Nationwide Education Campaign About New Mortgage Rules
Materials Offer Consumers Tips on Taking Advantage of New Protections Today, the Bureau launched a campaign to educate the public about the new protections...
CFPB Calls on Financial Institutions to Publicly Disclose Campus Financial Agreements
Bureau Finds a Continued Decline in College Credit Card Agreements Today, the Bureau called on financial institutions to publicly disclose agreements with...
Prepared Remarks of CFPB Director Richard Cordray on the CashCall Enforcement Action Press Call
Today the Bureau is filing its first online lending lawsuit. We believe that CashCall, WS Funding, and Delbert Services, along with J. Paul Reddam, who owns...
CFPB Sues CashCall for Illegal Online Loan Servicing
Today the Bureau took its first action against an online loan servicer, CashCall Inc., its owner, its subsidiary, and its affiliate, for collecting money...
Agencies Issue Final Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements
Six federal financial regulatory agencies today issued a final rule that creates exemptions from certain appraisal requirements for a subset of...
CFPB Finds Few Consumers File Arbitration Cases
Today, the Bureau released preliminary research on the use of arbitration clauses in connection with consumer financial products and services. The research...
Prepared Remarks of Director Richard Cordray at the Field Hearing on Arbitration
Thank you for joining us here today in Dallas. Every month or so we try to hold an event outside of Washington, D.C., with the purpose of learning...
Prepared Remarks of CFPB Director Richard Cordray on the CareCredit Enforcement Action Press Call
Today the Bureau is ordering GE Capital Retail Bank and its subsidiary, CareCredit, to refund up to $34.1 million to consumers who were victims of deceptive...
CFPB Orders GE CareCredit to Refund $34.1 Million for Deceptive Health-Care Credit Card Enrollment
More than 1 Million Consumers Were Potential Victims of Misleading Practices Today the Bureau is ordering GE Capital Retail Bank and its subsidiary...
Prepared Remarks of Director Cordray at the Consumer Federation of America
The Consumer Federation of America has been one of our foremost and fiercest allies for consumers. I would like to thank everyone here for your leadership...
CFPB to Oversee Nonbank Student Loan Servicers
The Bureau issued a rule today that allows the Bureau to supervise certain nonbank student loan servicers for the first time. The rule brings new oversight...
Prepared Remarks of CFPB Director Richard Cordray on the Student Loan Servicer Supervision Rule Press Call
Thank you for joining us on this call today. John F. Kennedy once noted that economic growth requires "the maximum development of every young American's...
Director Cordray Remarks At The Clearing House Annual Conference
Prepared Remarks of Richard Cordray Director of the Bureau The Clearing House Annual Conference November 21, 2013 Thank you so much for having me here...
Director Cordray Remarks at the “Know Before You Owe” Mortgage Field Hearing
Prepared Remarks of Richard Cordray Director of the Bureau "Know Before You Owe" Mortgage Field Hearing Boston, MA November 20, 2013 The dream of having a...
Consumer Financial Protection Bureau Takes Action Against Payday Lender For Robo-Signing
Cash America to Refund up to $14 Million for Robo-Signing and Illegally Overcharging Servicemembers The Bureau today took its first enforcement action...