CFPB Clarifies State Reciprocity in Loan Originator Licensing
In a bulletin, the CFPB states that, consistent with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), a state may grant a...
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Prepared Remarks by Richard Cordray at the National Community Reinvestment Coalition
You, the National Community Reinvestment Coalition, have stepped up to preserve and expand on that foundational principle of our nation by working to...
Prepared Remarks by Richard Cordray Before Jump$tart
From my work with Jump$tart over the years, I know you to be a leader in improving financial literacy from kindergarten to college.
CFPB to Hold Financial Institutions and their Service Providers Accountable
The Bureau will take a close look at service providers' interactions with consumers. It will hold all appropriate companies accountable when legal...
CFPB Seeks Public Comment on Amendment to Credit Card Act Rule
At issue in the lawsuit is the total amount of fees that a credit card issuer may require a consumer to pay with respect to a credit card account prior to...
Prepared Remarks by Richard Cordray in Sioux Falls, South Dakota
This new tool is an interactive, online platform designed to help families decide how much to borrow for higher education.
CFPB Releases Financial Aid Comparison Shopper
The Bureau today launched the next phase of its Know Before You Owe student loan project by releasing a beta version of the Financial Aid Comparison...
Prepared Remarks by Richard Cordray at Operation HOPE
At the start of this year, nearly one in four mortgages was underwater and 4.5 million mortgages were seriously delinquent. And today, some studies estimate...
CFPB Outlines Borrower-Friendly Approach to Mortgage Servicing
"The mortgage servicing rules we are considering reflect two basic, common-sense principles – no surprises and no runarounds," said CFPB Director Richard...
Testimony of Richard Cordray before the U.S. House of Representatives
I want to thank you for this opportunity to testify on the first "Semi-Annual Report of the Bureau" detailing the Bureau's accomplishments in its first six...
Prepared Remarks by Richard Cordray before the U.S. Chamber of Commerce
And we have certain goals in common: a strong and vibrant financial sector; a highly competitive economy that works for Americans in both the short run and...
Consumer Financial Protection Bureau files amicus brief in truth in lending case
When a borrower cancels a loan on this basis, the lender must release its liens against the borrower's home, and the borrower must return the loan he or she...
CFPB Invites Consumers to Ask CFPB
"Ask CFPB gives consumers answers in plain language so they can make sound financial decisions. But today's launch is just the beginning – we will continue...
Prepared Remarks by Richard Cordray before the Consumer Bankers Association
I would like to talk to you today about how we are doing this by promoting transparency, lowering consumer risks, and ensuring a level playing field between...
Prepared Remarks by Richard Cordray at CUNA’s Governmental Affairs Conference
At the Bureau, we have been working with one of the largest credit unions in the country, the Pentagon Federal Credit Union, to pilot a prototype credit...
Prepared Remarks by Richard Cordray at the Society of American Business Editors and Writers
I deeply believe that reporters play an important role in ensuring our government operates fairly, efficiently, and honestly. This role includes a new task...
Prepared Remarks by Richard Cordray at the ICBA National Convention
I have seen firsthand how the success of community banks benefits the people who live in those communities, where the bankers themselves also live and work.
Consumer Financial Protection Bureau proposes rule for the protection of privileged information
The proposed rule is intended to provide supervised entities further assurances that providing privileged information to the Bureau will not adversely...
Prepared remarks by Richard Cordray before the National Association of Attorneys General
Making prices and risks clear. Protecting people against fraud. And standing up for consumers to make sure they are treated fairly. That is our new job.
CFPB Now Taking Private Student Loan Complaints
The CFPB will assist all borrowers experiencing problems taking out a private student loan, repaying their private student loan, or managing a student loan...
Consumer Financial Protection Bureau now taking complaints on checking accounts
Almost nine out of ten American households have at least one checking account, and many also maintain a savings account. Yet, despite the fact that they are...
Consumer Financial Protection Bureau Seeks Consumer Advisory Board Nominations
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, requires that a Consumer Advisory Board be established to advise and...
Holly Petraeus Statement on Senate Help Committee Report on Military Education Benefits
Today, the Senate Health, Education, Labor, and Pensions (HELP) Committee released data which revealed that education benefits administered by the...
Prepared Remarks by Richard Cordray at the CFPB Roundtable on Overdraft Practices
Overdrafts can provide consumers with needed access to funds, but the growing costs of overdraft practices have the capacity to inflict serious economic...
CFPB Launches Inquiry into Overdraft Practices
As part of that inquiry, the CFPB is seeking public input on a prototype "penalty fee box" – a disclosure on a consumer's checking account statement that...