CFPB Releases Exam Procedures for New Mortgage Rules
The exam procedures offer financial institutions and mortgage companies valuable guidance on what the CFPB will be looking for as the rules become...
Newsroom archive
CFPB Finalizes Amendments to Ability-to-Repay Rule
Today, the Bureau finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB's Ability-to-Repay rule for...
The CFPB Before the House Committee on Financial Services
Thank you Chairman Capito, Ranking Member Meeks, and members of the Subcommittee for this opportunity to testify about the Bureau's...
The CFPB Takes Action Against Real Estate Kickbacks
The Bureau today ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgage origination...
Director Richard Cordray at the National Association of Realtors
Over time, we have come to a fuller understanding of how rampant underwriting deficiencies eventually brought about the credit crunch, the financial...
Corey Stone at the Senate Commerce Subcommittee of Consumer Protection, Product Safety, and Insurance
Credit reporting plays a critical role in consumers' financial lives. Credit reports on consumers' financial history and behavior can determine their...
Remarks of Deputy Director Steve Antonakes at the GMU Attorneys General Education Program
As a veteran of two banking crises, I can tell you unequivocally that, in my view, consumer protection is not in conflict with safety and soundness...
Prepared Remarks of Steve Antonakes at the American Bankers Association
Since our inception, the Bureau has enjoyed a productive working relationship with the American Bankers Association and its state member affiliates which I...
Prepared Remarks of Richard Cordray at the Federal Reserve Bank of Chicago VISA, Inc. Financial Literacy and Education Summit
We must start with the importance of fostering broader recognition that educational and informational support in matters of personal finance are essential...
The CFPB Takes Action Against Mortgage Insurers to End Kickbacks to Lenders
The CFPB filed complaints and proposed consent orders against four national mortgage insurance companies in order to stop these practices, which have been...
Press Call on Enforcement Action Against Mortgage Insurers to End Kickbacks to Lenders
Based on our investigation, we believe that the exertion of this pressure led these mortgage insurance companies to funnel many millions of dollars to...
Prepared Remarks of Director Richard Cordray at the National Community Reinvestment Coalition Annual Conference
Because of what you do every day – fighting to improve the lives of the nation’s most vulnerable and underserved consumers – you are my personal heroes and you set an important example for everyone at the Consumer Financial Protection Bureau.
Prepared Remarks of Richard Cordray Before Independent Community Bankers of America
We have done good work together, and we have much more good work ahead of us. And so I want to start by thanking all of you for your help and your...
Remarks of CFPB Acting Deputy Director Steve Antonakes
The Consumer Bankers Association and the Bureau have enjoyed a cooperative working relationship since the Bureau's inception which I believe has benefited...
Director Richard Cordray Before the Senate Committee on Banking, Housing, and Urban Affairs
Chairman Johnson, Ranking Member Crapo, and members of the Committee: I am honored to be here once again as the nominee to serve as the Director of the CFPB.
Prepared Remarks of Richard Cordray at a Meeting of the Credit Union National Association
For two years now, the Bureau has enjoyed a relationship with the credit unions based on mutual respect and a common understanding of who it is we serve:...
Prepared Remarks of Richard Cordray at a Meeting of the National Association of Attorneys General
Today, we can talk about the work we have been doing – including work we have done together – to achieve those goals and we can talk about what lies ahead...
Prepared Remarks by Richard Cordray at a Consumer Advisory Board meeting
Since we first became an independent agency, the Consumer Bureau has been focused on the financial issues that are common to the everyday lives of most...
CFPB Lays Out Implementation Plan for New Mortgage Rules
Both consumers and industry will win when the new rules are understood, applied, and carried out evenly and effectively. Mortgage borrowers, who have dealt...
Written Testimony of Director Richard Cordray Before the Senate Committee on Banking, Housing, and Urban Affairs
Congress created the Bureau in the wake of the greatest financial crisis since the Great Depression. Our mission is to make consumer financial markets work...
Consumer Financial Protection Bureau Warns Mortgage Servicers About Legal Protections for Consumers When Transferring Loans
When handing over the processing of loans, mortgage servicers should not lose paperwork, lose track of a homeowner's loss mitigation plans, or hinder a...
CFPB Adopts Rule to Improve Consumer Access to Appraisal Reports
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires that lenders give consumers a copy of each appraisal or other estimate free of charge...
Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage Loans
For higher-priced mortgage loans, the rule requires creditors to use a licensed or certified appraiser who prepares a written appraisal report based on a...
CFPB Issuing Rules to Prevent Loan Originators from Steering Consumers into Risky Mortgages
The rules ban certain incentives that loan originators had to sell unsafe loans to consumers in the run-up to the financial crisis.
Prepared Remarks of Richard Cordray on a Mortgage Policy Press Call
These rules set qualification standards for different types of loan originators. The rules require them to meet certain character and fitness requirements...
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