Remarks by Kent Markus in an American Express Enforcement Action Press Phone Call
As you have heard, today's CFPB enforcement actions involve violations at three American Express entities and will return an estimated $85 million to...
Newsroom archive
CFPB Orders American Express to Pay $85 Million Refund to Consumers Harmed by Illegal Credit Card Practices
This action is the result of a multi-part federal investigation which found that at every stage of the consumer experience, from marketing to enrollment to...
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 Bureau are putting $200 million back into the pockets of more than 3.5...
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...
Prepared Remarks by Richard Cordray at the Corporation for Enterprise Development Conference
In recent years, we have seen household wealth shrink by trillions of dollars and incomes decline. As we continue to dig out from the crisis, the Census...
Written Testimony of Richard Cordray Before the U.S. House of Representatives Committee on Financial Services
Through our regulatory tools, we have proposed smarter rules that will help fix the broken mortgage market with common-sense solutions. We are writing rules...
Written Testimony of Richard Cordray Before the United States Senate Committee on Banking, Housing, and Urban Affairs
As the report shows, we have been using all of the tools at our disposal to help protect consumers across this country. We pledge to continue our work to...
CFPB Releases Exam Procedures for Consumer Reporting Market
The examination process will be an ongoing process of pre-examination scoping and review of information, data analysis, onsite examinations, and regular...
Consumer Financial Protection Bureau Seeks Input on Gift Card Laws
Today the Bureau announced that it is considering two requests for decisions on whether certain provisions of unclaimed property laws in Maine and Tennessee...
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...
Prepared Remarks by Richard Cordray on CFPB Enforcement Action
Today's action puts $140 million back in the pockets of two million Capital One customers who were pressured or misled into buying credit card products they...
CFPB Probe into Capital One Credit Card Marketing Results in $140 Million Consumer Refund
This action results from a CFPB examination that identified deceptive marketing tactics used by Capital One's vendors to pressure or mislead consumers into...
Remarks by Richard Cordray on the Consumer Complaint Database
One of our key tools to accomplish that task is our ability to receive and process consumer complaints, which allows us to hear directly from consumers...
CFPB Launches Consumer Complaint Database
In December, the CFPB asked the public to comment on a proposed policy of making some credit card complaint data publicly available. After considering those...
Prepared Remarks by Richard Cordray at the American Constitution Society Conference
We are the first agency ever created with the sole purpose of protecting consumers in the financial marketplace. It is no easy task, but it is crucial...
Testimony of Gail Hillebrand before the House Subcommittee on Financial Institutions and Consumer Credit
That rule implements the general ability to pay provision of the Credit CARD Act. The CARD Act addresses a series of problems that existed in the credit...
CFPB Considers Rules on Prepaid Cards
The Bureau's Advance Notice of Proposed Rulemaking seeks input on how to ensure that consumers' funds on prepaid cards are safe and that card terms and fees...
Prepared Remarks by Richard Cordray at Prepaid Cards Field Hearing
Consumers can load money onto these cards and then use them for everyday purchases, just like a debit or credit card, but without having to be attached to...
Director Cordray Remarks at the White House Financial Summit
At the Bureau, we are uniquely positioned to address these issues by helping to bridge the ever-widening gap between people's actual financial capability...
Prepared Remarks by Richard Cordray Before the 2012 Simon New York City Conference
Let me emphasize at the outset that we all have certain goals in common: a strong and vibrant financial sector; the ability to earn and maintain the...
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...
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...
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...
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...
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