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5 May 2016, 7:46 am by WOLFGANG DEMINO
“Signing up for a credit card or opening a bank account can often mean signing away your right to take the company to court if things go wrong,” said CFPB Director Richard Cordray. [read post]
2 May 2016, 9:00 am by Dawn N. Williams
On April 28, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray sent a letter to eight financial industry trade groups stating that the agency intends to propose new amendments in late July 2016 to the rules synthesizing mortgage lending disclosures under the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA). [read post]
29 Apr 2016, 3:40 pm
“Millions of consumers needlessly fall behind on their student loan debt, despite their right under federal law to a payment they can afford,” said CFPB Director Richard Cordray. [read post]
27 Apr 2016, 3:30 am by Marx Sterbcow
CFPB Richard Cordray stated that “T3Leads steered consumers towards bad deals with lenders it didn’t vet and with no regard for how consumer’s information would be used. [read post]
27 Apr 2016, 3:30 am by Marx Sterbcow
CFPB Richard Cordray stated that “T3Leads steered consumers towards bad deals with lenders it didn’t vet and with no regard for how consumer’s information would be used. [read post]
15 Apr 2016, 3:17 pm by Steven D. Schwinn
Gordon that Consumer Financial Protection Bureau Chief Richard Cordray had authority and standing to bring an enforcement claim against Chance Gordon, a California attorney and... [read post]
   As we noted previously, CFPB Director Richard Cordray, in the Bureau’s first appellate decision, imposed a $109 million penalty on PHH for alleged RESPA violations involving improper kickbacks related to mortgage reinsurance where agreements were in place with lenders, a dramatic increase over the $6 million penalty that had been imposed by the administrative law judge at the trial level. [read post]
7 Apr 2016, 8:04 pm by Sabrina I. Pacifici
Written Testimony of CFPB Director Richard Cordray Before the Senate Committee on Banking, Housing, and Urban Affairs By Richard Cordray, April 7, 2016. [read post]
During a hearing of the House Financial Services Committee at which CFPB Director Richard Cordray testified, Representative Jeb Hensarling of Texas, the chair of the committee, presented a study commissioned by the committee showing that the CFPB pays African-American employees approximately $16,000 less than their white counterparts. [read post]
18 Mar 2016, 6:21 am by Patricia Klusmeyer
The Director of CFPB, Richard Cordray, stated in prepared remarks to the Consumer Bankers Association that CFPB’s enforcement actions such as this one are “intended as guides to all participants in the marketplace to avoid similar violations and make an immediate effort to correct any such improper practices. [read post]
17 Mar 2016, 7:26 am by Jeffrey Brown and Jodie Herrmann Lawson
  According to CFPB Director Richard Cordray, “With data breaches becoming commonplace and more consumers using these online payment systems, the risk to consumers is growing. [read post]
14 Mar 2016, 6:25 am by Kurt Lentz and Jodie Herrmann Lawson
  CFPB Director Richard Cordray mentioned in prepared remarks to the Consumer Bankers Association on March 9, 2016, that “[s]oon we will be finalizing a rule to provide basic consumer protections for prepaid accounts for the first time ever, which many consumers would be surprised to learn they lack currently. [read post]
14 Mar 2016, 6:25 am by Kurt Lentz and Jodie Herrmann Lawson
  CFPB Director Richard Cordray mentioned in prepared remarks to the Consumer Bankers Association on March 9, 2016, that “[s]oon we will be finalizing a rule to provide basic consumer protections for prepaid accounts for the first time ever, which many consumers would be surprised to learn they lack currently. [read post]
10 Mar 2016, 7:04 am by Laura Lange and Joshua Davey
In the latest public pronouncement on the Consumer Financial Protection Bureau’s (CFPB’s) intention to engage in rulemaking to ban the use of certain arbitration clauses in consumer contracts – in particular, those that would limit consumer class relief – CFPB Director Richard Cordray recently elaborated on the CFPB’s goals in a speech to the American Constitution Society. [read post]
8 Mar 2016, 10:56 am by Christopher E. Hoyme
In the CFPB press release Director Richard Cordray stated, “With data breaches becoming commonplace and more consumers using these online payment systems, the risk to consumers is growing. [read post]
7 Mar 2016, 7:02 pm by WOLFGANG DEMINO
 “When consumers shop for a loan online we want them to be informed and to understand what they are signing up for,” said CFPB Director Richard Cordray. [read post]
23 Feb 2016, 6:27 am by Mary Grob and Joshua Davey
According to CFPB Director Richard Cordray, in prepared remarks delivered in Louisville, KY, the lack of access is caused—at least in part—by overdraft fees and credit screening inaccuracies. [read post]
19 Feb 2016, 8:39 am by Alan S. Kaplinsky and Mark J. Levin
Levin At a presentation on February 18, 2016 to the American Constitution Society, CFPB Director Richard Cordray devoted most of his remarks to the subject of consumer arbitration. [read post]
The agency is aware of the concern, and last month CFPB Director Richard Cordray issued a response to the American Banker report, stating that the report was “riddled with inaccuracies about the database and how it works. [read post]
3 Feb 2016, 2:30 am by WOLFGANG DEMINO
“Consumers should not be sidelined out of the basic banking services they need because of the flaws and limitations in a murky system,” said CFPB Director Richard Cordray. [read post]