Prepared Remarks of CFPB Director Richard Cordray at the Field Hearing on Student Loans

    FOR IMMEDIATE RELEASE: May 14, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 Prepared Remarks of Richard Cordray  Director of the Consumer Financial Protection Bureau Field Hearing on Student Loans Milwaukee, Wisconsin  May 14, 2015 Thank you all for joining us today in Milwaukee.  Plato once said, “The direction in which education starts a man…

CFPB Launches Public Inquiry Into Student Loan Servicing Practices

    FOR IMMEDIATE RELEASE: May 14, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU LAUNCHES PUBLIC INQUIRY INTO STUDENT LOAN SERVICING PRACTICES Bureau Seeks Information On Industry Practices That Can Create Student Debt Stress   WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) is launching a public inquiry into…

CFPB Files Suit Against Nationwide Biweekly for Luring Consumers with False Promises of Mortgage Savings

    OR IMMEDIATE RELEASE: May 11, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU FILES SUIT AGAINST NATIONWIDE BIWEEKLY FOR LURING CONSUMERS WITH FALSE PROMISES OF MORTGAGE SAVINGS Consumers Paid $49 Million in Fees for Deceptive Mortgage Payment Program   WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) filed…

CFPB and State of Maryland Take Action Against “Pay-to-Play” Mortgage Kickback Scheme

    FOR IMMEDIATE RELEASE: April 29, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU AND STATE OF MARYLAND TAKE ACTION AGAINST “PAY-TO-PLAY” MORTGAGE KICKBACK SCHEME Loan Officers and Former Title Company Executives Who Traded Cash and Marketing Services for Illegal Referrals Will Be Banned, Pay Redress and Penalties   WASHINGTON, D.C.…

CFPB Fines Regions Bank $7.5 Million for Unlawful Overdraft Practices

    FOR IMMEDIATE RELEASE: April 28, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU FINES REGIONS BANK $7.5 MILLION FOR UNLAWFUL OVERDRAFT PRACTICES Bank Refunds $49 Million in Illegal Fees to Consumers Who Did Not Opt-In to Overdraft   WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action…

CFPB and Federal Trade Commission Take Action Against Green Tree Servicing for Mistreating Borrowers Trying to Save Their Homes

    Green Tree to Pay $48 Million in Borrower Restitution and $15 Million Fine for Servicing Failures WASHINGTON, D.C.– Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) took action against Green Tree Servicing, LLC, for mistreating mortgage borrowers who were trying to save their homes from foreclosure. The mortgage…