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Today, in close partnership with our fellow banking regulators, we are ordering three subsidiaries of the American Express Company to put some $85 million back into the wallets of consumers. The subsidiary companies will modify various credit card practices found to be illegal, make full refunds to approximately 250,000 customers, and pay $14.1 million in [...]
Prepared Remarks by Richard Cordray Director of the Consumer Financial Protection Bureau Consumer Advisory Board Meeting St. Louis, Missouri September 27, 2012 Good morning and thank you for coming to our inaugural Consumer Advisory Board meeting. The success of the Consumer Financial Protection Bureau depends on our accessibility to the American public. So from the [...]
Today I am pleased to announce that the Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau are putting $200 million back into the pockets of more than 3.5 million American consumers who were deceived and misled into buying Discover’s credit card add-on products. The Bureau was created, in part, to put an end [...]
Thank you for inviting me today. It is an honor to be here and to continue our collaborative relationship. You have been important supporters of the Consumer Financial Protection Bureau and it is great to work with the outstanding leaders and members of the Congressional Black Caucus. So on behalf of everyone at the Bureau, [...]
Washington, D.C. – Good morning, and thank you for inviting me to be here with so many people who share similar goals and ideals for our society. The thread that ties us together is the difficult, important, and humbling mission of seeking to empower the economically vulnerable among us. At the Consumer Financial Protection Bureau, [...]
Written Testimony of Director Richard Cordray Director, Consumer Financial Protection Bureau United States House of Representatives Committee on Financial Services Washington, D.C. September 20, 2012 Chairman Bachus, Ranking Member Frank, and Members of the Committee, thank you for inviting me to testify today about the Semi-Annual Report of the Consumer Financial Protection Bureau. A little [...]
