Richard Cordray
WASHINGTON, DC - MARCH 12: Richard Cordray, nominee for director of the Consumer Financial Protection Bureau, testifies at a confirmation hearing before the Senate Committee on Banking, Housing and Urban Affairs on March 12, 2013 in Washington, DC. Cordray testified that he doesn't see a 'one-size-fits-all solution' to financial challenges and stressed the importance of transparency in the bureau's work.
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Quotes
This makes it very difficult for consumers to understand, anticipate, and avoid costs
What is marketed as overdraft protection can, in some instances, put consumers at greater risk of harm
Consumers need to anticipate and avoid unnecessary fees on their checking accounts ... But we are concerned that some overdraft practices may increase consumer costs beyond reasonable expectations.More quotes »
Around the web
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Why consumers pay when Washington cracks down on bank fees
FORTUNE – By solving one problem, U.S. financial regulators may have unknowingly created others they may need to tackle. On Tuesday, a government agency tapped to be the voice of consumers criticized U.S. banks for a range of practices, from confusing ru from CNN/Money Read more »
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Democracy on trial in Senate
With battles ahead over President Barack Obama’s choices for secretary of labor, Environmental Protection Agency administrator, Consumer Financial Protection Bureau director and the National Labor Relations Board — and with fights over the nation’s secon from The Politico Read more »
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Consumer protection bureau is under attack, but working
Senate has delayed confirmation of agency head Richard Cordray for more than a yearA new rule will require lenders to ensure that prospective borrowers can afford mortgage paymentsThe agency offers electronic access to some of consumers' most common fina from USA Today Read more »
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Kickbacks alleged to be common at Fannie Mae
Before dawn one hazy March day in L.A., Armando Granillo pulled his SUV into a Starbucks near MacArthur Park, where he planned to pick up an envelope full of cash from an Arizona real estate broker, federal investigators say. Granillo, a foreclosure spec from The Bellingham Herald Read more »
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Portman Tries to Find Way to Confirm Cordray
Republican Sen. Rob Portman is leading talks to find a way to confirm Richard Cordray as head of the Consumer Financial Protection Bureau, in a bid to avoid Democrat threats to block filibusters on nominations. Cordray's appointment has been a lightning from NewsMax Read more »
