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Richard Cordray

A collection of news and information related to Richard Cordray published by this site and its partners.

Top Richard Cordray Articles

Displaying items 56-66
  • U.S. to begin regulating largest student-loan servicing firms

    U.S. to begin regulating largest student-loan servicing firms
    Students who get the runaround from companies handling their college loans soon may get help from the federal government. The Consumer Financial Protection Bureau said it will begin regulating the nation's largest student-loan servicing firms, which...
  • Bank of America to pay $772 million for illegal credit card practices

    Bank of America to pay $772 million for illegal credit card practices
    WASHINGTON -- Bank of America Corp. has agreed to refund customers $727 million and pay $45 million in fines for illegal credit card practices, according to a settlement with federal regulators announced Wednesday. The refunds will go to as many as 2....
  • Most payday loan borrowers get stuck in 'revolving door of debt'

    Most payday loan borrowers get stuck in 'revolving door of debt'
    WASHINGTON — Four out of five people who take out a short-term payday loan either roll it over or take out another one within two weeks, pushing them into a cycle of debt, according to a report to be released Tuesday by the Consumer Financial...
  • Regulator accuses ITT for-profit college chain of predatory lending

    [Updated 1:45 p.m. PST Feb. 26: This post has been updated to include a response from ITT Educational Services and to reflect the closing stock price.] In its first action against a company in the for-profit college industry, the federal Consumer...
  • Regulator urges banks to give consumers free monthly credit scores

    Regulator urges banks to give consumers free monthly credit scores
    WASHINGTON -- With few Americans checking their credit scores annually, a top financial regulator is urging banks to make the information more easily available by including it for free on monthly credit card bills. The request from Richard Cordray,...
  • Regulators accuse Cash Call of improperly collecting from borrowers

    Regulators accuse Cash Call of improperly collecting from borrowers
    Federal regulators on Monday sued Anaheim online lender CashCall Inc., accusing the company of unlawfully collecting money from borrowers. The Consumer Financial Protection Bureau said CashCall violated federal lending laws in at least eight states...
  • Maryland to receive $88 million of $2.1 billion national settlement

    Maryland to receive $88 million of $2.1 billion national settlement
    Maryland expects to receive about $88 million of a $2.1 billion national settlement reached with Ocwen Financial Corp. over "systematic misconduct" in the mortgage servicer's handling of loans. Announced Thursday, the deal settles a federal complaint...
  • Ally Financial pays $98 million to settle auto lending bias probe

    Ally Financial pays $98 million to settle auto lending bias probe
    Ally Financial Inc., a former General Motors Corp. lending arm that taxpayers bailed out during the financial crisis, will pay $98 million to settle federal government allegations that car dealers overcharged blacks, Latinos and Asians for Ally’s...
  • The Supreme Court shifts the balance of power in divided government

    The Supreme Court shifts the balance of power in divided government
    If I were Consumer Financial Protection Bureau Director Richard Cordray, I might be rethinking my retirement plans. Cordray is only 55, so it'll be a few years before the AARP inundates him with solicitations. But he may be the last director to win...
  • GE Capital to refund $225 million to settle credit card allegations

    GE Capital to refund $225 million to settle credit card allegations
    GE Capital agreed to pay $225 million to about 750,000 customers to settle federal allegations of deceptive and discriminatory credit card practices, federal officials said. The claims included an accusation that the financial firm barred Latino...
  • Report cites mortgage servicing problems at banks, nonbanks

     
    The Consumer Financial Protection Bureau issued a report Wednesday that says banks and nonbanks have problems handling mortgages. The report cites sloppy account transfers and poor payment processing. “Our examinations of banks and nonbanks allow us...