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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 37-48
  • Banks rake in overdraft fees on small debit card purchases, CFPB finds

    Banks rake in overdraft fees on small debit card purchases, CFPB finds
    The majority of debit card overdrafts are caused by small purchases, resulting in many consumers paying more for overdraft protection than they spent on the transactions that triggered it, according to a study released Thursday by the Consumer Financial...
  • Overdraft fees risky for consumers, bonanza for U.S. banks: report

    WASHINGTON (Reuters) - Consumers who opt in for bank overdraft protection end up paying more than double for small purchases, a U.S. consumer watchdog warned on Thursday, giving banks a fee bonanza when checking accounts are short of funds. A study by...
  • 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...
  • ACE Cash Express to pay $10 million over 'cycle of debt' allegations

    ACE Cash Express to pay $10 million over 'cycle of debt' allegations
    ACE Cash Express, a leading payday lender, has agreed to pay $10 million to settle federal allegations it used false threats of lawsuits and other illegal tactics to pressure customers with overdue loans to borrow more to pay them off. The Irving,...
  • Payday lender will pay $10 million to settle consumer bureau's claims

    Payday lender will pay $10 million to settle consumer bureau's claims
    Consumer advocates have long warned that payday lenders purposely try to lure borrowers into an expensive and debilitating cycle of debt. Now, the nation's consumer financial watchdog says it has proof. The Consumer Financial Protection Bureau accused a...
  • Plan to expand complaints database would benefit consumers

    Savvy consumers who want to check out a product or business to see if it's worth their hard-earned dollars have plenty of places to go online to search for information. But while there's plenty of data out there, it's often too vague to draw conclusions....
  • 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...
  • 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...
  • 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...
  • American Express to pay $75 million in deceptive practices case

    Three American Express Co. subsidiaries have agreed to pay about $75 million in restitution and penalties for a variety of illegal practices involving hundreds of thousands of credit-card customers, regulators said Tuesday. American Express Travel...
  • Debt collectors could face new regulations

    The calls to Dorothy Smith of Bethlehem started in January. She was told she owed nearly $8,300 for an unpaid home-improvement loan. Smith told the caller, Portfolio Recovery Associates of Virginia, that she didn't owe the debt. The money had been...