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Tuesday, July 31, 2012

CFPB’s Cordray to Testify Today on Semiannual Report

Consumer Financial Protection Bureau Director Richard Cordray is scheduled to testify today at a Senate Banking Committee hearing on the bureau’s semiannual report. The report, which was released yesterday, provides details on the CFPB’s activities during the last six months, including highlights from its consumer complaint database.

The report shows that 43 percent of the approximately 53,500 complaints the bureau has received prior to June 30 were about mortgages, while 34 percent were about credit cards. Complaints involving bank accounts and other services ranked third at15 percent, and student-loan complaints were fourth at 4 percent.

Read the press release.
Read the report.

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