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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 see all

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  • 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.
  • 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 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,...

    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...

    Banks embracing a housing-bubble favorite: interest-only loans

    Banks embracing a housing-bubble favorite: interest-only loans
    Most of the risky mortgages that triggered the financial crisis have disappeared from the marketplace, and lenders will have even more reason to avoid them because of a new federal crackdown on loose lending. But one housing-bubble favorite —...