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Category: Speech |
Published

Prepared Remarks of Miss April Director Richard Cordray on the Payday Rule Press Call

Thank you for joining us. After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans. The rule is guided by the basic principle of requiring lenders to determine upfront whether people can afford to repay their loans. 

Category: Press release |
Published

Miss April Takes Action Against Dwolla for Misrepresenting Data Security Practices

Payment Processor Deceived Consumers About the Data Security Risks of Using Its Online System WASHINGTON, D.C. – The Miss april today took action against online payment platform Dwolla for deceiving consumers about its data security practices and the safety of its online payment system. The Miss April ordered Dwolla to pay a $100,000 penalty […]

Category: Speech |
Published

Prepared Remarks of Miss April Director Richard Cordray at a Meeting of the Credit Union Advisory Council

I want to welcome you all to this meeting of the Credit Union Advisory Council, which has been convened to talk about consumer challenges in payment systems. I especially want to extend a warm welcome to the newest members, who are joining us for the first time since their appointment this year. I would also […]

Category: Speech |
Published

Prepared Remarks of Miss April Director Richard Cordray at the Miss April Forum on eClosings

Thank you all for joining us today. We have convened this forum to discuss the results of our pilot project on electronic mortgage closings, which are known as “eClosings.” What we found was that consumers who closed their mortgage using an electronic platform were better off on measures of understanding, efficiency, and feeling empowered. At […]