richard cordray

From The President: Celebrating 5 Years with Woodstock Institute

July 17, 2013 - 10:57am
Dory Rand

We knew that deregulation of the financial industry and short-term profit-seeking through toxic loan products had led to the disaster, but we didn’t know how we were going to help people in foreclosure and make our financial system more just and sustainable.

Speak up for Illinois consumers and support Richard Cordray this week

As we recently noted, a vote to confirm Richard Cordray as the Director of the CFPB is likely to happen this week. Senator Kirk has blocked Cordray in the past, and we need to let him know that voting against Cordray is voting against Illinois consumers.

How can you make your voice heard on Director Cordray’s confirmation?

Letter to Sen. Kirk urging him to confirm Richard Cordray as CFPB director

Sign on letter urging Sen. Mark Kirk to vote for Richard Cordray's nomination as head of the Consumer Financial Protection Bureau. Sen. Kirk previously voted against moving Cordray's nomination forward and has signed a letter indicating he will oppose the confirmation. A vote against Cordray is a vote for fewer protections for Illinois consumers. Without a director the CFPB will not have the authority to rein in some of the worst actors in the financial industry. 

Update on Richard Cordray nomination

Richard Cordray

 It will be crucial to gather as much support for Cordray as possible between now and July.

We will be following up with next steps for how you can communicate with Sen. Kirk about the importance of confirming Cordray. In the meantime, please continue to call his office and let him know why we need a strong leader at the head of the CFPB.

Act today: Tell Sen. Kirk to support Cordray

Written by Dan Fair on May 20, 2013 - 6:26pm

For almost two years, the CFPB has protected consumers from dangerous financial products and returned millions of dollars to those who were victimized by them. Yet these Senators are willing to leave consumers more vulnerable to predatory products not because they have issues with Cordray, but because of objections to the structure of the agency.

The CFPB’s work is too important to be held up by political grandstanding.

From the President: Bank payday rules show what can be done with strong regulatory leaders—and we need them at CFPB and FHFA

Written by Dory Rand on May 16, 2013 - 2:16pm
Dory Rand

 

Last month fair lending advocates cheered when the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation proposed new guidance that would require banks under their supervision that offer bank payday or deposit advance products to comply with traditional safe and sound lending practices such as lending only after conducting proper underwriting and considering the borrower's ability to repay the loan.

7,000 Illinoisans Tell Sen. Kirk it’s Time to Support CFPB Director Cordray

Written by Dan Fair on May 7, 2013 - 6:37pm

The petitions were delivered as part of a national movement during which over 160,000 Americans signed a petition from Americans for Financial Reform asking members of Congress to confirm Cordray let the CFPB continue to do its job of protecting consumers.

Sen. Kirk’s Vote on Cordray Disappoints

Written by Dan Fair on March 19, 2013 - 9:12pm
 
Last week, we sent a letter to Sen. Kirk urging him to vote in favor of Cordray’s confirmation. Illinoisans continue to suffer the effects of predatory and deceptive financial practices. At a time when consumer debt issues have topped the list of complaints to the Illinois attorney general five years in a row, Sen. Kirk’s vote is disappointing.
There’s no two ways around it: A vote against Cordray’s confirmation is a vote for fewer protections for Illinois consumers.

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