At 10:00 a.m. EDT on September 29, Richard Cordray, Director of the Consumer Financial Protection Bureau, will testify at a House Financial Services Committee hearing to present the CFPB’s latest semi-annual report.
Cordray last appeared before this House committee in March 2015. During that hearing, U.S. Rep. Randy Neugebauer announced the introduction of a bill to reform the CFPB, and committee Members emphasized the need for reforms to make the Bureau accountable and transparent.
In June 2015, the CFPB released its Semi-Annual Report Spring 2015, which covered a six-month time period. This report focused on mortgages, credit cards, and student loans, along with responses to consumer complaints. “The challenges consumers face in navigating and obtaining financial products and services are a driving force behind the CFPB’s efforts to make consumer financial markets work better,” the report states. “Financial products like mortgages, credit cards, and student loans involve some of the most important financial transactions in people’s lives,” Cordray wrote in his introduction to the report.