ABSTRACT

Semi-Annual Report of the Bureau of Consumer Financial Protection, Hearing Before the Committee on Financial Services, United States House of Representatives, One Hundred Fourteenth Congress, Second Session, March 16, 2016   [open pdf - 4MB]

This testimony compilation is from the March 16, 2016 hearing on "Semi-Annual Report of the Bureau of Consumer Financial Protection" before the U.S. House Committee on Financial Services". From the statement of Richard Cordray: "Chairman Hensarling, Ranking Member Waters, and Members of the Committee, thank you for the opportunity to testify today about the Consumer Financial Protection Bureau's Semi-Annual report to Congress. I appreciate our continued dialogue as we work together to strengthen our financial system and ensure that it serves consumers, responsible businesses, and the long-term foundations of the American Economy. The Bureau presents this Semi-Annual Report to Congress and the American people ion fulfillment of its statutory responsibility and commitment to accountability and transparency. This report provides an update on the Bureau's mission, activities, accomplishments, and publications since the last Semi-Annual Report, and provides additional information required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank or Dodd-Frank Act). The Dodd-Frank Act created the Bureau as the nation's first Federal agency with a mission of focusing solely on consumer financial protection and making consumer financial markets work for America consumers, responsible businesses, and the economy as a whole. In the wake of the financial crises of 2008-2010, the president and Congress recognized the need to address widespread failures in consumer financial protection and the rapid growth in irresponsible lending practices that preceded the crises. To remedy these failures, the Dodd-Frank Act consolidated most Federal consumer financial protection authority in the Bureau." Statements, letters, and materials submitted for the record include those of the following: Richard Cordray.

Publisher:
Date:
2016-03-16
Copyright:
Public Domain
Retrieved From:
Financial Services Committee: http://financialservices.house.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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