Live from Detroit! The CFPB held a field hearing today with remarks from Richard Cordray, CFPB Director.
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If you were not able to be in Detroit for the First CFPB meeting today on Credit Bureau’s Click the link below, make sure to watch Stewart Pratt and Terry Clemans. Their comments are spot on as usual. My big moment is at 1:38:30 Thank you!
[The credit reporting] “system must merit our trust and confidence for the credit markets to be perceived as fair. We all share in this responsibility. But the credit reporting market is not one where consumers can shop around among different providers, for people have no choice about whether to have any of the credit reporting companies keep track of their credit history. That is why the Consumer Bureau’s new authority is so important, and why it must be exercised carefully and effectively.”