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Report: Racial and gender discrimination rampant at Obama-Warren consumer agency

(Paul Mirengoff) The Consumer Financial Protection Bureau was designed by the Obama administration, under the leadership of Elizabeth Warren, pursuant to the Dodd-Frank Act. One of its purposes is to root out discrimination in financial markets. Show More Summary

BIGOTRY RAMPANT INSIDE AGENCY OBAMA CREATED TO FIGHT FINANCIAL BIAS: Employees of the Consumer Finan…

BIGOTRY RAMPANT INSIDE AGENCY OBAMA CREATED TO FIGHT FINANCIAL BIAS: Employees of the Consumer Financial Protection Bureau are coming forward in droves talking about widespread racial, gender and ethnic discrimination within the workforce there, according to Richard Pollock of the Daily Caller News Foundation Investigative Group. Things are so bad in one key division of […]

J.G. Wentworth Hoping To Keep CFPB Out Of Its Industry

Director of the Consumer Financial Protection Bureau Richard Cordray waits for the beginning of a hearing before the Senate Banking, Housing and Urban Affairs Committee on April 7 in Washington, D.C. His agency has filed a lawsuit that asks a federal judge to let it regulate companies that purchase structured [...]

The Mortgage Document Deluge: Did TRID Help? (Part 4 of 4)

The TILA-RESPA Integrated Disclosure Rule (TRID) was put into force on August 2015 by the Consumer Financial Protection Bureau (CFPB). The documents required by TRID that were discussed in the first 3 parts of this series dealt withShow More Summary

GOT A CREDIT CARD OR A MORTGAGE? THEN CFPB KNOWS ALL ABOUT YOU: Officials at the Consumer Financial

GOT A CREDIT CARD OR A MORTGAGE? THEN CFPB KNOWS ALL ABOUT YOU: Officials at the Consumer Financial Protection Bureau – the hybrid financial regulatory agency President Obama and a Democratic Congress created in 2010 – are accumulating what may well be the world’s largest database of information on American consumers. And CFPB’s bureaucrats refuse […]

Another View: Payday Lenders’ Fight Against Regulator Would Be a Long Shot

New guidelines from the Consumer Financial Protection Bureau are certain to face legal challenges, but those claims will probably fail.

Wasserman Schultz Backs Down From Opposition to Predatory Payday Loan Protections

Wasserman Schultz co-sponsored legislation in the U.S. House of Representatives to roll back proposed Consumer Financial Protection Bureau protections against predatory lending practices. Such practices often prey on those in poverty...Show More Summary

The CFPB Plans On Regulating Payday Lenders, But What Will The Unintended Consequences Be?

The Consumer Financial Protection Bureau (CFPB) plans to crack down on payday lenders, moving to regulate high-interest, low dollar loans that are made by storefront lenders to an estimated 12 million lower-income households living paycheck...Show More Summary

Consumers are getting new protections from predatory lenders, and the lenders are outraged

The Consumer Financial Protection Bureau is cracking down on some of the payday lending industry’s most abusive practices, and boy are payday lenders getting whiny about it. So very whiny—and all kinds of poutraged. “The CFPB has made...Show More Summary

New Payday-Loan Rules Won’t Stop Predatory Lenders

3 weeks agoNews : Huffington Post

A borrower taking out a $500 loan could still pay over 300 percent in annual interest, despite new rules designed to crack down on predatory small-dollar lending out Thursday from the Consumer Financial Protection Bureau (CFPB). -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. Show More Summary

Hurting the Poor Is No Way to Help Them: Payday Lending Rules Edition

The Consumer Financial Protection Bureau is at it again. In the name of protecting consumers, it would like to ban or heavily restrict a tool that is very useful to them. This time the target is payday lending – high-interest, low-dollar “payday loans” – that the federal government wants to regulate out of existence. Show More Summary

The Payday Loan Industry Is Awful. But If the Government Kills It, Where Will Poor Americans Turn?

Get your countdown clocks ready, because it appears federal regulators are preparing to drop a bomb on the payday lending industry. Today, the Consumer Financial Protection Bureau proposed new rules that would completely change how the...Show More Summary

The Government's New Rules Will Make Payday Loans Less Terrible

Payday Loans are an undeniable debt trap: they’re designed to send borrowers into a downward spiral of debt, and that debt can keep you living paycheck-to-paycheck. To combat this, the Consumer Financial Protection Bureau (CFPB) has proposed guidelines to make payday loans less awful. Read more...

Closing The Payday Loan Trap: New Rules Will Help Borrowers

It's high time something was done about Payday Loan outfits fleecing poor people. Payday loan borrowers pay more in fees than original loan. CNN Money: The Consumer Financial Protection Bureau is taking aim at these short-term loansShow More Summary

Can you afford that payday loan? Feds say lenders should ask

The Consumer Financial Protection Bureau will release a set of sweeping proposals Thursday aimed at reshaping the market for payday loans and other types of expensive credit that both the agency and consumer advocates call “debt traps.” The proposed regulations, set to be released in advance of...

New Rules To Ban Payday Lending 'Debt Traps'

3 weeks agoNews : The Two-Way

The Consumer Financial Protection Bureau Thursday is announcing new proposed regulations which aim to stop some predatory lending practices.

The Mortgage Document Deluge: Does TRID Help? (Part 1 of 4)

The TILA-RESPA Integrated Disclosure Rule (TRID), in development by the Consumer Financial Protection Bureau (CFPB) for several years, became effective October 3, 2015. One of its major purposes was to help borrowers understand and cope with the deluge of documents they must read and sign prior to closing on a mortgage. Show More Summary

For-Profit College Industry Checks CFPB's Power, But Ruling Not A 'Slam Dunk'

Richard Cordray, director of the Consumer Financial Protection Bureau, speaks during a Senate Banking Committee hearing in Washington, D.C.,on April 7.A judge recently ruled the CFPB's civil investigative demand issued to the Accrediting Council for Independent Colleges and Schools was outside the scope of its authority. Photographer: Andrew Harrer/Bloomberg For the [...]

Banking and finance roundup

Trying to pressure banks to cease tax refund anticipation lending, FDIC staff crossed several lines of impropriety [inspector general executive summary via Kevin Funnell] Consumer Financial Protection Bureau, class action lawyers’ best...Show More Summary

CFPB's Motivation In Banning Class Actions Called Into Question

Consumer Financial Protection Bureau director Richard Cordray speaks during a panel discussion in Richmond, VA, on March 26.The CFPB is proposing a ban on arbitration clauses, which would impact the entire financial industry, encompassing hundreds of millions of bank accounts, credit cards and mortgages. (AP Photo/Steve Helber, File) The recent media [...]

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