Donald Trump’s recent refusal to promise he’ll accept the presidential election’s result has raised much concern. Yet, there has been little outcry over Consumer Financial Protection Bureau (CFPB) Director Richard Cordray recent dismissal of a court verdict against him. Last week, the U.S. Show More Summary
The Consumer Financial Protection Bureau was established in the wake of the 2007 financial meltdown that gave birth to the "Great Recession." Created by the 2010's Dodd-Frank Act, the CFPB was to operate as a Wall Street watchdog agency. To ensure its independence from political interference, it was to......
Image Courtesy of Student Loan Hero If you’ve defaulted on your student loans, the option to 'rehabilitate' your loans is intended to help you get back on track. But according to a new report from the Consumer Financial Protection Bureau (CFPB), the rehabilitation system is broken. So broken, in fact, [...]
The Consumer Financial Protection Bureau (CFPB) was created in 2010 by the Dodd-Frank Act to help reform Wall Street practices. But last week the D.C. Circuit Court of Appeals ruled that the CFPB was unconstitutional. The case provides a new episode for a long-running series we might (if we wanted to have the worst Netflix […]
For Once, Liberty Won: Court Ruling Reins in Unaccountable Financial Regulation Agency. The very first line of today’s court ruling in PHH Corporation v. Consumer Financial Protection Bureau (CFPB) states: “This is a case about executive power and individual liberty.” Today, for once, liberty won in a big way. Show More Summary
Lawyers who advise banks, mortgage lenders and other industries regulated by the Consumer Financial Protection Bureau were hit by a blizzard of calls and inquiries this week by clients who are feeling more confident in challenging the agency after a court ruling limited its authority and rejected its statutory interpretations. Show More Summary
The Consumer Financial Protection Bureau survived a constitutional challenge and will remain in business, though a federal appeals court took away power from its director and tossed out a $109 million penalty against a mortgage company....The...Show More Summary
That is the Consumer Financial Protection Bureau, part of Dodd-Frank. Here is the Wall Street Journal on the recent court decision to restrict the powers of the Bureau: The panel’s decision limited the broad discretion granted the five-year-old...Show More Summary
I wrote only yesterday about the Consumer Financial Protection Bureau’s (CFPB’s) regulatory overreach with regard to payday loans, and it seems the D.C. Circuit Court was on the same wavelength. Judge Brett Kavanaugh, writing for the...Show More Summary
There’s nothing inherently wrong with judges expressing themselves passionately or colorfully, and nothing inherently partisan when they do so, on one side or another. The Supreme Court in the 1930s was famous for the impassioned byplay among its members, as when conservative Justice William McReynolds...
Not long ago, the Consumer Financial Protection Bureau exacted its largest fine ever -- $185 million -- from Wells Fargo Bank for defrauding over 1 million customers. Sounds like a lot of money. But as President Nixon might have said...Show More Summary
Republicans and their business allies have been trying to nullify Elizabeth Warren’s brainchild, the Consumer Financial Protection Bureau, since its inception. And that makes sense, since in its first five years, CFPB has taken $11 billion in illegally gotten gains from financial-industry balance sheets and returned them to consumers. Show More Summary
A U.S. consumer watchdog agency that helped unravel the Wells Fargo & Co. scandal has an unconstitutional structure because it gives too much power to its director, a federal appeals court ruled Tuesday. The court said the way that the Consumer Financial Protection Bureau is organized violates...
By Deirdre Fulton / Common Dreams A three-judge panel said Tuesday that the Consumer Financial Protection Bureau, brainchild of Sen. Elizabeth Warren, has an unconstitutional structure.
Ruling marks setback, but not a shutdown of the agency created after the financial crisis.
Thanks to a federal circuit court ruling Tuesday morning, the president will be able to remove the head of the Consumer Financial Protection Bureau, the agency charged with curbing abuse in the financial sector, for any reason. And the...Show More Summary
Ruling marks setback, but not a shutdown of the Consumer Financial Protection Bureau
In a rare victory for the Constitution and American political tradition, the US Court of Appeals from the DC Circuit today found that the Consumer Financial Protection Bureau was “structurally unconstitutional.” The offending structure consists of an independent agency with a single, all-powerful executive director. Show More Summary
Mortgage lender PHH Corp. is having a very good Tuesday. The company has been battling the Consumer Financial Protection Bureau (CFPB) over its mortgage insurance practices since 2014, when the CFPB alleged that PHH referred consumers to preferred mortgage insurer partners and took reinsurance fees as kickbacks...
"...a far greater threat to individual liberty" The post Appeals Court: Consumer Financial Protection Bureau’s structure unconstitutional appeared first on Hot Air.