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House Republicans vote against American consumer, again

Proving once again how much disdain Republicans really have for the American public, the House passed a bill Wednesday, 250-173, to weaken the Consumer Financial Protection Bureau. Because they really, really don't want us to have any recourse against predatory businesses trying to fleece us. Show More Summary

Payday Lending's Contrasting Cultures of Wealth and Exploitation- and Big Data's Role

Payday loans and other abusive high-interest loans targeting the working poor are one of the scourges of our financial system. Last month, the Consumer Financial Protection Board proposed new rules for the industry to help families avoid...Show More Summary

House passes bill to cap banking watchdog's budget at $655M in 2020

The Republican-controlled House has passed legislation curbing the growth of the Consumer Financial Protection Bureau, the agency established by the 2010 overhaul of financial regulations to enforce... To view the full story, click the title link.

Republican House bill curbs budget for banking watchdog

WASHINGTON (AP) — The Republican-controlled House has passed legislation curbing the growth of the Consumer Financial Protection Bureau, the agency established by the 2010 overhaul of financial regulations to enforce laws aimed at protecting...Show More Summary

Wanna close on your real estate transaction in 30 days? You better buy or sell before August 2015.

New disclosures created by the CFPB (Consumer Financial Protection Bureau) are set to go into effect on August 1, 2015. In my opinion, the new disclosures will be a huge improvement compared to the Good Faith Estimate that HUD created in 2010. At least the new disclosures will show the total payments due…and of course, […]

Mortgage Servicer Must Refund Consumers $48M For Array Of Deceptive Practices

Every once in a while government agencies team up to take down unscrupulous operations that prey on financially vulnerable consumers. Such was the case this week when the Consumer Financial Protection Bureau and the Federal Trade Commission...Show More Summary

Military members to get back $3.1M in "hidden fees"

The Consumer Financial Protection Bureau says a company that collected debt payments didn't properly disclose the fees

Rules clarify how lenders should provide housing counseling information to consumers

The Consumer Financial Protection Bureau (CFPB) has released its final interpretation of a regulation that outlines mortgage lenders' duty to provide mortgage applicants with housing counselor information...

Payday Lending Regulations Could Turn Lenders Into Delinquent Borrowers

By Kyle Younker A sweeping new regulatory proposal that aims to protect consumers from unaffordable cycles of debt could ensnare the companies they borrow from in a debt trap of their own. That’s because the Consumer Financial Protection Bureau (CFPB) has the core practices of payday lenders in its sights. Payday lenders [...]

NewDay, different scandal — this time, it’s licensing exam-related

Just two months after the Consumer Financial Protection Bureau (CFPB) took action against lender NewDay Financial LLC for deceptive mortgage advertising and kickbacks, the nonbank mortgage lender is under siege again...

InstaMed Brings Apple Pay to Healthcare For First Time

Nearly 20 percent of U.S. consumers with credit records — 42.9 million people — have unpaid medical debts, according to the Consumer Financial Protection Bureau. With mobile payments expected to reach grow from $52 billion in 2014 to...Show More Summary

Will Sallie Mae Escape the Consumer Financial Protection Agency's Oversight?

The U.S. Senate is expected to begin considering financial regulatory reform legislation this week that would create a new federal watchdog agency in charge of regulating all forms of consumer credit, including private student loans....Show More Summary

Guest Post: Why We Need a Strong Consumer Financial Protection Agency

[Next week, the U.S. House of Representatives is planning to consider legislation that would overhaul the government’s financial regulatory system. As part of that bill, Congress would create a new federal agency that would aim to protect consumers from predatory lending practices. Show More Summary

Bureau fines mortgage lender $250,000 for deceptive ads

Continuing its streak of taking action against mortgage lenders accused of engaging in deceptive advertising practices, the Consumer Financial Protection Bureau (CFPB) announced today that it has fined RMK Financial Corp., $250,000 for misrepresenting to consumers that it was affiliated with the U.S. Show More Summary

CFPB Launches Effort To Bring Financial Education To Schools

While it’s never too late to become financially literate, it certainly helps if you start early. That’s why the Consumer Financial Protection Bureau is launching a national effort to improve financial education in schools. The new educational...Show More Summary

Vera Launches With A Promise To Protect Data Everywhere

Information security is perhaps the busiest technology sector right now. And with good cause - hardly a week goes by without a major organization suffering a financially damaging, credibility crucifying and consumer confidence bruising data breach - Target, Anthem, JP Morgan Chase, Ebay - the list goes on. So for [...]

Student Loan Victims Pay the Price of DOE Inaction

On March 31, the Department of Education met with a group of student loan borrowers at a meeting hosted by the Consumer Financial Protection Bureau. These borrowers, organized by a group known as the Debt Collective, borrowed substantial...Show More Summary

Updates shed light on how lenders, agents will be audited for regulation compliance

If you’re still digesting the Consumer Financial Protection Bureau’s (CFPB) 1,888-page TILA-RESPA Integrated Disclosures (TRID) rule, the bureau has more reading for you to do: Two lengthy updates to the examination procedures it will...Show More Summary

New toolkit aims to teach consumers what they should know before purchasing a home

With four months to go before the mortgage application process gets a total overhaul, the Consumer Financial Protection Bureau (CFPB) is beginning to educate consumers on the changes they can expect to encounter if they purchase a home after August...

Two issues for Corinthian Students: Private and Federal Student Loans

Students protesting their student loan repayment options may have something, at least when it comes to private student loans. If they go into default, they have less recourse against them. According to the Consumer Financial Protection Bureau: "The short answer is no, unless they have a court order. If your loan is [...]

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