If credit card companies earned a letter grade based on the number of complaints their customers voiced about them to the Consumer Financial Protection Bureau, Citibank would get a big fat "F." According to Millennial Personal Finance...Show More Summary
PAYBACK’S A… YOU KNOW: The Most Potent Federal Regulatory Agency Will Answer Solely to Donald Trump. The [Consumer Financial Protection Bureau] was unaccountable to Congress and the president—but not the courts. A federal appeals court ruling in October changed the fundamental structure of the CFPB and will allow future presidents to have direct control over […]
IF ONLY SOMEONE HAD ISSUED A WARNING ABOUT THIS AGENCY: The Most Potent Federal Regulatory Agency Will Answer Solely to Donald Trump: And the potential for Trump to abuse the power of the Consumer Financial Protection Bureau is huuge. And this never gets old:
American Advisors Group, Reverse Mortgage Solutions and Aegean Financial reached consent agreements with the Consumer Financial Protection Bureau after the regulator's investigation found they used ads whose scripts featured similarly misleading though reassuring claims: "Can I lose my home? "No you cannot lose your home"... Show More Summary
The federal Consumer Financial Protection Bureau said Wednesday that it has fined two Southern California reverse-mortgage firms for deceptive advertising practices, saying the companies wrongly told borrowers they could not lose their homes. American Advisors Group in Orange agreed to pay a civil...
After the controversial decision that declared the Consumer Financial Protection Bureau’s (CFPB) single-director structure “unconstitutional,” the authors of the legislation that created the bureau and a group of consumer rights advocates have something to say about the matter...
The Consumer Financial Protection Bureau sues to require an investment firm to release files in its inquiry into high-interest installment contracts.
This is an important point that would have been worth including in this NYT article on the growing risks in the subprime car loan market. The lack of oversight from the Consumer Financial Protection Bureau is likely a major reason that bad lending practices persist in this area.
The most complained-about financial companies aren't banks or credit card companies. They're credit reporting agencies — and by a wide margin. In fact, the big three credit agencies topped the latest Consumer Financial Protection Bureau (CFPB) monthly report. Show More Summary
WASHINGTON, Nov 29 - The U.S. lawmakers who helped bring the Consumer Financial Protection Bureau into being rose to defend it on Tuesday, urging the full U.S. Court of Appeals for the District of Columbia to review a ruling that poses...Show More Summary
Nobody wanted the Consumer Financial Protection Bureau except for liberal Democrats like President Obama and Senator Elizabeth Warren (who oversaw its creation). It’s a “bureau” that has redundant powers and is currently in limbo asShow More Summary
The Consumer Financial Protection Bureau is in the cross-hairs of Republicans who contend that it — and its director — have too much power.
Democratic lawmakers pleaded with their Republican counterparts last week not to mess with financial reform in general or the Consumer Financial Protection Bureau in particular. But that looks like wishful thinking. A stopgap government funding bill passed in September will expire Dec. 9. It’s...
As the Consumer Financial Protection Bureau’s (CFPB) battle with mortgage lender PHH Corp. enters its third year, the bureau is striking back against a recent federal court’s finding that its single-director structure is “unconstitutional” and challenging the court’s interpretation of the Real Estate Settlement Procedures Act (RESPA)...
Donald Trump vows to repeal the law that created the Consumer Financial Protection Bureau. Here's why that's a huge mistake
I have been vigorously recommending that President-elect Trump replace Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). I still think that replacing Director Cordray is necessary for reasons I’ve enumerated elsewhere; but on Friday the CFPB filed a petitionfor a rehearing of a recent and crucial case. Show More Summary
Always looking out for Wall Street, while conning Main Street into believing their populist lies, Republicans are now going to be able to achieve one of their goals: completely defanging the Consumer Financial Protection Bureau. The...Show More Summary
A week ahead of the deadline, the Consumer Financial Protection Bureau on Friday appealed a court ruling that could leave the independent watchdog vulnerable to the whims of President-elect Donald Trump. The financial agency had until...Show More Summary
The Consumer Financial Protection Bureau on Friday appealed a recent court ruling that could allow President-elect Donald Trump, once he takes office in January, to replace the watchdog agency’s embattled director. In a case brought against the CFPB by mortgage lender PHH, a federal appellate court...
TOO BIG TO SUCCEED: GOP, Business Groups Launch Campaign to Constrain CFPB. The trade group for credit unions has demanded that the Consumer Financial Protection Bureau immediately “cease its pending rulemaking” affecting its members, seeking to give the new administration a chance to cast a more skeptical eye on the proposals than the current Democratic […]