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Bill to loosen financial rules would save $24 billion — and slash consumer protection bureau funds

The House Republican legislation scaling back Dodd-Frank financial regulations would reduce federal budget deficits by $24.1 billion over the next decade — in part by slashing funding for the Consumer Financial Protection Bureau, according to an estimate by the nonpartisan Congressional Budget...

Consumers Lose With A Weak Consumer Financial Protection Bureau

By Jessica Scholes and Sarah Rosenthal, Staff Attorneys, New York Legal Assistance Group John remembers all too clearly the day the pre-paid debit card he used to pay his monthly bills, including his rent, stopped working. John could not access a balance of nearly $2000, including his paychecks, which he regularly deposited to the card. Show More Summary

Consumer agency chief, his job on the line, takes Republican attacks in stride

Republican lawmakers are pushing a bill through Congress that would allow the president to sack the director of the Consumer Financial Protection Bureau at any time for any reason. But what are the odds President Trump would fire the head of a government agency he has issues with? Cough. The Republican...

Small business access to credit examined by federal regulator

Small business access to credit studied by Consumer Financial Protection Bureau        

Ocwen Financial Rope-a-Dopes The Consumer Financial Protection Bureau

Ocwen Mortgage Servicing, once the nations leading non-bank servicer is on the ropes; beaten and battered by the last federal agency with a modicum of concern for Main Streeters: the Consumer Financial Protection Bureau. CFPB has taken...Show More Summary

Congress is discussing a plan to dismantle some of the biggest Wall Street regulations

US lawmakers are considering a bill to overhaul the financial regulation system in the US and unravel several post-financial crisis measures. The changes could include limiting the Consumer Financial Protection Bureau and changing the...Show More Summary

Feds: Tribe-owned online lenders collected on invalid debts

Federal regulators sued four online lenders for collecting consumer debts they weren't legally owed, an area that is a prime source of consumer complaints. The Consumer Financial Protection Bureau filed … Click to Continue »

Washington's Student Loan Complaints Shot Up 732 Percent Over the Last Year, Consumer Financial Protection Bureau Reports

3 weeks agoUnited States / Seattle : Slog

by Sydney Brownstone Predatory lenders are a problem for Washington state students, but efforts to create a student loan bill of rights in the state legislature have stalled. zimmytws/Getty Images According to a new report from the federal...Show More Summary

Ocwen Sued, Shut Down in Multiple States

There are bad days, and worse days, and there are days like Ocwen Financial Corporation (OFC) had on Thursday. The company was not only sued on multiple grounds by both the Consumer Financial Protection Bureau (CFPB) and the State of...Show More Summary

Consumer Financial Protection Bureau Sues Ocwen For Illegally Foreclosing On Homeowners

Ocwen Financial Corporation has come under fire from federal and state agencies for disreputable mortgage collection practices, resulting in widespread errors and illegal foreclosures. The problem is widespread enough that the earlyShow More Summary

Federal consumer agency accuses major mortgage servicer of mishandling loans

The Consumer Financial Protection Bureau sued Ocwen Financial Corp., one of the nation’s largest mortgage servicers, on Thursday, alleging the company engaged in “significant and systemic misconduct” that caused borrowers to lose their homes. In addition to the lawsuit filed in U.S. District Court...

CFPB sues Ocwen Financial over mortgage services

The Consumer Financial Protection Bureau sues Ocwen Financial over mortgage services, sending shares downward. CNBC's Dominic Chu reports.

U.S. and States Accuse Subprime Mortgage Servicer of Years of Abuses

The Consumer Financial Protection Bureau and mortgage regulators from 20 states are moving to limit the operations of Ocwen Financial, which has a history of regulatory problems.

Loan-servicing company crashes after regulators say big errors cost borrowers their homes (OCN)

The US Consumer Financial Protection Bureau on Thursday sued Ocwen Financial Corp and its subsidiaries, alleging the mortgage loan servicer's "years of widespread errors, shortcuts, and runarounds cost some borrowers money and others...Show More Summary

Regulators sue Ocwen Financial, say it mishandled mortgages

State and federal authorities are suing Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts. The Consumer Financial Protection Bureau said Thursday that Ocwen generated … Click to Continue...

What’s the new ‘geocoding tool’ that the CFPB mentioned in its mortgage rule update?

Last week, the Consumer Financial Protection Bureau (CFPB) released a rather dry 150-page amendment proposal for Regulation C of the Home Mortgage Disclosure Act (HMDA). However, buried within the proposal were some interesting clues surrounding a new geocoding tool that the CFPB is providing to help lenders identify a property's census tract...

Revised GOP bill would destroy the Consumer Financial Protection Bureau

Give Rep. Jeb Hensarling this much credit: He’s persistent. And he’s not afraid to completely bend the truth in pursuit of weakening consumer safeguards. Hensarling, chairman of the House Financial Services Committee, has made it his mission to roll back reforms put in place after the financial-services...

Cordray May Run for Ohio Governor

Politico: “Gary Cohn gave Richard Cordray, the head of the Consumer Financial Protection Bureau, an ultimatum over dinner a few weeks ago: Go the easy way, or go the hard way. Cohn, President Donald Trump’s top economic adviser, had heard [...]

Banks and credit card companies really hate class action lawsuits. Will Trump help to outlaw them?

Some time in the next few weeks, the Consumer Financial Protection Bureau is expected to impose stringent limits on the ability of banks and credit card companies to avoid consumer lawsuits. The financial services industry has been screaming bloody murder about the CFPB’s plan. You can expect the...

Your Money: 6 Tips for Avoiding the Worst Student Loan Repayment Traps

The Consumer Financial Protection Bureau accused Navient, the nation’s largest student loan servicer, of much wrongdoing. Here’s how to steer clear of problems.

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