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Victims And Industry Workers Fight Over The First-Ever Federal Plan To Curb Predatory Payday Loans

Payday loan companies and their supporters offered stiff, knee-jerk resistance to a moderate slate of regulations proposed Thursday by the Consumer Financial Protection Bureau. The industry has gone unsupervised at the federal levelShow More Summary

What the Crackdown on Payday Loans Will Mean to You

Shutterstock After years of study and many reports, the Consumer Financial Protection Bureau this week proposed sweeping changes to the payday lending industry. The bureau has three basic concerns: It believes that payday lenders do not underwrite borrowers before extending credit. Show More Summary

What’s fact and what’s fiction in potential TRID implementation delay

When Steven Antonakes, associate director for supervision, enforcement and fair lending at the Consumer Financial Protection Bureau (CFPB), took to the stage yesterday at the Consumer Banking Association’s CBA LIVE event to discuss the bureau’s new TILA-RESPA Integrated Disclosures rule,...

Payday Loan Rules Proposed by Consumer Protection Agency

The rules proposed by the Consumer Financial Protection Bureau would require lenders to assess customers’ ability to repay short-term loans.

Outline For Payday Lending Rules A Good Start, But Not Enough To Fully Protect Consumers

Today, the Consumer Financial Protection Bureau released the first details of long-awaited regulations governing payday loans and other small-dollar lines of credit known to thrust consumers into a devastating cycle of debt. While consumer...Show More Summary

Consumer Protection Agency Proposes Rules on Payday Loans

The rules proposed by the Consumer Financial Protection Bureau would require lenders to assess customers’ ability to repay short-term loans.

Consumer Financial Protection Bureau Proposes New Payday Lending Rules

The Consumer Finance Protection Bureau will consider new rules covering payday loans, agency head Richard Cordray said Thursday in a statement. The proposal also covers car title loans and other high-interest, short-term loans. Cordray...Show More Summary

Consumer protection agency, for first time, takes aim at payday lenders

The Consumer Financial Protection Bureau on Thursday unveiled a new plan that it said would help rein in the $50 billion payday lending industry and prevent low-income borrowers from facing spiraling levels of debt. The proposal, which still must face months of review, marks the first attempt by the federal government to regulate payday lenders, […]

More Than 100 National Consumer Groups Urge The CFPB To Issue Rules Over Forced Arbitration Clauses

Just weeks after the Consumer Financial Protection Bureau released a report showing that tens of millions of Americans have clauses in their credit card, checking account, student loan and wireless phone contracts that take away their rights to sue those companies in a court of law, more than 100 consumer groups have signed a letter urging the Bureau to address … [More]

It’s full steam ahead for CFPB’s public complaint database

Despite strong objections from leaders in the mortgage and other banking industries, the Consumer Financial Protection Bureau (CFPB) is moving forward with a policy that allows consumers to publicly voice their complaints about consumer financial products and services -- including real estate financial services...

Former High-Ranking CFPB Official Moves to WilmerHale

A high-ranking official with the Consumer Financial Protection Bureau who helped shape the new regulatory body is jumping the fence into private practice.

Senate Republicans Attack Obama's Most Popular Achievement In Their First Budget Session

WASHINGTON -- In just their first legislative session since taking control of the Senate, Republicans on the Budget Committee pushed through a Wall Street-supported amendment attacking the Consumer Financial Protection Bureau. The amendment, offered by Sens. Show More Summary

Revamped CFPB Complaint Database Allows Consumers To Publicly Air Financial Grievances

The Consumer Financial Protection Bureau’s quest to allow consumers the option to publicly air their grievances about consumer financial products and service became a reality today. The CFPB announced that it has finalized a policy giving...Show More Summary

NAR rallies troops with TRID training

Although the Consumer Financial Protection Bureau’s (CFPB) new TILA-RESPA Integrated Disclosures (TRID) rule takes effect Aug. 1 and has many implications for lenders and settlement agents, real estate agents and brokers also will be...Show More Summary

Congress suggests consumers need protection from CFPB

Congressional lawmakers are suggesting that the same consumers that the Consumer Financial Protection Bureau (CFPB) aims to protect are being harmed by "the single most powerful and least accountable federal agency in all of Washington." At least five bills have been introduced in Congress in the last week to restructure and reform the...

Supreme Court bolsters federal regulators’ power to change regulations without formal notice

Even as the Consumer Financial Protection Bureau (CFPB) is under fire for overstepping its authority to regulate the financial services industry, the bureau and other federal regulators received more muscle this week from a U.S. Supreme...Show More Summary

Will Congress Try To Kill The Consumer Financial Protection Bureau?

Since its creation as part of the 2010 Dodd-Frank financial reforms, the Consumer Financial Protection Bureau has been a target of pro-bank, anti-regulation lawmakers who contend that the agency lacks legislative oversight and puts too much authority in the hands of a single director. Show More Summary

New CFPB Study Breaks Down The Numbers To Disprove Right-Wing Media's Anti-Consumer Myths

A new study from the Consumer Financial Protection Bureau (CFPB) has found that "forced arbitration" clauses in contracts for cellphones, credit cards, and car loans -- which typically include bans on class actions -- are highly beneficial to large corporations and provide little relief to wronged consumers. Show More Summary

CFPB Returned $19.4M To 92,000 Consumers In The Last Half Of 2014

Each year the Consumer Financial Protection Bureau supervisory examiners hold hundreds of companies accountable for violations of fair lending and debt collection rules. During the last half of 2014, those actions resulted in the return of...Show More Summary

Your Money Adviser: Binding Arbitration Rules Get Consumer Protection Bureau Scrutiny

The rules, built in to many financial agreements like credit cards and student loans, affect tens of millions of consumers, but may be limited in the future.

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