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Consumer Financial Protection Bureau

Shahien Nasiripour

Fresh Out Of Government, Student Loan Warrior Warns About Major For-Profit College Chain

HuffingtonPost.com | Shahien Nasiripour | Posted 06.24.2015 | Politics

The revolving door between federal financial regulators and the industries they oversee doesn't usually spin in the direction of aiding low-income col...

Private Student Loans Are Trapping Co-Signers, CFPB Finds

The Huffington Post | Tyler Kingkade | Posted 06.18.2015 | College

Nine-in-ten borrowers who applied for co-signer release on their private student loans were rejected, a new Consumer Financial Protection Bureau repor...

Ben Walsh

Elizabeth Warren Has A New 'Sheriff Of Wall Street' In Mind

HuffingtonPost.com | Ben Walsh | Posted 06.18.2015 | Politics

Sen. Elizabeth Warren (D-Mass.) is privately urging New York Gov. Andrew Cuomo (D) to replace the head of the New York Department of Financial Service...

Reverse Mortgages: An Understanding Of The Risks

Andrew Lieb | Posted 06.18.2015 | Business
Andrew Lieb

This month, the Consumer Financial Protection Bureau (CFPB) published the article A closer look at reverse mortgage advertisements and consumer risks, which examines its study of advertisements for this product to older homeowners.

6 Undeniable Benefits Of A Reverse Mortgage

Michael Lazar | Posted 06.11.2015 | Fifty
Michael Lazar

A reverse mortgage is a feasible financial vehicle that is used by plenty of older Americans to access cash from their home's equity. We'll outline six undeniable benefits these home loans offer.

The CFPB & Prepaid Industry Face-Off

CompareCards | Posted 05.29.2015 | Money
CompareCards

The Consumer Financial Protection Bureau (CFPB) is a relatively new federal agency that was born in a swirl of political controversy, thanks to harsh opposition from many members of the financial industry and the lawmakers who strive to protect their interests.

Shahien Nasiripour

Consumer Agency Begins Probe Of Student Loan Servicers, Signaling Stronger Rules

HuffingtonPost.com | Shahien Nasiripour | Posted 05.14.2015 | Politics

The Consumer Financial Protection Bureau on Thursday launched a broad review of the often murky business of student loan servicing, questioning whethe...

Shahien Nasiripour

Obama Administration Considers New 'Roadblocks' For Ex-Corinthian Colleges Students Seeking Debt Relief

HuffingtonPost.com | Shahien Nasiripour | Posted 04.30.2015 | Politics

The U.S. Department of Education is considering new hurdles for student loan borrowers seeking to get out of their debts by claiming their schools swi...

Shahien Nasiripour

Education Department Steers Corinthian Colleges Students To Other Troubled For-Profits

HuffingtonPost.com | Shahien Nasiripour | Posted 04.29.2015 | Politics

The U.S. Department of Education is telling thousands of students from now-shuttered for-profit schools owned by Corinthian Colleges Inc. to consider ...

Shahien Nasiripour

Troubled For-Profit Corinthian Colleges Shutting Down As Education Department Faces Bill

HuffingtonPost.com | Shahien Nasiripour | Posted 04.27.2015 | Politics

Corinthian Colleges Inc., once one of the nation's largest chains of for-profit colleges, announced Sunday it is abruptly shutting down after failing ...

U.S. Foreclosures Rise

Jorge Newbery | Posted 06.22.2015 | Business
Jorge Newbery

Lenders started foreclosure against 53,514 homeowners in March, according to RealtyTrac, an increase of 11 percent from February. That brought to 152,147 the number of US homes that started down the bumpy road to foreclosure in the first quarter of 2015.

Shahien Nasiripour

Heald College Fined For Misleading Students About Job Prospects

HuffingtonPost.com | Shahien Nasiripour | Posted 04.15.2015 | Politics

Heald College, the jewel of a once-thriving chain of for-profit colleges owned by Corinthian Colleges Inc., misled students and accreditation agencies...

Mortgage Referral Fees and the Public Interest: 40 Years of Bungles

Jack M. Guttentag | Posted 06.08.2015 | Business
Jack M. Guttentag

Markets don't work well when one party to transactions has much more information than the other party, especially when the party with better information also controls the process. The two best illustrations of this rule are the markets for medical services and home mortgages.

Student Loan Victims Pay the Price of ED Inaction

Eileen Connor | Posted 06.02.2015 | College
Eileen Connor

If legal remedies for borrowers, such as defense to repayment, exist only on paper, they are not worth very much. Meeting with Corinthian borrowers is the first step in the Department's necessary recognition that it needs to be more proactive and protective when it comes to student borrowers.

Ben Walsh

Consumer Financial Protection Bureau Proposes New Payday Lending Rules

HuffingtonPost.com | Ben Walsh | Posted 03.26.2015 | Business

The Consumer Finance Protection Bureau will consider new rules covering payday loans, agency head Richard Cordray said Thursday in a statement. The pr...

Zach Carter

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

HuffingtonPost.com | Zach Carter | Posted 03.20.2015 | Politics

WASHINGTON -- In just their first legislative session since taking control of the Senate, Republicans on the Budget Committee pushed through a Wall St...

CFPB Study Proves Forced Arbitration Harms Consumers; Agency Should Prohibit the Practice Wherever It Can

Nan Aron | Posted 05.20.2015 | Politics
Nan Aron

Our film Lost in the Fine Print shows what happens when consumers and employees are prevented from standing up for their rights in court and instead forced to go before an arbitrator hired by the very company that wronged them. Much of the time, forced arbitration clauses mean those disputes never go anywhere at all. Now there is a new mass of additional evidence.

Paul Blumenthal

Online Payday Lender Pumped Dark Money Into Effort To Beat Back Regulation

HuffingtonPost.com | Paul Blumenthal | Posted 03.17.2015 | Politics

WASHINGTON -- Facing the prospect of imminent oversight by a newly created government regulator, the much-reviled payday loan industry’s lobbying ma...

Crackdown on Five Private Student Loan Collection Agencies -- But More Needs to Be Done

Equal Justice Works | Posted 05.13.2015 | Politics
Equal Justice Works

On February 27, the Department of Education announced it will end its contracts with five private collection agencies. It's good that the Education Department is cracking down, but much more needs to be done to hold collection agencies accountable for unfair or deceptive practices.

Campus Debit Cards: Good for You or Your University?

Equal Justice Works | Posted 05.03.2015 | College
Equal Justice Works

This is another area where Congress should step up to the plate. Students need to be protected from deceptive marketing. And debit card agreements between companies, colleges and universities should be subject to the same transparency requirements as campus credit cards.

Shahien Nasiripour

House Democrat Demands Details On Secretive For-Profit Student Debt Forgiveness Scheme

HuffingtonPost.com | Shahien Nasiripour | Posted 02.20.2015 | Politics

The public is financing a mass debt-forgiveness scheme largely in secret for distressed private student loan borrowers who attended schools once owned...

Does the New CFPB Rate Tool Help Consumers Shop for a Mortgage?

Jack M. Guttentag | Posted 04.18.2015 | Business
Jack M. Guttentag

Borrowers who are looking for the kind of mortgage shopping help that CFPB is trying to deliver but doesn't can now go to my home page and click on Find Your Mortgage Shopping Rate.

CFPB Must Rein in Predatory Payday Lenders with Strong Regulations

NCLR Action Fund | Posted 04.13.2015 | Politics
NCLR Action Fund

Low income working families seeking to simply pay the bills confront an array of challenges these days. "Payday lenders" are taking advantage of a borrower's precarious financial state and profit from pushing low-income families deeper into debt and poverty.

Consumer Protection Agency Preps Payday Lender Crackdown

The New York Times | Posted 02.08.2015 | Politics

In the world of consumer finance, they are chameleons: payday lenders that alter their practices and shift their products ever so slightly to work aro...

Why Do Some Borrowers Pay Higher Mortgage Interest Rates Than Others?

Jack M. Guttentag | Posted 04.09.2015 | Business
Jack M. Guttentag

I have been examining the CFPB tool to see how well it meets this challenge, and will report on it next week. This article lays the groundwork by looking at the different sources of rate differences.