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Consumer Financial Protection Bureau

Consumer Reporting Agencies Follow Your Moves

Jason Alderman | Posted 08.13.2014 | Business
Jason Alderman

Did you know that there are dozens of specialty consumer reporting agencies that track your history for activities that may not appear on your regular credit reports -- things like bounced checks, late utility payments, insurance claims and prescription orders?

Are Prepaid Debit Cards the Next Big Target of the Consumer Financial Protection Bureau?

Curtis Arnold | Posted 08.14.2014 | Money
Curtis Arnold

Although the market for prepaid debit cards has been steadily expanding and attracting big name financial players like American Express, consumer advocates have expressed concern about a lack of regulatory oversight.

Zach Carter

How Chuck Schumer Accidentally Built The Wall Street Reform Caucus

HuffingtonPost.com | Zach Carter | Posted 08.04.2014 | Politics

DETROIT AND WASHINGTON -- They call him "Wall Street Chuck" on Capitol Hill. He has raised at least $70 million from the financial sector for the Demo...

Hunter Stuart

Debt Collection 'Factory' Preyed On Broke Americans: Lawsuit

HuffingtonPost.com | Hunter Stuart | Posted 07.15.2014 | Business

A federal watchdog is suing a collection agency that allegedly operated like a "factory" churning out lawsuits against cash-strapped borrowers, often ...

Supreme Court Limits President's Recess Appointment Power

AP/The Huffington Post | Posted 06.26.2014 | Politics

The Supreme Court ruled against President Barack Obama in National Labor Relations Board v. Noel Canning on Thursday, limiting his power to make reces...

Big Bank To Pay $1 Billion For Sketchy Mortgages

AP | By ERIC TUCKER | Posted 08.18.2014 | Business

WASHINGTON (AP) — SunTrust has agreed to pay nearly $1 billion to resolve allegations that it underwrote and endorsed faulty mortgage loans, the Jus...

Zach Carter

How House Democrats Are Caving On Key Mortgage Rules

HuffingtonPost.com | Zach Carter | Posted 06.10.2014 | Politics

WASHINGTON -- House Republican leaders Eric Cantor and John Boehner are about to secure the passage of a bill that chips away at consumer mortgage pro...

A New Breed of Prepaid Cards

Jason Alderman | Posted 08.03.2014 | Money
Jason Alderman

Everyday tasks like cashing payroll checks, paying bills, shopping online and renting a car can be much more difficult and expensive -- not to mention dangerous, if you're forced to carry large amounts of cash to pay your bills.

Shahien Nasiripour

Faithful Student Borrowers Tormented With Threats, Tears After Co-Signers Die

HuffingtonPost.com | Shahien Nasiripour | Posted 05.21.2014 | Politics

Seven borrowers who had been paying their Sallie Mae student loans on time for years were unexpectedly threatened with asset seizures after a Sallie M...

VA Releases Interim Rule On Qualified Mortgages

Chris Birk | Posted 07.15.2014 | Business
Chris Birk

Under the interim rule, all purchase and refinance loans that receive a VA guaranty would be classified as safe harbor Qualified Mortgages, except for certain VA Streamline refinance loans.

The Next Phase of Enhanced Student Loan Forgiveness: Pay as You Earn

Wendy N. Powell | Posted 07.12.2014 | Education
Wendy N. Powell

Individually, we may thrive by enhanced debt forgiveness but collectively, we retreat with considerable increases to our national debt obligation that we likely cannot afford.

Zach Carter

Elizabeth Warren: Obama Team 'Chose Wall Street Instead Of American Families'

HuffingtonPost.com | Zach Carter | Posted 05.06.2014 | Politics

WASHINGTON -- Sen. Elizabeth Warren (D-Mass.) discussed her relationship with President Barack Obama in an interview Monday with HuffPost Live, faulti...

Elizabeth Warren's Moment

Brent Budowsky | Posted 06.30.2014 | Politics
Brent Budowsky

Warren knows from experience and writes with warmth that every day in America there are boys and girls asking moms and dads why the family car is gone, why the family home was taken away, why Mom or Dad has lost a job, and why so Americans live from paycheck to paycheck, desperately struggling to make ends meet.

Shahien Nasiripour

Top Treasury Official Calls Out Education Department Over Student Loans

HuffingtonPost.com | Shahien Nasiripour | Posted 04.30.2014 | Politics

A top Treasury Department official on Tuesday challenged the Department of Education and its contractors over how they handle borrowers struggling wit...

Shahien Nasiripour

Sallie Mae Under Fire For Death-Induced Defaults

HuffingtonPost.com | Shahien Nasiripour | Posted 04.25.2014 | Politics

In the nearly seven years he'd been paying off his student loans, Tom Cimochowski had never sent a late payment to Sallie Mae. But in February, one of...

Demystifying Credit Scores

Jason Alderman | Posted 06.23.2014 | Business
Jason Alderman

Fortunately, if your credit score has taken a hit, you can initiate several actions that will begin improving it almost immediately. Just be aware that it can take many years to recover from severe credit-damaging situation such as bankruptcy or foreclosure.

Financial Justice: The People's Campaign to Stop Lender Abuse by Larry Kirsch and Robert N. Mayer

John Atlas | Posted 06.22.2014 | Books
John Atlas

"Financial Justice" is the untold story of how a diverse group of progressive organizations took on the powerful financial lobby, pushed Congress to create a strong new consumer protection agency, and against the odds, and won.

Student Loan Borrowers Struggle When Co-Signers Die Or Go Bankrupt

Reuters | Posted 06.21.2014 | Business

WASHINGTON, April 22 (Reuters) - The U.S. consumer financial watchdog warned on Tuesday that some student loan borrowers could be thrown into defaul...

Michael McAuliff

Elizabeth Warren's New Book Skewers The White House Boys Club

HuffingtonPost.com | Michael McAuliff | Posted 04.18.2014 | Politics

WASHINGTON -- Sen. Elizabeth Warren's new book skewers the boys club who basically ran the nation's fiscal policy in the early days of the Obama admin...

Shahien Nasiripour

Sallie Mae Cheated Soldiers On Federal Student Loans, Government Investigators Find

HuffingtonPost.com | Shahien Nasiripour | Posted 04.17.2014 | Politics

Federal investigators have uncovered evidence that Sallie Mae cheated active-duty soldiers on federal student loans, according to people familiar with...

Protecting You From Credit Report Errors, Unreliable Scores

Pamela Banks | Posted 06.14.2014 | Business
Pamela Banks

Aleta from Mena, Arkansas, has had a hard time getting a decent rate on a car loan all because of a mistake on her credit report. The problem started...

Wall Street Should Disclose Its Think Tank Contributions

Sen. Elizabeth Warren | Posted 06.01.2014 | Politics
Sen. Elizabeth Warren

Wall Street banks have the right to express their views to lawmakers and regulators through lobbying, but the law is clear: If they want to influence lawmakers, they must disclose their lobbying expenditures.

New Mortgage Rules Protect Against Risky Loans

Jason Alderman | Posted 05.26.2014 | Business
Jason Alderman

Good news for people shopping for a mortgage -- and for current homeowners facing foreclosure because they can no longer afford their home loan: New mortgage regulations recently took effect and they provide a slew of new rights and protections for consumers.

A Fresh Reminder To Never, Ever Take Out A Payday Loan

The Huffington Post | Ben Hallman | Posted 03.27.2014 | Business

There's never been much question as to whether taking out a payday loan is a sound financial decision. The short-term loans come with extremely high i...

Directly Destroying Democracy

Leo W. Gerard | Posted 05.24.2014 | Politics
Leo W. Gerard

The rich can buy more of everything. More food. More cars. More houses. More vacations. More boats. But for a democracy to function properly, they should be forbidden from buying more votes.