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Consumer Financial Protection Bureau

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.

This GOP Rep May Have Spoken Too Soon On Credit Card Fraud

The Huffington Post | Chris Gentilviso | Posted 03.13.2014 | Politics

Two months after 70 million Americans were hit by a Target data breach, one member of Congress is grappling with his own credit card issue. Last w...

Debt Collectors Targeting Members Of The Armed Services

Center for Public Integrity | Daniel Wagner | Posted 03.11.2014 | Politics

By Daniel Wagner Center for Public Integrity Debt collectors are targeting members of the Armed Services by calling their superior officers, threa...

Friday Talking Points -- Republicans' Foot-Shooting Party

Chris Weigant | Posted 04.30.2014 | Politics
Chris Weigant

Even when Republicans weren't shooting at their own feet this week, it appears they were conducting a circular firing squad instead. The 2014 campaign, in other words, is off to a raucous start... and it's only February.

Foreign Money Transfers Just Got Safer

Jason Alderman | Posted 04.28.2014 | Business
Jason Alderman

While the new regulations are certainly welcome, they don't go far enough when it comes to helping customers compare the net costs of making money transfers at different vendors.

Shahien Nasiripour

Sallie Mae's Woes Grow

HuffingtonPost.com | Shahien Nasiripour | Posted 02.21.2014 | Politics

The Illinois attorney general has launched a broad probe into Sallie Mae, leading a coalition of state prosecutors investigating whether the embattled...

A Guide to Managing Someone Else's Finances

Jason Alderman | Posted 03.24.2014 | Business
Jason Alderman

Anyone who's ever been asked to step in and manage their parents' or someone else's personal finances can tell you that it's an awesome responsibility -- and by "awesome," I don't mean "totally cool." It's more like "inspiring an overwhelming feeling of fear."

New Rules Could Change Your Jumbo Mortgage Options

realtor.com | Posted 03.23.2014 | Money
realtor.com

Jumbo loans - high dollar loans typically starting at $417,000 in most areas or as high as $625,501 in higher-cost markets - will see a lot of changes in 2014.

Shahien Nasiripour

Sallie Mae Expects $70 Million Hit Off Investigations Into Wrongdoing

HuffingtonPost.com | Shahien Nasiripour | Posted 01.25.2014 | Politics

Sallie Mae, the nation's largest student loan company, said it expects to spend $70 million to deal with a torrent of government probes into its busin...

Elizabeth Warren: New Mortgage Rules 'Protect Consumers From Being Tricked'

The Huffington Post | Eugene Mulero | Posted 01.23.2014 | Politics

Sen. Elizabeth Warren (D-Mass.) praised the Consumer Financial Protection Bureau's new slate of mortgage rules on Tuesday, saying they will curb shady...

What the New Qualified Mortgage (QM) Regulations Mean for VA Loans

Chris Birk | Posted 03.10.2014 | Money
Chris Birk

Service members, veterans and military families across the country are starting to worry about how these changes and how this new classification of mortgages might impact their ability to use their VA home loan benefits. Here's the good news: You have nothing to worry about.

If Borrowers Owned Their Appraisals, They Could Shop for a Mortgage Effectively

Jack M. Guttentag | Posted 03.05.2014 | Politics
Jack M. Guttentag

The difficulties borrowers face when trying to shop for a mortgage could be fixable by changing the disclosure rules, but certain market practices also need to be changed. The key to a fix is to make appraisals portable.

Will Borrowers Now Be Protected Against Unjustified Price Increases?

Jack M. Guttentag | Posted 02.26.2014 | Money
Jack M. Guttentag

The applicant who sent the email wanted an answer to one simple question: Were the changes justified or not?

Tyler Kingkade

Financial Institutions Pressured To Reveal Details On Controversial Campus Debit Cards

HuffingtonPost.com | Tyler Kingkade | Posted 01.23.2014 | College

The Consumer Financial Protection Bureau urged a number of financial institutions on Tuesday to disclose how much money they are paying colleges and u...

Elizabeth Warren Tames a Corporate Psychopath

Mike Frenkel | Posted 02.01.2014 | Business
Mike Frenkel

I expected one of those, "We're sorry" replies from the CFPB. Instead, a mere four days after I had filed my complaint, I received a written apology from the bank, a waiver of all penalty fees and the promise to "escalate this matter for further policy review."

Educational Opportunity? Globe University's Murky Student Loan Partnership With Debt Collection Agency

Kyle McCarthy | Posted 01.23.2014 | Business
Kyle McCarthy

For years, the EdOp Loan has been marketed as one of the "primary sources of financial aid" and carried an 18% interest rate. As I mentioned in my previous article, the mailing address listed on EdOpLoan.com happens to be the same mailing address for American Accounts and Advisers, a debt collection agency.

Shahien Nasiripour

The Government Doesn't Understand Student Debt

HuffingtonPost.com | Shahien Nasiripour | Posted 11.19.2013 | Politics

The lack of reliable data on the $1.2 trillion student debt market may be hampering federal officials’ understanding of how student debt threatens e...

We Need Warren, not 'Billary' in 2016

Jane White | Posted 01.23.2014 | Politics
Jane White

When it comes to the presidency we need someone who works for her constituents. Someone like Sen. Elizabeth Warren, who is not only uncorrupt but the brains behind the Consumer Financial Protection Bureau.

Shahien Nasiripour

Biggest Student Lender Faces More Trouble

HuffingtonPost.com | Shahien Nasiripour | Posted 10.29.2013 | Politics

Sallie Mae on Monday disclosed new federal probes targeting possible violations of consumer protection laws -- a sign that Washington is ramping up s...

Watchdogging Private Student Loan Companies

Ethan Senack | Posted 01.23.2014 | College
Ethan Senack

The Consumer Financial Protection Bureau's public complaints database levels the playing field for private student loan borrowers -- giving aggrieved private student borrowers true negotiating strength in a financial marketplace that is tilted toward banks.

Student Loan Borrowers Complain Lenders Are Doing A Terrible Job Handling Their Debt

AP | KIMBERLY HEFLING | Posted 10.16.2013 | College

WASHINGTON -- WASHINGTON (AP) — Federal officials have received more than 3,800 complaints in the last year from borrowers of private student loans,...

Redefining Success. Putting Money Back In Its Place.

John Hope Bryant | Posted 01.23.2014 | Small Business
John Hope Bryant

For 100 years the world has been on a fairly consistent march towards more and more free enterprise, and deeper and more sharp edged caverns of capitalism. And for approximately 80 of those years, most of the developed world was not on a bad path.

Amanda Terkel

GOP's Least Favorite Projects Will Keep Running During Government Shutdown

HuffingtonPost.com | Amanda Terkel | Posted 09.28.2013 | Politics

WASHINGTON -- If Congress can't pass legislation to keep the government funded by Monday at midnight, the Smithsonian museums will close, the Centers ...

Shahien Nasiripour

Public Shaming For Big Student Loan Servicer

HuffingtonPost.com | Shahien Nasiripour | Posted 09.26.2013 | Politics

A federal consumer regulator has taken aim at the Department of Education’s preferred companies for servicing the agency’s $1 trillion in student ...

JPMorgan To Refund Over 2 Million Credit Card Customers

The Huffington Post/ Reuters | Posted 09.19.2013 | Business

WASHINGTON (Reuters) - U.S. bank regulators on Thursday ordered JPMorgan Chase & Co to correct its debt collection and other credit card procedures a...