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Consumer Financial Protection Bureau

Debt Collection Reforms Are Past Due

Pamela Banks | Posted 04.09.2013 | Business
Pamela Banks

Buying and selling debt has become a big business in the U.S. The FTC found that debt buyers typically purchase portfolios of debt for only four cents on the dollar, on average, and then collect on those debts for the full face value -- which nets them a huge profit.

Qualified Mortgages From the CFPB: Buyer Beware!

D. Sidney Potter | Posted 02.04.2013 | Business
D. Sidney Potter

Misrepresenting oneself to oneself has to be the lowest form of self-flattery. Not only does it breach the mother of all truism -- "know thyself" (wri...

Tax Relief Scams: Where Crime Does Pay

Don McNay | Posted 04.08.2013 | Business
Don McNay

I saw a "pat on the back" news release from the Federal Trade Commission today: "FTC Settlement: Tax Relief Scammers Agree to Pay More Than $15 Million." If you go down a couple of sentences, it notes that the scheme bilked consumers out of $100 million. Crime does pay.

What's With This Hill-Billy Fixation? Warren Should Be the Next President

Jane White | Posted 04.07.2013 | Politics
Jane White

For the life of me I can't fathom what these folks are excited about. Don't get me wrong, as a feminist I've always celebrated the accomplishments of the superior sex but the inconvenient truth is that she's not that impressive.

Jennifer Bendery

Mitch McConnell, 42 Republicans Vow To Block CFPB Nominee Without Agency Changes

HuffingtonPost.com | Jennifer Bendery | Posted 02.01.2013 | Politics

WASHINGTON -- Get ready for a replay of last year's bitter fight over confirming Richard Cordray to lead the Consumer Financial Protection Bureau. ...

GOP Senators Vow To Block Another Obama Nominee

AP | JIM KUHNHENN | Posted 04.03.2013 | Politics

WASHINGTON — Renewing a 3-year-old fight over bank oversight, Senate Republicans said Friday they will oppose President Barack Obama's nominee t...

Rein in Wall Street, Say Small Business Owners

John Arensmeyer | Posted 02.01.2013 | Small Business
John Arensmeyer

Considering the oft-politicized nature of this topic, it's noteworthy that not only was this a majority Republican sample, but more than seven in 10 Republican owners believe we need tougher rules for holding Wall Street accountable. Entrepreneurs aren't politically minded, they're business minded.

Michael McAuliff

Republicans Try To Defund CFPB, Labor Board Actions

HuffingtonPost.com | Michael McAuliff | Posted 02.01.2013 | Politics

WASHINGTON -- Republican senators are moving to target the Consumer Financial Protection Bureau as well as the National Labor Relations Board in the w...

Federal Agency Investigating College Campus Banking Services

The Huffington Post | Tyler Kingkade | Posted 02.19.2013 | Business

The Consumer Financial Protection Bureau announced Thursday it is opening an investigation into whether students are actually benefiting from banking ...

'The Biggest Privacy Breach In Our Time'

The Huffington Post | Caroline Fairchild | Posted 01.30.2013 | Business

Financial information is considered by most to be very private, but that isn’t stopping one credit reporting agency from sharing it without your kno...

Who's Behind the Latest Bank Giveaway?

Adam Levin | Posted 03.26.2013 | Business
Adam Levin

After raising hopes that some defrauded homeowners may finally see justice, the agency's bungled investigation and rushed settlement only managed to twist the knife deeper. Simply put, it's a travesty and still, no one goes to jail.

Is a Housing Industry Recovery Just Around the Bend?

Doug Lebda | Posted 06.25.2013 | Business
Doug Lebda

The QM rules, which will go into effect January 2014, represent a reasonable and responsible move by the CFPB to reduce risky lending. The rules are intended to further stabilize the lending environment and foster a more expedient housing recovery. Let me break out some of the CFPB's key requirements for a General Qualified Mortgage

Wall Street Keeps Winning: Can It Change?

Mike Lux | Posted 03.13.2013 | Politics
Mike Lux

If people steal money and commit fraud and never have to go to jail or pay any real penalty, they generally keep doing it. It is equally true of street criminals and Wall Street bankers.

No More Liar Loans Or Other Dreadful Mortgage Products, Regulators Say

Ben Hallman | Posted 03.12.2013 | Business
Ben Hallman

It took awhile, but more than five years after a wave of failing subprime loans wrecked the American economy, regulators have instituted new rules tha...

Thanks to Chris Dodd, Dodd-Frank Is Toothless and the Revolving Door Keeps Spinning

Jane White | Posted 03.11.2013 | Business
Jane White

As a result of this lack of courage to tackle the toxic effect of money on politics, expect that taxpayers will once again be on the hook for even more reckless banks.

Zach Carter

New Senator Takes Cue From Elizabeth Warren

HuffingtonPost.com | Zach Carter | Posted 01.23.2014 | Politics

WASHINGTON -- Freshman Sen. Angus King (I-Maine) joined Sen. Elizabeth Warren (D-Mass.) this week in the fight to rein in the financial establishment....

Fixing Errors on Your Credit Report

Jason Alderman | Posted 02.18.2013 | Money
Jason Alderman

If you've ever tried to remove inaccurate or fraudulent information from your credit report and gotten the runaround, take heart: The Consumer Financial Protection Bureau is now on the case.

Why Your Credit Score May Be Wrong

The Huffington Post | Caroline Fairchild | Posted 12.14.2012 | Money

If you have evidence proving there's a mistake on your credit report, good luck getting someone to see it. The Consumer Financial Protection Bureau...

This Woman Couldn't Believe What She Found On Her Credit Report

The Huffington Post | Posted 12.12.2012 | Money

One woman’s horror story is enough to make you check your credit report as often as you check your email. Heather Rose, a mother of three who liv...

There's a Chance Your Credit Report Is Wrong and the New Consumer Agency Is Hamstrung

Jane White | Posted 02.05.2013 | Business
Jane White

Why don't we have tougher laws that prohibit banks and credit card companies from fabricating negative credit scores so that they can charge higher interest rates and laugh all the way to the bank?

Changes to CFPB Guidelines on Remittances Keep Responsible Providers in the Game

Janis Bowdler | Posted 01.30.2013 | Business
Janis Bowdler

One of the first moves by the newly minted Consumer Financial Protection Bureau (CFPB) was to issue a rule implementing new protections for money sent to loved ones abroad, known as remittances.

Wall Street To Obama: Now That You've Won, Let's Be Friends Again

Reuters | Posted 01.06.2013 | Business

* Obama expected to name key financial regulatory heads * Bank lobbyists to focus on regulators as well as issues * Oppo...

Christina Wilkie

Wall Street Looking At A Blue Night

HuffingtonPost.com | Christina Wilkie | Posted 11.06.2012 | Business

Through much of the campaign, major Wall Street banks have nursed visions of a Republican majority capturing control of the Senate and then weakening ...

Oversight of Credit Agencies Long Overdue

Jimmy Dahroug | Posted 01.06.2013 | Money
Jimmy Dahroug

There is nothing wrong with credit agencies making a profit. They are private businesses. Yet without adequate oversight, these agencies have little incentive to ensure the accuracy of consumer credit reports.

It's Time to Make It Easier to Move Your Money

Pamela Banks | Posted 01.23.2014 | Money
Pamela Banks

Consumer frustration has only grown in the year since Bank Transfer Day as bank fees have continued to rise. It's time to make it easier for consumers to move their money so they have a real choice when it comes to where to bank.