March 25, 2013
Director, National Priorities, Consumer Action Consumer Action's director of national priorities and one of the organization's chief spokespersons, Linda Sherry joined the San Francisco-based national consumer education and advocacy group in 1994 from a background as a weekly newspaper reporter. Sherry, a nationally recognized consumer advocate, is an expert on credit and financial services pricing and practices and consumer rights. She responds regularly to requests for interviews and background information about consumer protection issues from the...
January 24, 2013 |
President Obama on Thursday re-nominated Richard Cordray to head the Consumer Financial Protection Bureau, all but assuring a fight with Senate Republicans who oppose the agency's sweeping powers to regulate the financial services industry. Cordray, 53, took the helm of the consumer agency in late 2011 through a recess appointment . His term expires at the end of the year unless he wins approval. But Senate staffers say Obama's end run has poisoned the waters for Cordray.
September 13, 2012 |
Richard Cordray, director of the Consumer Financial Protection Bureau, faced renewed questions Thursday about the legitimacy of his agency. Cordray, in a semiannual report to Congress, touted the bureau's accomplishments in drafting rules to fix mortgage servicing and supervising the previously unregulated non-bank financial firms. He added that the bureau is working on rules to bring greater transparency to prepaid debit cards and is fine-tuning its consumer complaint database — as of Sept.
August 10, 2012 |
Buying a house is often a stressful event. Getting a mortgage loan is sometimes even worse, especially when you don't fully understand what the entire process will cost, or even how it works. In an effort to reduce consumer confusion as well as the reams of paper involved in a real estate settlement transaction, the new Consumer Financial Protection Bureau (CFPB) has proposed rules aimed at simplifying and improving the disclosure forms required for mortgage transactions. Using the name Know Before...
July 9, 2012 |
The federal consumer watchdog agency on Monday proposed banning several controversial mortgage fees and unveiled new disclosure forms intended to help borrowers better understand the terms of their home loans. The moves come as the Consumer Financial Protection Bureau approaches its first anniversary. During a speech in Las Vegas on Monday, CFPB Director Richard Cordray highlighted abuses in the mortgage market and said restoring trust in the industry was one of the key drivers for creating...
May 22, 2012 |
The new federal consumer watchdog agency is considering drafting new rules governing transparency and safety in the rapidly growing market for prepaid cards . Consumer Financial Protection Bureau Director Richard Cordray said the cards have fewer regulatory protections than bank accounts and debit cards. The agency said it will focus rule-making on three key areas: disclosure of fees and terms, liability for unauthorized transactions and niche product features, such as overdrawing an account.