July 26, 2011 |
Raj Date, a top deputy to Elizabeth Warren at the Consumer Financial Protection Bureau, will take over day-to-day operations of the new watchdog agency when she departs at the end of this month, Treasury officials announced Tuesday. Warren has served since September overseeing the creation of the bureau, which officially opened its doors last week. She hired scores of staffers, met with bankers and lawmakers across the country, and defended the agency to a skeptical financial industry and Republicans on Capitol Hill.
December 21, 2011
I sympathize with Carlton S. Courtney [ letters , Dec. 16] regarding his difficult experience with mortgage modification. It is certainly true that a strong Consumer Financial Protection Bureau could have helped prevent some of our recent economic problems. But I think the complaint that "our federal government has demonstrated an inability to regulate the mortgage industry, with its failure to appoint a head of the newly established ... bureau" does not place the blame where it belongs.
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 national and local media, Congress and federal regulators.
January 4, 2012 |
CLEVELAND — In a bold act of political defiance, President Obama installed Richard Cordray as head of a new consumer watchdog agency Wednesday, bypassing Republican opposition in the Senate that derailed his nomination last month. Obama cast the move as an effort to protect the interests of middle-class Americans who have suffered as a result of the Great Recession, which stemmed in part from abuses in the financial system. "I will not stand by while a minority in the Senate puts party ideology ahead of the people they were elected to serve," Obama told an enthusiastic crowd at Shaker Heights High School here.
June 14, 2012 |
The Consumer Financial Protection Bureau is seeking public input for a new effort to prevent scams targeted at the elderly. The CFPB is asking the public about the best way to identify legitimate financial advisers and how effective and easy-to-understand financial counseling is for seniors, among other issues. The bureau is also trying to gather information about scams against veterans. "The amount of money stolen from seniors has risen sharply in recent years," CFPB director Richard Cordray said in a prepared statement.
March 10, 2013 |
Federal spending cuts have the Washington region reeling with alarming job-loss projections. But there is a growth area where the government will actually need more qualified professionals: Financial regulation. The 2010 Dodd-Frank Wall Street Reform Act has altered the responsibilities of the federal government, creating a new demand for talent in the region's financial regulatory centers. Here's a snapshot of the newly mandated agencies established to execute the legislation's 2,300 pages of new rules and directions: The Consumer Financial Protection Bureau regulates consumer financial services, such as online banking, credit unions and mortgages as an independent office in the Federal Reserve.
April 26, 2013
This is part of the Post Live panel discussion ‘Kitchen Table Economics,' held April 16 at The Washington Post. View other videos from the discussion here. Gail Hillebrand Associate director of consumer education and engagement, Consumer Financial Protection Bureau One of the big things for kids to learn is, is it something I need or something I want, and is this something as a family we need or we want? Because it turns out all that conversation you heard on the first panel about "pay yourself first" is partly about being able to distinguish between the things we've got to have for our family and the things we'd really like to have and we're going to work toward.
September 17, 2013 |
The Democratic Party's romance with Wall Street may finally be breaking up. In the past 10 days, a diverse group of Democratic senators scuttled Larry Summers's candidacy for Federal Reserve chair and New York Democrats voted for the mayoral candidate whose campaign was an attack on Michael Bloomberg's care and feeding of the super-rich at the expense of the rest of the city. Former commerce secretary (and JP Morgan Chase executive) William Daley's surprise withdrawal from the Illinois Democratic gubernatorial primary is one more indication of Wall Street's diminished sway.
January 9, 2013 |
It is one of the most common sense regulations in the works by the government's new consumer watchdog, but one that stands to radically change the nation's housing market: the qualified mortgage rule. On Thursday, the Consumer Financial Protection Bureau will finalize the criteria that lenders will use to determine whether a borrower can repay a home loan. The rule is aimed at protecting consumers from some of the worst abuses of the mortgage meltdown but could make it more difficult or expensive for some home buyers to get a loan.
June 21, 2012 |
Federal financial regulators on Thursday moved to tighten oversight of how mortgage companies handle loans for servicemembers who are underwater and forced to transfer to new bases. In new guidance, they spelled out several practices they would consider unfair, deceptive or abusive. They include failing to notify service members of assistance programs or requiring them to waive their rights to special protections for military before offering help. The regulators said they would also crack down on mortgage servicers who advise military homeowners to stop paying their mortgages in order to qualify for financial assistance programs.