April 4, 2013 |
Got a beef with your mortgage company or loan servicer? Lots of people do, and thousands of them have been turning to a federal complaint hotline for action — or at least a quick response from the lender. The Consumer Financial Protection Bureau opened up its hotline files to public view last week, and the contents are startling: Though the complaint window is open for various financial disputes — credit cards, student loans, credit reporting agencies, bank loans to consumers — by far the biggest source of complaints is home mortgages.
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.
March 25, 2013
Associate Director of Consumer Education and Engagement, Consumer Financial Protection Bureau Gail Hillebrand serves as the Associate Director of the Consumer Education and Engagement Division of the Consumer Financial Protection Bureau. Within the Education and Engagement division are the Office of Financial Education, the Engagement Office, the Office of Service Member Affairs, the Office for the Financial Protection of Older Americans, the Office of Students which includes the Student Loan Ombudsman, and the Office of Financial Empowerment.
March 19, 2013 |
Democrats on the Senate banking committee on Tuesday approved the nomination of Richard Cordray to head the Consumer Financial Protection Bureau — just as they did nearly two years ago. Clearing the committee, even by a slim 12-10 margin, was a minor feat. The real hurdle will come on the Senate floor. Cordray's nomination remains at the center of a larger political fight over the structure of the watchdog agency and, although the Democrats have 55 seats in the Senate, a single Republican could filibuster a final vote.
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.
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.
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.
December 13, 2012 |
Anyone who has ever applied for a loan or tried to rent an apartment knows the importance of having a good credit score. Yet there is little understanding of how those scores are devised. A new paper released Thursday by the Consumer Financial Protection Bureau lifts the veil off of credit reporting, revealing that the way consumers use the plastic in their wallets weighs heaviest on their scores. While that's not too surprising, considering that Americans own nearly 610 million credit cards, the finding does cast new light on the gravity of failing to keep up with those accounts.
November 16, 2012 |
There can be unseemly exposure of the mind as well as of the body, as the progressive mind is exposed in the Consumer Financial Protection Bureau (CFPB), a creature of the labyrinthine Dodd-Frank legislation. Judicial dismantling of the CFPB would affirm the rule of law and Congress's constitutional role. The CFPB's director, Richard Cordray , was installed by one of Barack Obama's spurious recess appointments when the Senate was not in recess. Vitiating the Senate's power to advise and consent to presidential appointments is congruent with the CFPB's general lawlessness.
November 9, 2012 |
BOSTON — On the chilly morning after her election to the U.S. Senate , Elizabeth Warren greeted ecstatic commuters and faced the next inevitable question. How would the new, scholarly heroine of the political left, who once spoke of her willingness to leave "blood and teeth on the floor" in her fight for consumer protection, position herself at a moment when American politics demands both an unyielding brawler and bipartisan compromise? Warren's first post-election answer left plenty of room for speculation.