Some Lesser-Known Parts of Dodd-Frank Reform Could Affect You

Personal Finance

Some Lesser-Known Parts of Dodd-Frank Reform Could Affect You

Some Lesser-Known Parts of Dodd-Frank Reform Could Affect You

We’ve done a bunch of stories about the Consumer Financial Protection Bureau, which officially opened its doors to the public last Thursday. But there are many more aspects of the Dodd-Frank Wall Street reform act that also took effect last week, just one year after President Obama signed the bill into law. For a good,… Read More

Regulators Have Missed Majority of Dodd-Frank Reform Deadlines

Personal Finance

Regulators Have Missed Majority of Dodd-Frank Reform Deadlines

Regulators Have Missed Majority of Dodd-Frank Reform Deadlines

Federal regulators have missed 80% of their deadlines for implementing the sweeping Dodd-Frank Wall Street Reform and Consumer Protection Act, according to a recent report by the law firm Davis Polk. Of the 163 rules that the government was required to write by July 21, 130 remain unfinished. The law has come under fire in… Read More

Consumer Watchdog Says You Should Be Able to Sue Your Credit Card Company

Credit Cards

Consumer Watchdog Says You Should Be Able to Sue Your Credit Card Company

Consumer Watchdog Says You Should Be Able to Sue Your Credit Card Company

For years, consumer advocates have claimed that binding arbitration clauses have quietly but dramatically limited consumers’ ability to seek justice and have their day in court. On Tuesday, the Consumer Financial Protection Bureau released results of a broad study that appears to support those claims. While a majority of banking customers are subject to arbitration… Read More

What Happens If I Swipe My Debit Card as ‘Credit’?

Personal Finance

What Happens If I Swipe My Debit Card as ‘Credit’?

What Happens If I Swipe My Debit Card as ‘Credit’?

It’s a question we’ve all heard when shopping: “Credit or debit?” It seems straightforward, just the cashier asking you what type of payment card you’re using, but there’s actually a lot more history to that question than you might think. Debit and credit transactions are processed differently: Here’s how MasterCard explained it in an emailed… Read More

We Need a New Way to Evaluate Student Lenders

Students

We Need a New Way to Evaluate Student Lenders

We Need a New Way to Evaluate Student Lenders

Are private education lenders getting a bad rap? After reading the Wall Street Journal’s recent profile on Rohit Chopra, the Consumer Financial Protection Bureau’s student-loan ombudsman, one gets the distinct impression that this might be the case. Apparently, this subset of the financial services industry takes exception to being called out by him for dragging… Read More

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