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

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

At 3 Years Old, the CFPB Gives Americans a Soapbox

Personal Finance

At 3 Years Old, the CFPB Gives Americans a Soapbox

At 3 Years Old, the CFPB Gives Americans a Soapbox

America’s newest federal agency just turned 3 years old, and it continues to be the preferred punching bag for everyone from the American Bankers Association to politicians like Rep. Spencer Bachus (R-Ala.), who once famously and proudly proclaimed that, “Washington and the regulators are there to serve the banks.” The CFPB, on the other hand,… Read More

CFPB Goes After Foreclosure Relief Scams

Mortgages

CFPB Goes After Foreclosure Relief Scams

CFPB Goes After Foreclosure Relief Scams

Today the Federal Trade Commission, Consumer Financial Protection Bureau and 15 states announced a slew of lawsuits against companies and individuals for allegedly misleading homeowners and illegally charging them for foreclosure relief that never came. The lawsuits are result of “Operation Mortgage Mismodification,” a joint investigation effort that revealed scams that cost consumers millions of… Read More

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