Tag: "CFPB"

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CFPB bank mortgage reporting to Increase – impact on Small Business under review

CFPB bank mortgage reporting to Increase – impact on Small Business under review

CFPB bank mortgage reporting to Increase – impact on Small Business under review The Consumer Financial Protection Bureau announced today it wants to expand the information it collects about mortgages to make it easier for the agency – and the public – to spot discrimination, risky loans and other problems. After the nation was caught […]

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CFPB may issue rules exempting credit collections from the TCPA

CFPB may issue rules exempting credit collections from the TCPA

Could the CFPB Help Stem the Tidal Wave of TCPA Lawsuits? For the past month, the debt collection industry has been abuzz over the Consumer Financial Protection Bureau’s (CFPB) Advance Notice of Proposed Rulemaking (ANPR) for debt collection. While the stated purpose of new rules is to update the aging Fair Debt Collection Practices Act […]

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Should the Federal Reserve be audited?  It sits atop the CFPB and Quantitative Easing is drawing Strong Criticism.

Should the Federal Reserve be audited? It sits atop the CFPB and Quantitative Easing is drawing Strong Criticism.

Call Your Congressman In Favor Of Rand Paul’s Fed Audit Since Senate Majority Leader Harry Reid invoked the nuclear option, it is now significantly easier to pass nominations out of the chamber. On the same day, Janet Yellen’s nomination to chair the Federal Reserve passed the Senate Banking Committee. The Fed has been engaged in […]

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CFPB Oversight & Transparency Concerns

CFPB Oversight & Transparency Concerns

The Consumer Financial Protection Bureau (CFPB), week in review: June 17 – June 21, 2013 Partnership between CFPB and City of Boston Allows Residents Easier Access to Bureau On June 18th, the CFPB and City of Boston unveiled a partnership aimed at providing residents instant access to the CFPB by dialing the Mayor’s 24 hour […]

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CFPB Continues Data Gathering

CFPB Continues Data Gathering

Consumer Financial Protection Bureau: NSA of the Financial World While the National Security Agency’s (NSA) unconstitutional spying on Americans’ communications has been getting most of the press lately, another federal agency has been quietly — and illegally — vacuuming up Americans’ financial data: the Consumer Financial Protection Bureau (CFPB). Created by the 2010 Dodd-Frank Act, […]

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CFPB Complaint Database

CFPB Complaint Database

Consumer Financial Protection Bureau complaint data now searchable by state Today the Consumer Financial Protection Bureau (CFPB) expanded its Consumer Complaint Database to include state-by-state information. The CFPB also added complaints about money transfers and credit reporting to the database. “This data puts valuable information in the hands of consumers to help them understand what […]

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Payday Lenders CFPB guidance

Payday Lenders CFPB guidance

Consumer Financial Protection Bureau Payday and Deposit Advance Loan White Paper Gives Glimpse into Future Regulations As part of its ongoing efforts to increase and expand its supervisory role over payday and deposit advance loans, the Consumer Financial Protection Bureau (the CFPB) issued a White Paper on April 24, 2013 entitled “Payday Loans and Deposit […]

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CFPB reviewing Pre-paid Cards

CFPB reviewing Pre-paid Cards

Is that prepaid card actually a checking account? Prepaid cards are shaping up to be big business. According to the Consumer Financial Protection Bureau, a 2009 FDIC study found that nearly 10 percent of households use the cards, while the Mercator Advisory Group estimated growth to be 42 percent per year from 2010 to 2014. […]

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CFPB Call Center Compliance

CFPB Call Center Compliance – 3/26/13

The Skinny on the Consumer Finance Protection Bureau For those just tuning in, there’s a new sheriff in town: the Consumer Finance Protection Bureau (CFPB). The CFPB was created in July of 2010 as an independent bureau of the Federal Reserve System by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB has […]

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CFBP Mortgage Rules

CFBP Mortgage Rules – 2/27/13

Consumer Financial Protection Bureau lays out implementation plan for new mortgage rules The Consumer Financial Protection Bureau (CFPB) today announced a plan it will implement over the next year that focuses on the mortgage industry’s compliance with new consumer protections that go into effect in January 2014. “Our plan is to work with the mortgage […]

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Hungry for Income, Banks Flirt With Payday Lending

FDIC and CFPB scrutinize Bank Payday Lending – 11/5/12

Hungry for Income, Banks Flirt With Payday Lending Seeking new income after federal rules limited fees from overdrafts and debit cards, Wells Fargo (WFC), U.S. Bancorp (USB), and other big banks are pitching short-term, high-cost loans that resemble the payday loans more commonly offered by strip-mall storefront operations. At least five banks are offering the […]

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Debt Collectors Face a New Watchdog

Dodd Frank Impact on Debt Collectors – 10/28/12

Debt Collectors Face a New Watchdog For the first time, debt collectors have a federal regulator. Starting on Jan. 2, the Consumer Financial Protection Bureau will supervise companies that collect at least $10 million a year in consumer debts. In the past, debt collectors faced some supervision at the state level and consumers could complain […]

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On CFPB's First Birthday, Watchdog Is Still Vulnerable - 7/24/12

On CFPB’s First Birthday, Watchdog Is Still Vulnerable – 7/24/12

On CFPB’s First Birthday, Watchdog Is Still Vulnerable To Possible Dodd-Frank Repeal   The CFPB is the brainchild of Harvard Law School Professor Elizabeth Warren, who now is the Democratic challenger against U.S. Senator Scott Brown in Massachusetts. The Consumer Financial Protection Bureau will have its first birthday on Saturday, but we’re only cautiously celebrating. […]