The Wall Street Journal reports that Mick Mulvaney at the Consumer Financial Protection Bureau will lift the freeze on the CFPB’s collection of private consumer data, which helps its examiners oversee financial institutions. The full article is here.
Author Archives: Allison Zieve
In April, payday lenders sued the Consumer Financial Protection Bureau over the payday lending regulation — a rule that provides borrowers with various protections to avoid the cycle of debt too-often associated with payday lending. Yesterday, in a joint filing, the CFPB and the payday lenders together asked the court to stay the litigation while […]
"Salaried managers and assistant managers at the big-box home improvement retailer are being required to enter binding arbitration agreements under the threat of losing their valuable bonuses, according to a copy of the contract obtained by HuffPost.By signing the contract, managers agree they won’t take Lowe’s to court with any claims or join in class-action […]
AP reports that a federal court in California has ruled that the Education Department violated privacy laws with regard to students defrauded by the Corinthian for-profit college chain. "In a break with Obama administration policy, Education Secretary Betsy DeVos announced in December that some students cheated by the now-defunct schools would only get a part […]
This article from the American Banker discusses Acting Director Mulvaney's intention to re-examine how the Consumer Financial Protection Bureau enforces the Equal Credit Opportunity Act, which prohibits discrimination in lending. "Mulvaney's comments suggest the CFPB may make it harder for protected groups, including minorities and women, to claim they were adversely impacted by discriminatory practices. […]
A strong editorial from the New York Times today about the failure of the Department of Education to protect students from predatory colleges and the House of Representative's bill to make the situation worse, here.
In a 5-4 opinion this morning, the Supreme Court continued its string of pro-arbitration decisions. In Epic Systems v. Lewis, the Court held that arbitration agreements that ban collective proceedings do not violate the federal labor laws’ protection of concerted worker action. Instead, the Court held, the Federal Arbitration Act requires enforcement of those bans […]
The Vatican called for "a new regulation of financial activities" in on Thursday a broad and harsh critique of the international financial system that emphasized the need for higher ethical standards since the housing market crash in the last decade. The new document released by the Vatican, approved by Pope Francis, calls out the post-2008 […]
The Senate today approved a resolution to nullify the Federal Communications Commission's decision to undo the net neutrality rule.The House, however, is not expected to take up the resolution. NPR has the story, here.
The New York Times reports that members of a special team at the Education Department that had been investigating widespread abuses by for-profit colleges have been marginalized, reassigned or instructed to focus on other matters, according to current and former employees. The unwinding of the team has effectively killed investigations into possibly fraudulent activities at […]