We posted earlier today on the final rule issued today by the Department of Defense to protect service members from predatory lending. See here and here. The final rule is here. The DoD statement is here. The Consumer Financial Protection Bureau, one of the agencies charged with enforcing the Military Lending Act, issued a supportive […]
Author Archives: Allison Zieve
Public Citizen is also speaking today about the fifth anniversary of the Dodd-Frank Act: On the fifth anniversary of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, key provisions of the law still have not been implemented or are inadequately enforced, a new Public Citizen report (PDF) shows. The report, “Dodd […]
The Hill reports today: President Obama on Tuesday will unveil new rules designed to protect service members and their families from predatory lenders. In his speech to the Veterans of Foreign Wars convention in Pittsburgh, the president will detail how the Defense Department is broadening the scope of the Military Lending Act (MLA). The law, […]
The fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act prompted several articles today. Here here are few. 5 Numbers To Know As Dodd-Frank Wall Street Reform Celebrates Its 5th Birthday From Think Progress: Tuesday marks the five-year anniversary of the Dodd-Frank overhaul of America’s money business. The law is officially old […]
The Dodd-Frank Wall Street Reform and Consumer Protection Act turns five years old this week. The Wall Street Journal interviewed the Act's sponsors, former Sen. Chris Dodd and former U.S. Rep. Barney Frank, about the law. Excerpts are here.
The New York Times weighs in on pending amendments to the Food, Drug, and Cosmetic Act: A bill passed by the House and ostensibly designed to streamline the Food and Drug Administration is loaded with bad provisions and may not even be necessary. The Senate should either eliminate or rewrite the flawed provisions before passing […]
The New York Times reports: The Treasury Department has begun a study of online marketplace lenders, as the federal government looks to determine whether regulations are keeping up with the rapidly growing industry. As many traditional banks have retreated from making small loans to businesses and consumers, a flood of online lenders have filled the […]
The blog Credit Slips reports today: Yesterday, Judge Amy Totenberg of the Northern District of Georgia issued a very cogent 70-page opinion in the case of the CFPB v. Frederick Hanna & Associates, a large collection law firm with offices in Georgia, Florida, and South Carolina. The opinion denies Hanna's motion to dismiss in its […]
The Wall Street Journal reports today that bankers and housing advocates are teaming up in effort to ease mortgage access for borrowers with weaker credit. A rare coalition of mortgage lenders and left-leaning consumer advocates are calling on the Obama administration to ease up on lawsuits they say are driving banks away from making loans […]
The Hill reports: The Consumer Financial Protection Bureau (CFPB) has returned more than $10 billion to consumers who were scammed since the watchdog agency opened its doors four years ago. CFPB Director Richard Cordray revealed the results of the relief the agency has provided to more than 17 million consumers on Wednesday in his semi-annual […]