Amelia O’Rourke-Owens has written Tearing Holes in Consumer Protection, Democracy’s Safety Net. Or: 2-4-6-8, Dodd-Frank is pretty great! 3-5-7-9, policymakers must save the CFPB just in time! Here’s the abstract: Financial protection laws safeguard all individuals regardless of wealth, race, or age. Indeed, they impact nearly every person living in the United States, as it’s impossible […]
Category Archives: Consumer Financial Protection Bureau
. . . February 24 at 2:00 p.m. Eastern.
As we have reported in the past, the Dodd-Frank Act requires that the CFPB’s director “shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services and the Committee on Energy and Commerce of the House of Representatives at semi-annual hearings.” But it appears that Acting Director […]
Several states have adopted laws creating Property Assessed Clean Energy (PACE) financing systems for certain residential energy and home improvement projects. Under these programs, a homeowner borrows money to finance the project, and the loan is repaid through an assessment on the homeowner’s property tax bill. The lender’s lien generally has priority over mortgage liens, […]
Here. Here’s an excerpt from the story (not the report itself) about an omitted section: The college pricing section focuses on the role universities themselves play in the student loan crisis. The sticker price for college tuition has risen at more than double the rate of inflation since the year 2000. Most students don’t pay […]
Here, by Kate Berry (behind paywall but available on Lexis). Excerpt: Last month, District Court Judge Amy Berman Jackson ruled that Vought‘s refusal to request funding for the CFPB violates an existing injunction. She found that the combined earnings of the Fed means “everything the Federal Reserve earns.” Her order made it clear that a failure to seek […]
The Equal Credit Opportunity Act bars discrimination in consumer lending on the basis of sex but does not explicitly apply to sexual orientation or gender identity, as some state laws do. Back in 2021, after the Supreme Court’s decision in Bostock v. Clayton County interpreting Title VII, the employment discrimination statute, to forbid such discrimination, […]
Here. I guess it’s hard to write reports when you tell your staff to stand down. As might have been expected, it’s very critical of the Biden-Chopra CFPB, using words like shameful, overreach, and weaponization.
Regular readers of the blog will know that the Biden CFPB took the position that discrimination is unfair within the meaning of the Consumer Financial Protection Act, the CFPB’s UDAAP statute. After the Chamber of Commerce sued to block that interpretation and won before a Trump-nominated judge, the CFPB appealed. But before the appeal could be […]
The U.S. District Court for the District of Columbia on Tuesday issued an order confirming that the CFPB must continue to operate, smacking down the agency leadership’s recent efforts using re-interpretations of the Dodd-Frank Wall Street Reform and Consumer Protection Act to argue that the bureau would soon run out of funding. Following a Department […]