Here, by Joel Jacobs. Which makes it harder to understand why Congress just voted to cut the Bureau’s budget.
Category Archives: Consumer Financial Protection Bureau
Here. And here’s the abstract: The consumer finance industry frequently develops new types of loans and business models, such as buy now, pay later and earned wage access. While these products may help consumers, they also pose risks. To take only one example, consumers may unwittingly assume unaffordable obligations. These problems and others could be […]
Kate Berry’s story in the American Banker is headlined CFPB calls GAO funding probe ‘political’ and ‘weaponized.’ The story is about a letter the CFPB’s Chief Legal Officer, Mark Paoletta, sent the GAO. Not content with criticizing the GAO, Paoletta also called Congress “reckless and irresponsible” and the CFPB “an out-of-control agency.”
Here. Excerpt: The U.S. DOGE Service is using a new artificial intelligence tool to slash federal regulations, with the goal of eliminating half of Washington’s regulatory mandates by the first anniversary of President Donald Trump’s inauguration, according to documents obtained by The Washington Post and four government officials familiar with the plans. The tool, called […]
In May, we posted a link to an article by Charlotte Haendler of Southern Methodist University (SMU) – SMU Cox School of Business and Rawley Heimer of Arizona State University (ASU) – W.P. Carey School of Business, The Hidden Costs of Financial Services: Consumer Complaints and Financial Restitution. Alan Kaplinsky interviewed them for Ballard Spahr’s […]
In the American Banker. How sad that just when the Bureau is most needed, it is hibernating.
According to American Banker’s Claire Williams, in an article headlined Republicans gear up for Dodd-Frank rollback, Democratic Representative Gregory Meeks said during a hearing yesterday “that he would be open to the idea of a bipartisan commission at the CFPB.” But President Trump claims the right to fire Democratic commissioners on so-called bipartisan commissions, even […]
Here. The article makes it look like the administration is dedicated to keeping federal employees from working. So much for the promise to eliminate fraud, waste and abuse. Some excerpts: * * * Employees are reluctant even to talk to one another, out of fear that a conversation between two employees would be considered a […]
A Texas district court, in response to a joint request from the Consumer Financial Protection Bureau and trade industry associations, just vacated the bureau’s own rule that had prohibited most medical debt on credit reports. The Biden-era CFPB finalized a rule in January to ban medical bills on credit reports and to prohibit lenders from […]
By Maureen Tkacik and James Baratta, it’s captioned Hardly Workin’. It covers a lot of ground, but here’s one excerpt: In the meantime, formal entries into the CFPB’s consumer complaints database have soared, suggesting that the business of junk fees, predatory terms, and routine swindles is booming just as loudly as the Prospect has been predicting it would since […]