The headline reads Trump to Cordray: You’re Not Fired. It argues that the Treasury Report has made a strong case for firing the CFPB director.
Category Archives: Consumer Financial Protection Bureau
Brooklyn's David Reiss has written an op-ed for The Hill, Americans are better off with consumer protection in place. Excerpt: [T]he [Treasury] report argues that the bureau’s jurisdiction overlaps with that of other regulators. That is a red herring. The fact is that abusive lending practices were rampant in the years leading up to the […]
Here. It might even happen by the end of this year. Excerpt: "Creditors should be responsible since they are our customers," said Dong Hong, vice president and senior counsel at the Consumer Bankers Association. "For the most part, we're fine with the disclosure regime the CFPB is creating.
Here. She discusses the CFPB, among other things.
Reuters covers it here, and housing Wire here. Both stories refer to a five-page letter from the Director. According to the Reuters' story: The [Committee staff] report said the CFPB had been an ineffective watchdog against Wells Fargo & Co, missing extensive improper sales practices and taking action only after work on the bank's unauthorized […]
Here. On a quick look, it looks less bad than the Financial Choice Act–but still bad.
Here, in Minnesota's Star-Tribune. Prentiss wrote it with two other original members of the Bureau's Consumer Advisory Board, Jose Quinonez and William Bynum. Excerpt: Have you ever been an eyewitness to an event and later seen it written about in a way that directly contradicts your experience? As three people who witnessed close-up the Consumer […]
Here. Excerpt: [The report] is harshly critical of the Consumer Financial Protection Bureau and recommends that the bureau be stripped of its authority to examine financial institutions, people familiar with the matter said. By law, the bureau has the authority to enforce consumer laws as well as to examine individual firms on a continuing basis. […]