by Jeff Sovern Here's his tweet: Donald J. Trump ✔ @realDonaldTrump Congratulations to Jeb Hensarling & Republicans on successful House vote to repeal major parts of the 2010 Dodd-Frank financial law. GROWTH!
by Jeff Sovern My co-author, Dee Pridgen, has created a supplement for our casebook to bring it up to date since it is now nearly four years old (we plan to produce a new edition in 2019). If you want a copy, please email her directly at Pridgen@uwyo.edu.
Each year, roughly three dozen children die of heatstroke in unattended vehicles. Yesterday, three congressmen and a coalition of safety groups announced proposed legislation to require alerts in cars as a reminder that there may still be a child in the back. FairWarning has the story. The Alliance of Automobile Manufacturers said it would review […]
by Jeff Sovern Last summer, the CFPB issued a document indicating its tentative plan for third-party debt collector regulation, and saying that it was going to move forward on first-party debt collectors separately. Today, CFPB Director Richard Cordray gave a speech saying that in light of feedback the Bureau had received, it has: now decided to […]
Yesterday, Allison wrote about the House Financial Services Committee staff report threatening CFPB Director Richard Cordray with contempt charges. Democrats on the Committee replied here. Excerpt: Debunking Republicans’ Alternative Facts: Fiction: “Wells Fargo has cooperated in full with the Committee’s investigation to date.” Fact: Wells Fargo has not responded to Democrats’ multiple requests to provide Democratic staff the same […]
by Jeff Sovern The House passed the Financial Choice Act, H.R. 10, which would cripple the CFPB. According to Law360's Evan Weinberger, the vote was 233-186, and as expected followed party lines.
For our readers who are following the many suits against Trump and are civil procedure buffs: We've previously posted (here and here) about an unfair competition suit by a D.C. wine bar against Trump in his personal capacity and his new D.C. hotel. The suit was filed in local court in D.C. (the D.C. Superior Court). The […]
Here. The whole piece is worth a read, but here's an excerpt: The bill would take away the CFPB’s ability to inspect banks, mortgage brokers, foreclosure relief firms, student and payday lenders, debt collectors, credit reporting agencies and auto financing companies to ensure they accurately disclose credit terms to borrowers and that they comply with […]
In The New York Times: Mr. Otting worked closely with Treasury Secretary Steven Mnuchin when the two men ran OneWest. Formerly known as IndyMac, the lender had to be taken over by the federal government in the financial crisis of 2008 and was sold to a group of investors that included Mr. Mnuchin the next […]
American Banker reports: The House Financial Services Committee is threatening to file contempt charges against Consumer Financial Protection Bureau Director Richard Cordray for allegedly lying about the bureau's investigation into the Wells Fargo scandal. In a 15-page report released Tuesday by Republican staff, the committee claimed that the CFPB has not produced records showing that […]