by Jeff Sovern Last month, Jeffrey Joseph posted Tyrannical CFPB tarnishes July 4th holiday in The Hill. Well, ok; others have so claimed, including House Financial Services Chair Jeb Hensarling. Joseph is described at the end of the op-ed only as "a business professor at the George Washington University School of Business." I was curious to see what […]
Yesterday, the Federal Trade Commission announced two actions potentially of interest to readers: The FTC announced that it halted an operation that unlawfully shared and sold consumers' sensitive data. The operators of a lead generation business agreed to settle charges brought by the FTC that the company misled consumers into filling out loan applications and […]
Here. Excerpt: Some changes by the Trump administration are already unfolding. The Education Department plans to consolidate the number of federal loan servicing companies from nine to one. Administration officials also have discussed moving the federal loan program from the Education Department to the Treasury Department. Meanwhile, the Trump administration announced plans to roll back […]
by Jeff Sovern Here. Excerpt: Faced with a choice between helping their constituents or helping themselves to a campaign donation haul, House Republicans are siding with deep pockets. All but one of the House’s 234 Republicans voted last month to gut a powerful agency — the Consumer Financial Protection Bureau — that banks, credit card issuers, debt collectors […]
Part 1 is here and part 2 is here. Excerpt: In my years of experience representing student loan borrowers, I have consistently seen servicers putting their own interests, or what they perceive to be the government’s interests, first. They rarely counsel student borrowers about the range of student loan relief programs, too often ignoring the fact […]
June 26, 2017 – Owner of New England Compounding Center Sentenced for Racketeering Leading to Nationwide Fungal Meningitis Outbreak June 22, 2017 – Pharmacy Owner and Director of Compliance Charged with Defrauding United States and Distributing Adulterated Drugs June 15, 2017 – Department of Justice Observes World Elder Abuse Awareness Day June 15, 2017 – […]
by Paul Alan Levy An important appeal is pending in the District of Columbia Court of Appeals – the highest appellate court in D.C. The federal government served D.C. warrants on Facebook, demanding access to the entirety of 90 days worth of communications in three separate Facebook accounts, including identifying information. (Presumably, the reason why […]
by Jeff Sovern Next stop should be the full committee, then the House floor.
by Jeff Sovern We posted yesterday about the House Appropriations Bill. I haven't studied the bill, but on a quick look, it contains a number of objectionable provisions from the Financial Choice Act (already passed by the House), including repeal of the CFPB's power to regulate arbitration and payday lenders and to block conduct on […]
by Jeff Sovern From The Hill. Excerpt: A spending bill released Wednesday by the House Appropriations Committee includes major restraints for financial regulatory agencies. * * * Including the provisions in the spending bill, which is must-pass legislation, increases the odds they could become law. The measure places the Federal Deposit Insurance Corporation, Consumer Financial […]