The fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act prompted several articles today. Here here are few. 5 Numbers To Know As Dodd-Frank Wall Street Reform Celebrates Its 5th Birthday From Think Progress: Tuesday marks the five-year anniversary of the Dodd-Frank overhaul of America’s money business. The law is officially old […]
CNBC has the story here. Three of the top four are the big three credit bureaus. The Consumer Bankers Association is dismissive of the findings. Quoting now from Marketplace: “They're basically in the shaming of banks business by providing what I call a ‘David Letterman Top 10 List’ of complaints,” says Richard Hunt, president of […]
The story, based on data from Sallie Mae, is accompanied by several informative charts documenting the rise of higher education and breaking down methods of payment by category — grants, student income and saving, parents income/savings, other relatives, and loans. The amount financed by parents and other relatives is revealing in terms of the barriers […]
The Dodd-Frank Wall Street Reform and Consumer Protection Act turns five years old this week. The Wall Street Journal interviewed the Act's sponsors, former Sen. Chris Dodd and former U.S. Rep. Barney Frank, about the law. Excerpts are here.
The New York Times weighs in on pending amendments to the Food, Drug, and Cosmetic Act: A bill passed by the House and ostensibly designed to streamline the Food and Drug Administration is loaded with bad provisions and may not even be necessary. The Senate should either eliminate or rewrite the flawed provisions before passing […]
This study by researchers at the University of Pennsylvania and Columbia University finds that people who live in certain zip codes in Pennsylvania with fracking were hospitalized more often than people who live in a "control county" that does not have fracking. The study says that the "data suggest that [fracking] wells, which dramatically increased […]
The New York Times reports: The Treasury Department has begun a study of online marketplace lenders, as the federal government looks to determine whether regulations are keeping up with the rapidly growing industry. As many traditional banks have retreated from making small loans to businesses and consumers, a flood of online lenders have filled the […]
"For many households, the monthly rent check is so big that it eats up the majority of their paycheck — and the burden is growing," observed the Washington Post this week, in a story discussing a recent Harvard report on the subject and explaining that 11 million Americans, or about a quarter of all renters, spent more […]
The blog Credit Slips reports today: Yesterday, Judge Amy Totenberg of the Northern District of Georgia issued a very cogent 70-page opinion in the case of the CFPB v. Frederick Hanna & Associates, a large collection law firm with offices in Georgia, Florida, and South Carolina. The opinion denies Hanna's motion to dismiss in its […]
The Wall Street Journal reports today that bankers and housing advocates are teaming up in effort to ease mortgage access for borrowers with weaker credit. A rare coalition of mortgage lenders and left-leaning consumer advocates are calling on the Obama administration to ease up on lawsuits they say are driving banks away from making loans […]