Links in “CFPB”
- Mr. Cordray Goes to Washington
The CFPB's director is scheduled to testify before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on July 15. You can watch it live. [7/1/15]
- Three Major Auto Lenders Poised to Limit Discretionary Pricing
The CFPB is reported to be close to a deal limiting discretionary pricing for three of the nation's largest indirect auto lenders, which it alleges created an environment where minorities were pushed toward higher-rate loans. [7/1/15]
- More Unbanked Using Prepaid Cards Like Traditional Checking Accounts
A report by Pew on prepaid cards finds that the unbanked use their prepaid cards like a checking account and to manage their budgets, which underscores "the need for the CFPB to finalize rules it has proposed that would extend greater safeguards to prepaid card users." [7/1/15]
- How Congress is Trying to Get a Handle on the CFPB
When the standard tools of congressional oversight, such as budgetary appropriations and the power to confirm senior officials, don't apply, Congress is having to find more creative ways of reining in the CFPB. [6/30/15]
- Senator to CFPB on Payday Lending Rulemaking: Not So Fast
Senator who chairs the Senate Committee on Small Business and Entrepreneurship has asked the Government Accountability Office to investigate the CFPB's payday lending rulemaking process. [6/30/15]
- CFPB’s “Discrimination and Retaliation” Under Congressional Spotlight
Witnesses in a House Subcommittee hearing allege that the CFPB has the worst track record of all federal financial agencies of protecting its own employees against discrimination. "The CFPB is more concerned with bad press than the underlying problem." [6/29/15]
- Consumer Complaint Narratives Go Live on CFPB Website
Yesterday the public gained access to over 7,700 consumer complaint narratives, which are posted on the CFPBâs Consumer Complaint Website, and concerns include mortgages, credit cards, accounts at financial institutions, and other services. The CFPB has opened a 60-day period for public comment on the new feature. [6/26/15]
- CFPB’s Consumer Complaint Narrative Database Goes Live
Despite industry objections, the CFPB added consumer complaint narratives to its database. The feature debuted with more than 7,000 gripe stories. [6/26/15]
- CFPB Proposes October 3rd TILA/RESPA Implementation
The CFPB has officially proposed that the implementation date for the integrated TILA/RSPA disclosure be delayed until October 3rd. The CFPB noted that the proposed implementation date will fall on a Saturday, which they believe will provide financial institutions with additional time over the weekend to test their systems. [6/25/15]
- CFPB’s “Blatant” Disregard for the Law
A senior equal employment specialist in the CFPB's Office of Civil Rights is scheduled to testify today before Congress. "Never until my employment at the CFPB have I witnesses such blatant and willful disregard for the law, merit systems principles, and the well-being of its employees." [6/25/15]
