Links in “CFPB”

The CFPB's arsenal of information delivery was on display as it promoted increased understanding and oversight on prepaid products. These included a new proposal and speech by Director Cordray as well as the noted blog. The blog provides a summary into the Bureau's efforts to promote consumer understanding and protection involving prepaids. [11/14/14]

The CFPB ordered Franklin Loan Corporation (18 locations in Southern California and one in Chicago) to pay $730,000 for giving its employees illegal bonuses for steering consumers into loans with higher interest rates and is seeking injunctions to have the company end the practice and provide compensation to the potential 1,400 harmed consumers. [11/14/14]

CFPB orders Franklin to pay $730,000 for a compensation system that rewarded loan officers for steering consumers to higher-rate loans. On the other hand, between 2011 and 2013, Franklin Loan originated $887 million in loans. [11/14/14]

Speech highlights efforts of the CFPB to promote banking and bank education through targeted initiatives and programs of the CFPB. [11/7/14]

The FY 2013 Report with a April 2014 date is released presenting hiring statistics at the Bureau as well as key insights into the goals of the CFPB. The 109-page report also presents statistics and insights into issues raised in the hiring practices and the efforts of the Bureau to respond to those issues through initiatives. [11/7/14]

Despite the big GOP win on Tuesday, the Senate remains closely divided and that pendulum is likely to swing back the other way in 2016, and the President still has veto power. The big losers in all this: the CFPB and the Fed. [11/6/14]

According to the CFPB, persistent efforts to collect on medical debt, collect debts of deceased family members, and making illegal threats to garnish the federal benefits top the list of complaints from older consumers. [11/6/14]

Office of the Inspector General comes up with a list of five major challenges facing the CFPB, from its operational inefficiency to its headquarters renovation. [11/4/14]

CFPB issues a definition under a final rule for certain alternative small servicing nonprofit entities. Exemption will not apply to credit union industry directly. Additionally, the CFPB's final rule also provides a cure mechanism for the points and fees limit that applies to qualified mortgages. [11/3/14]

Speculation that the Nov. 13 field hearing, for which no topic has been announced, could be about the proposed rule for prepaid cards, which CFPB's director had previously said would be issued at the end of summer. [10/31/14]