“Boy, they really hate you, don’t they?” Such were the words from Massachusetts Democrat Michael Capuano during a hearing this week between CFPB Director Richard Cordray and the House Financial Services committee which “welcomed” the consumer watchdog’s director for a 5 hour round of questioning...
There are no shortage of divisive topics in Washington D.C. these days; it would, in fact, be quicker and easier to make a list of topics that enjoy bipartisan agreement than to try and catalog all the individual differences. Judges, budgets, healthcare, regulation, the environment...
What is short-term lending’s long-term future? That’s the question on most segment watcher’s lips as 2017 gets up and running — and as millions nationwide await the final ruling from the CFPB. If the rules pass as present, long-term might be something of a huge...
In a brief filed on Friday (March 17) in a lawsuit against the Consumer Financial Protection Bureau (CFPB), the Justice Department declared that the agency’s structure is unconstitutional. In the lawsuit, it’s stated that the current structure of the consumer watchdog agency actually provides it...
On Monday (March 6), CFPB Director Richard Cordray presented at the LendIt USA Conference, providing attendees with an overview of where the bureau stands on FinTech innovation. In his keynote speech, Cordray shared how the CFPB is working to help facilitate FinTech innovation in a...
The latest complaints snapshot from the CFPB is in — and once again, credit reporting has managed to lead the pack amongst things consumers are dissatisfied with. Of the approximately 29,000 complaints handled in January, there were 7,730 complaints about debt collection. The problems are...
For people who are credit invisible or lack enough credit history to receive a credit score, the possibility of obtaining a mortgage, credit card or other type of loan can be nearly impossible. In order to achieve those types of goals, they often have to...
The Consumer Financial Protection Bureau scored a victory when a federal appeals court on Thursday (Feb. 16) agreed to throw out a ruling that found the government watchdog is unconstitutional. According to a report by American Banker, the federal appeals court said it would revisit the issue...
While there have long been calls on Capitol Hill to reform the CFPB with an eye toward scaling back some of its vast powers, at least two Republicans — one Senator and one Congressman — are ready to toss the whole thing on the scrap...
