WASHINGTON (Reuters) – In his first full day as chief of the Consumer Financial Protection Bureau, Richard Cordray sought to lower the political heat around the agency, saying it would earnestly get…
Robert Powell writes today in his Your Portfolio column about a new investment strategy that isn’t quite “buy and hold.” Instead, it’s more like “buy and sell rarely.” He looks at a paper published in the Journal of Financial Planning, written by Michael Kitces and others, analyzing a strategy that involves selling only when stocks [...]
Obama bypasses Senate’s block to appoint Richard Cordray as CFPB head It’s been nearly six months since President Obama picked former Ohio Attorney General Richard Cordray as his nominee to head the recently created Consumer Financial Protection Bureau. But with Senate Republicans continuing to block a vote on Cordray’s appointment, the President has decided to [...]
The new federal Consumer Financial Protection Bureau is now open for business — and ready to receive complaints and inquiries related to home loans, Lew Sichelman writes.
WASHINGTON (Reuters) – Senate Republicans on Thursday beat back President Barack Obama’s pick to head the new Consumer Financial Protection Bureau (CFPB), as the issue has become entangled in the…
Richard Cordray’s nomination to head the new Consumer Financial Protection Bureau will continue to be a political football once the Senate refuses to approve him on Thursday.
President Obama is trying to sway enough Republican Senators to allow a vote on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau.
Consumers Union to Senate: Confirm Richard Cordray as Director of Consumer Financial Protection Bureau Consumers Union, the advocacy arm of Consumer Reports, today called on the Senate to confirm former Ohio Attorney General Richard Cordray as director of the Consumer Financial Protection Bureau. The Senate is expected to vote on the Cordray nomination tomorrow. Cordray’s [...]
Capital One Financial Corp. shares look like a bargain, but the uncertainties around the financial-services business and the economy make this stock the Stupid Investment of the Week.
Given a chance to complain, credit card consumers jumped at the opportunity. The newly created Consumer Financial Protection Bureau shares their top 10 bloodboilers.
The nation’s new consumer watchdog, the Consumer Financial Protection Bureau, has just finished analyzing three months’ worth of consumer complaints about credit car products and terms and found out: We’re confused.
A top official from the Consumer Financial Protection Bureau reported to Capitol Hill today to offer up an assessment of the agency’s first 100 days. Lawmakers disagreed on his assessment. Read that story and more in today’s Personal Finance Daily.
The infant Consumer Financial Protection Bureau needs more oversight, Republican lawmakers said at a hearing as a top bureau official defended the agency’s work.
WASHINGTON (MarketWatch) — The infant Consumer Financial Protection Bureau has already started examining large banks, and is working to clarify mortgage documents and student loans, a top official said in testimony submitted for a U.S. House subcommittee hearing scheduled for Wednesday. “In the first 100 days, we have been hard at work to promote a [...]
WASHINGTON (MarketWatch) — Financial institutions nearly doubled the number of mortgage loan fraud suspicious activity reports they submitted to the government in the second quarter, according to the Financial Crimes Enforcement Network. Firms filed 29,558 reports, up from 15,727 during the same period of 2010, mostly involving mortgages closed during the height of the real [...]
Consumer groups and small bankers on Tuesday called on the Federal Reserve to block Capital One Financial Corp.’s acquisition of ING Direct
The Consumer Financial Protection Bureau launches today with important — though limited — powers.
The Consumer Financial Protection Bureau gains new powers on Thursday, including oversight of the companies that compile the credit reports from which credit scores are generated. That could be good news for consumers.
Majority of people support new financial watchdog, Consumers Union survey shows A majority of consumers support the mission of the Consumer Financial Protection Bureau, according to a new poll by Consumers Union, the nonprofit publisher of Consumers Reports. The financial watchdog will open its doors tomorrow, as opponents in Congress continue to work to weaken [...]
The credit score you get from an agency might be quite different from the credit score your lender gets, according to a new study released Tuesday by the Consumer Financial Protection Bureau.
NEW YORK (MarketWatch) — President Barack Obama will on Monday nominate former Ohio attorney general Richard Cordray as director of the Consumer Financial Protection Bureau. Most recently Cordray has been head of the enforcement division at the CFPB. The announcement marks the end of hopes by consumer advocates that the job would go to Elizabeth [...]
WASHINGTON (Reuters) – The much vaunted and feared Consumer Financial Protection Bureau officially opens for business next week.
WASHINGTON (MarketWatch) — The number of mortgage loan fraud reports climbed 31% as large mortgage lenders conducted additional reviews after receiving demands to repurchase poorly performing mortgage loans, the Financial Crimes Enforcement Network said Tuesday. “A substantial majority of reports involved activities which occurred in 2006-2007, an indication that the industry is slowly making its [...]
Consumer bureau seeks input on targeting “nonbank” services The Consumer Financial Protection Bureau posted a statement on its website Tuesday asking consumers how much regulation should be imposed on “nonbank” agencies like prepaid credit card companies, debt consolidation services, and check-cashing agencies. The Dodd-Frank financial regulation law, which created the CFPB last July, only specifically [...]
AMSTERDAM/CHARLOTTE, North Carolina (Reuters) – Capital One Financial Corp plans to buy ING Groep NV’s U.S. online bank for $9 billion in cash and stock, freeing the Dutch bank to repay bailout funds…
Elderly Americans lose $2.9 billion annually to financial abuse Financial abuse of older Americans has increased by 12 percent over the last three years, according to a study released Wednesday by the MetLife Mature Market Institute. Elderly Americans are losing a reported $2.9 billion annually to financial abuse, up from $2.6 billion in 2008. Crimes [...]
A panel chairman accused Elizabeth Warren, who is directing the new Consumer Financial Protection Bureau, of lying.
Republicans are fighting the planned Consumer Financial Protection Bureau through oversight and budget proposals.
A House committee hearing into the structure of the new Consumer Financial Protection Bureau disintegrated into heated accusations of lying to Congress yesterday, with the panel’s chairman accusing Elizabeth Warren of giving misleading testimony …
The Consumer Financial Protection Bureau has begun testing two prototypes of mortgage disclosure forms that the new agency hopes will help borrowers applying for home loans.
Here is an explanation of the fundamentals of financial budgeting to help you better plan your household expenses.