U.S. Consumer Financial Protection Bureau

Elizabeth Warren to pen new book -- a middle-class call to arms?

2013-05-23 09:16:00

A book can’t rescue the American middle class. But a lot of politicians who say they want to rescue the American middle class are writing books about their travails and their vision — all timed to come out as the 2016 presidential election...

Reid to delay Senate votes on most Obama nominees until July

2013-05-21 16:27:00

WASHINGTON — Senate Majority Leader Harry Reid said Tuesday that he will delay votes on several of President Obama’s nominees for key posts until July, a decision raising the prospect that he’ll seek further changes to Senate rules...

Short sales routinely show up in credit reports as foreclosures

2013-05-17 20:20:00

WASHINGTON — Are large numbers of homeowners who have negotiated short sales with lenders at risk because of a startling omission in the American credit system? Do their credit reports and scores indicate that they were foreclosed upon, rather...

Nuking the filibuster

2013-05-15 00:00:00

In requiring the U.S. Senate to confirm presidential appointments, the Constitution aims to ensure a second level of scrutiny of the qualifications of government officials. But Senate Republicans have hijacked the confirmation process, not only to...

Freshman senator with senior pluck takes on the financial industry

2013-05-10 00:00:00

WASHINGTON — Sen. Elizabeth Warren, the newest member of the Senate Banking Committee, waited patiently for her first chance to question top financial regulators at a recent hearing on Capitol Hill. When her turn finally came after 90 minutes,...

Consumer agency urges standards for financial advisors to seniors

2013-04-19 00:00:00

WASHINGTON — Older Americans can be confused by dozens of special designations for financial advisors for seniors, and government officials should set strict standards for training and conduct to prevent abuses, according to a new federal report....

Payday loans trap people in a cycle of debt, U.S. watchdog says

2013-04-23 18:00:00

Payday loans often trap consumers in a cycle of debt, a new report by the federal government finds. The Consumer Financial Protection Bureau found that the average consumer took out 11 loans during a 12-month period, paying a total of $574 in fees...

Agency wants more rules governing financial advisors for seniors

2013-04-18 12:00:00

WASHINGTON -- Older Americans can be confused by dozens of special designations for financial advisors for seniors, and government officials should set strict standards for training and conduct to prevent abuses, according to a federal report released...

House chairman bars consumer bureau chief from testifying

2013-04-23 06:46:00

WASHINGTON -- The head of the Consumer Financial Protection Bureau will deliver his semi-annual report to the Senate Banking Committee on Tuesday morning, but he's not welcome to do the same before a House panel. House Financial Services Committee...

Tribes' payday loans under scrutiny

2013-04-29 18:10:00

A growing number of Indian tribes are getting into the payday loan business, saying they just want to raise revenue for their reservations while helping cash-strapped consumers nationwide. But federal officials suspect that, at least in some cases,...

High-cost borrowing is a new American norm, research finds

2013-04-26 15:32:00

High-cost borrowing through payday loans, pawn shops, auto title loans and others is no longer on the margins of U.S. consumer behavior — about 1 in 4 Americans have tapped this kind of financing, new research shows. A new study by the National...

Lenders venturing back into subprime market

2013-04-27 05:00:00

Michele and Russell Poland's credit was shot, but they managed to buy their suburban dream home anyway. After a business bankruptcy and a home foreclosure, they turned to a rare option in this era of tightfisted banking — a subprime loan. The...

Richard Cordray, director of the Consumer Financial Protection Bureau.

2013-04-04 10:40:00

Richard Cordray, nominee for director of the Consumer Financial Protection Bureau, and Mary Jo White, nominee for chair of the Securities and Exchange Commission, are sworn in prior to testifying at a confirmation hearing before the Senate Committee on Banking, Housing and Urban Affairs last week.

2013-03-19 06:43:09

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) is a leading critic of the Consumer Financial Protection Bureau.

2013-03-12 07:04:23