The Consumer Financial Protection Bureau has launched a new tool called Ask CFPB to help answer financial questions consumers might have. Right now more than 350 entries are available on topics like credit cards and mortgages. As this tool takes off, the Bureau hopes to expand the list of topics to cover student loans, auto loans, checking and savings accounts. You want it, they have it.
Tag Archives: Richard Cordray
Debt Collection on Defaulted Student Loans: The Department of Education Meets Tony Soprano
Posted in Consumer ProtectionThe total amount of student loan debt totals nearly a trillion dollars… In this milieu of despair, the Department of Education is ramping up collection efforts. But sadly and I think incorrectly, they have teamed up with private debt collectors who earn up to a 16% commission for collecting student loan repayments.
Regulating Credit Reporting Agencies and Debt Collectors: Richard Cordray and the CFPB Establish Some of Their Territory
Posted in Consumer ProtectionValuable to many and a safety net to millions more, predatory loans are around to stay. But good news: Our new friends at the Consumer Financial Protection Bureau–for the first time–will be taking a good hard look at what is legalized “loan sharking” and put a national enforcement strategy together for policing these practices.
DOJ Files Criminal Charges Against Credit Suisse Traders: What We Can Learn About Wall Street Bonuses
Posted in Consumer ProtectionCould there be a clearer rallying cry for regulation of Wall Street bonuses? Heck, John Dillinger only robbed banks of a few hundred thousand dollars over the course of his “career,” and they created the FBI to catch him.
The Consumer Financial Protection Board Finalizes Remittance Rules
Posted in Consumer ProtectionRichard Cordray is wasting no time at the Consumer Financial Protection Bureau. Forget Senate confirmation, Director Cordray has consumers to protect. With Director Cordray at the helm, the CFPB finalized its amendment to the rules governing remittances from the United States.
“Director” Richard Cordray, President Obama Flexes his Muscles, and a Recessed Congress
Posted in Consumer ProtectionThe CFPB has been crippled without a head. It is a centerpiece of the much-needed Dodd-Frank legislation. Appointing Mr. Cordray will allow the CFPB to begin the work of regulating a fast moving and dynamic sector that to date has remained one step ahead of regulators.
The Politics of the Consumer Finance Protection Board and the Nomination of Richard Cordray
Posted in Social PolicyA party wins the election and they must be allowed to govern. If they fail to do so, vote them out of office in two years or four years, but allow them to fulfill the mandate of the electorate… We need to give Dodd-Frank and Richard Cordray a chance to govern.
The Show Must Go On with Cordray as Head of Consumer Financial Protection Bureau
Posted in Consumer ProtectionIs this former 5-time “Jeopardy!” champion ready to follow rock star Elizabeth Warren as the first director of the Consumer Financial Protection Bureau? Consumers can only wait and hope for the best.