CFPB’s Independent Funding Nixed in Senate Budget Plan
GOP senator calls CFPB “a rogue agency,” but consumer groups say independent funding shields it from Wall Street pressure.
Forced Arbitration Clauses Harm Consumers: CFPB
Pre-dispute arbitration clauses "restrict consumer relief" in disputes with financial companies by limiting class actions, says Director Richard Cordray.
Obama Signs Student Aid Bill of Rights
Obama's student loan directive would create a new complaint system for student borrowers and ease loan repayment.
Ex-Gov. Pawlenty: White House Fiduciary Memo ‘Overly Broad’
The leaked memo was “overly broad in condemning the industry and fairly conclusory without citing a lot of specifics,” FSR's Pawlenty says.
Enforcement Roundup: Wells Fargo, JPMorgan Slammed Over Mortgage Kickbacks
Meanwhile, the SEC charged a Fort Lauderdale-based advisory fund manager and his firm with running a Ponzi scheme to buy jewelry, cars and a house.
More CFPs Needed but Board ‘Won’t Lower Standards’: CFP Board’s Keller
Board will foster growth partly through corporate partners and needs to “get its arms around” the robo-advisor trend, CEO Kevin Keller says.
What a GOP Senate Takeover Means for Dodd-Frank, CFPB, User Fees
AEI's Peter Wallison and others weigh in on what advisors can expect now that Republicans have dominated the midterms.
FDIC, CFPB Launch Spanish-Language Financial Ed Tool for Seniors
The FDIC and CFPB announced a new downloadable tool that teaches Spanish-speaking seniors how to be smart with their finances.
CFPB Should Boost Consumer Data Protections: GAO
Republican lawmakers say that the CFPB is overstepping its boundaries with "unwarranted" and "unwelcome" intrusion into personal consumer information.
SEC, CFPB Enforcement: AgFeed Fined $18M for Fattening Its Stock Price
Meanwhile, the CFPB sued for-profit chain Corinthian Colleges for predatory lending, and a hedge fund manager was charged with pocketing extra fees.