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.
New Hire Roundup: Needleman Named to CFPB Advisory Board
Meanwhile, Dave Rau will head the trust tax group at U.S. Bank Wealth Management.
Boomer Mortgage Debt Could Dampen Economy
A growing number of homeowners are reaching retirement age still owing money on their houses, causing a squeeze on other spending.
What Elizabeth Warren Fails to Understand About Finance
Law professor Todd Zywicki says the primary victims of well-intentioned but paternalistic bureaucrats are the very people they are meant to protect, especially lower-income Americans.