7 Ways Citi Squeezed Millions of Credit Card Holders, According to the CFPB
Citigroup must pay $70 million in fines, and $700 million in relief to customers, for the way it ran its credit card business.
Sticker Shock: 71% of Parents Say College Is Too Costly
“College is absolutely necessary but at the same time unaffordable,” says Brian Schwartz, an HSBC financial advisor.
Enforcement: Chase to Pay $136M Over Debt Collection Practices
Meanwhile, FINRA barred five brokers for a sham private placement offering.
Sen. Warren Reintroduces Bill to Restore Glass-Steagall
New poll results the same day found voters still want tougher rules for Wall Street five years after Dodd-Frank Act became law.
What if We Replaced IRAs and 401(k)s?
A Brookings paper proposes replacing all tax-advantaged retirement plans with a single plan: The Universal Retirement Savings Account.
House Panel Votes for Deep Cut to IRS Budget
The funding bill includes provisions to stop the IRS from further implementing the individual mandate under the Affordable Care Act; SEC's budget stays flat.
Former Obama Official: Advisors Need to Serve Lower-Income Families
After the financial crisis, "many families who were financially secure before are now living paycheck to paycheck,” says Michael Barr.
Chris Dodd and Barney Frank: Wall St. Reformers —The 2015 IA 35 for 35
In an exclusive interview, former Sen. Dodd speaks about the Dodd-Frank law's progress, regulators’ fiduciary efforts and where the next crisis will come from.
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.