Sallie Mae Fined $96 Million for Bilking Military on Student Loans
Sallie Mae charged too-high interest rates and denied rate reductions to servicemembers in combat zones over missing paperwork, CFPB says.
Mortgage Debt Threatening Retirees’ Security: CFPB
The percentage of homeowners 65 and older with mortgage debt increased from 22% to 30% from 2001 to 2011, CFPB report says.
Some American Funds Clients Vulnerable to Heartbleed Bug
Parent company Capital Group urged 800,000 customers to change account passwords and other information to protect themselves from risk caused by the Heartbleed computer bug.
New Hire Roundup: BrightScope Names Riggio Its First Chief Revenue Officer
Also, Pacific Life announced changes in its sales organization, and Edmond Markel joined Hennion & Walsh.
SEC, FINRA, CFPB Enforcement: BofA Busted for Illegal Credit Card Practices
In other actions, Hewlett-Packard will have to pay $108 million to settle SEC and DOJ charges of FCPA violations.
New Hire Roundup: Charlson to Head Morningstar Alternative Funds Research
Meanwhile, the American Benefits Council names new board members and officers, and CFPB adds experts to senior posts.
House Passes Bill to Rein In CFPB
The bill replaces the director with a bipartisan board and cuts bureau workers’ pay; Senate support for the measure is unclear.
Hefty Penalties Hardly Make JPMorgan Flinch
The past year was a tough one for JPMorgan Chase: The bank had to fork over close to $20 billion in penalties that were levied by various regulators.
The Battles That Shaped Dodd-Frank
Chris Dodd and Barney Frank shared anecdotes about what really keeps Wall Street awake at night and who has more political clout than big banks.
Are You a Five-Star Advisor?
Advisor-client matchmaker Paladin found one advisor with 28 letters after his name, but gave the advisor only two stars out of five.