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.
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.
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.
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.
Reporting Elder Scams Doesn’t Break Privacy Law
Seven federal agencies issued guidance Tuesday clarifying that the privacy provisions of the Gramm-Leach-Bliley Act generally permit reporting of suspected elder financial abuse.
JPMorgan Hit With $80M Fine Over Illegal Credit Card Practices
Together with the $920 million JPMorgan Chase agreed to pay over the London Whale case, Thursday was an expensive day for the megabank.
New Hire Roundup: CFPB Names Antonakes Deputy Director
Justin Frys became a branch manager for Zeigler in Minnesota, and Chad Parks joined Beacon Research as sales director.
House to Examine SEC’s Money-Market Fund Plan
The Financial Services Committee’s Capital Market Subcommittee plans to hold a hearing Sept. 18 on the SEC's proposed rules.
Supreme Court’s Recess Appointment Case Challenges CFPB Head: Hensarling
The case, on three people Obama named to the NLRB, will also determine the constitutionality of Richard Cordray's appointment, the House Financial Services chairman says.
CFPB Calls for ‘Rigorous’ Standards for Senior Designations
The CFPB told Congress, the SEC and state regulators that the alphabet soup of “senior designations”—more than 50—confuses older Americans and that a three-pronged approach is needed to protect the elderly from fraud.