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The FTC hopes the proposed rule will save consumers time and money and ensure a level playing field for honest dealers.
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Sen. Chris Dodd and former Rep. Barney Frank say the CFPB-creating law bearing their names does not fall under the purview of the Federal Vacancies Reform Act. They joined other Democrats and activists last week in announcing plans to challenge a federal judge's ruling that denied a CFPB official's attempt to block President Trump’s interim director appointee.
Read More →The editor wonders how regulators, including two new mini-CFPBs in Pennsylvania and Maryland, view a consumer advocacy group’s highly critical report on how dealers price F&I protections.
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Republican Senator Mike Crapo (R-Idaho) told reporters on Wednesday he’s getting closer to brokering a deal on bipartisan legislation aimed at rolling back parts of the Dodd-Frank Act.
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Four days after the U.S. House passed a bill aimed at reversing a number of Dodd-Frank financial regulations and scaling back the CFPB’s authority, the Treasury Department recommended that the bureau’s powers be reduced in a report containing more than 100 suggestions for financial reform.
Read More →President Donald Trump took his first step toward making good on his promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, signing on Friday an executive order directing the secretary of the Treasury to review the 2010 financial oversight law.
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Senate Republicans have reintroduced legislation aimed at replacing the CFPB’s single-director structure with a five-member bipartisan board. The bill was unveiled as Congressional Democrats and state regulators pledged to defend Director Richard Cordray and his agency.
Read More →The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ordered to pay $5.5 million in fines to the regulator.
Read More →There’s one way to keep federal regulators, plaintiffs’ attorneys, attorneys general and the media at bay. Read on to find out what it is.
Read More →Can President-elect Donald Trump really deliver on his promise to ‘dismantle the Dodd-Frank Act’? The editor’s regulatory insiders say that outcome, while possible, is highly unlikely.
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