Republicans are blocking the appointment of Richard Cordray as director of the Consumer Financial Protection Bureau. Obama says he won't back down on his effort to protect middle-class Americans from deceptive business practices and prevent another financial meltdown.
Student loan forgiveness is on the minds of many. The class of 2011 has received the unwelcome distinction of becoming the most indebted graduating class ever and student loan debt overall is expected to hit $1 trillion. Here are five ways the White House and the Department of Education plan to ease the burden:
The minimally regulated, fast growing payday lending industry strips Americans of billions annually. It's time for the new Consumer Financial Protection Bureau to implement regulations to curb predatory lending so that a $400 loan doesn't put a borrower thousands of dollars in debt.
Consumer advocate Elizabeth Warren filed paperwork Thursday to form an exploratory committee for a US Senate run in Massachusetts. Republican Scott Brown currently holds that seat.
The sweeping financial reform legislation passed by Congress a year ago created the Consumer Financial Protection Bureau. President Obama nominated its first director Sunday, but Republicans are against the structure of the entire agency.
Prepaid cards are fastest-growing method of payment. American Express is first large financial company to offer prepaid cards.
"Yes We Can” was so 2008. Now President Obama is the incumbent, with a record to defend. More than whom the Republicans nominate to run against him in 2012, how voters perceive Mr. Obama’s accomplishments and liabilities – two highly subjective categories, at times overlapping – will determine whether he gets four more years. Here are his top six accomplishments, including the killing of Osama bin Laden: