Topic: Consumer Financial Protection Bureau

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Hillary Clinton for president? Eight Democrats who might run next time.

Tired of the 2012 presidential race? 2016 actually isn’t that far away, especially for Democrats looking hungrily at a nomination race that will not include President Obama. Speculation has already started over who might run – fueled by no less a figure than former President Clinton, who has suggested in recent TV interviews that his wife, Secretary of State Hillary Rodham Clinton, might change her mind about not running once she’s had a break. Here are some of the possible contenders.
Student loan forgiveness: 5 ways Obama wants to ease student debt

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:
Getting bin Laden and five other boosts to Obama's reelection bid

"Yes We Can” was so 2008. Now President Obama is the incumbent, with a record to defend. Here are his top six accomplishments, including the killing of Osama bin Laden.

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What is arbitration? You sign away rights. Is that OK?

Cellphone and credit card applications typically contain an arbitration clause that keeps you from suing the phone carrier or bank if a dispute arises. Often, the bank gets to pick the arbitrator. The federal government is looking to see if arbitration clauses give companies too much power.
Student debt: How big a risk does it pose to the economy?

Student debt represents a financial challenge for America, some economists say, but in a way that's different from the big buildup in mortgage debt that led to a deep recession.
Student loans: What will you owe? Check here.

Students loans online calculator is being tested by the Consumer Financial Protection Bureau. Users can compare grant and scholarship offers to see what they will owe in student loans.
Credit cards: No move to limit big fees?

Credit cards can charge nearly $100 processing, activation fees for opening an account for subprime borrowers. But financial protection board is backing away from push to regulate the initial credit card fees.
Hillary Clinton for president? Eight Democrats who might run next time.

Tired of the 2012 presidential race? 2016 actually isn’t that far away, especially for Democrats looking hungrily at a nomination race that will not include President Obama. Speculation has already started over who might run – fueled by no less a figure than former President Clinton, who has suggested in recent TV interviews that his wife, Secretary of State Hillary Rodham Clinton, might change her mind about not running once she’s had a break. Here are some of the possible contenders.
Obama signs STOCK Act, banning insider trading by members of Congress (+video)

Obama said the move to bar insider trading among lawmakers would assure everyone 'plays by the same rules.'
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Bye-bye free checking. Hello fee checking.

Free checking is disappearing as banks scramble to make up lost revenue. Will the government's new finance watchdog step in and regulate bank's new checking fees?
Prepaid debit card: new disclosure on fees

Prepaid debit card from three major issuers will now come with specific disclosures on fees. The disclosure 'box' being tested aims to help users understand costs of using a prepaid debit card.
Scott Brown pulls ahead of Elizabeth Warren in Mass. Senate race

Sen. Scott Brown, the Republican who famously won the seat held by Edward Kennedy, has built an early lead against Elizabeth Warren in what will be a closely watched race nationally.
Checking fees too high? Customers eye credit unions.

Checking fees, other charges caused credit unions to gain double the normal number of customers. Mulling more hikes in checking fees, big banks could lose more customers, advocates say.
New consumer agency targets debt collectors. Who can argue with that?

The Consumer Financial Protection Bureau, which faces stiff GOP opposition, picks what may be politically palatable targets for regulation: debt collectors and the credit-rating industry.
Obama plan to lower mortgage payments could help, but how much?

President Obama unveiled his plan to cut mortgage payments for 'responsible homeowners' in trouble. But the housing crisis is so massive that no one program can solve it, experts say.
Consumer bureau chief Richard Cordray testifies on Hill: Has he charmed the GOP?

Facing a hail of scrutiny from congressional Republicans in both the House and Senate over the last week, new consumer watchdog chief Richard Cordray has remained nonconfrontational.
Justice Dept says recent recess appointments legal

The department released a 23-page legal opinion Thursday summarizing the advice it gave the White House before the Jan. 4 appointments. GOP leaders have argued the Senate was not technically in recess when Obama acted so the regular Senate confirmation process should have been followed.
Recess appointee Richard Cordray ready to 'prove' worth of consumer bureau (+Video)

Amid controversy over his recess appointment, Richard Cordray outlines next tasks for the watchdog Consumer Financial Protection Bureau. The new CFPB director said Thursday businesses such as payday lenders will come under scrutiny.
Romney, Santorum bash Obama recess appointment. Why that could backfire.

The Obama administration argues that the recess appointment is necessary so the CFPB can perform its duties despite Republican obstructionism. Republicans may challenge the president in court.
Obama presses GOP on consumer watchdog delay

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.
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The rise in bank fees is over

Bank fees typically go up before new regulations. Now that the rules are in place, the most troublesome fee hikes are disappearing and competition will keep them from coming back.
Student loan forgiveness: 5 ways Obama wants to ease student debt

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:
Payday lenders prey on the poor, costing Americans billions. Will Washington act?

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.
Elizabeth Warren moves toward barnburner race against Sen. Scott Brown

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.
No violets shrinking among attorneys general

The appointment of a former chief law officer to a new post in Washington provides a reminder of the enduring influence French has on English.
Why GOP vows to block Obama nominee for consumer-watchdog agency

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: once a niche, now mainstream

Prepaid cards are fastest-growing method of payment. American Express is first large financial company to offer prepaid cards.
Getting bin Laden and five other boosts to Obama's reelection bid

"Yes We Can” was so 2008. Now President Obama is the incumbent, with a record to defend. Here are his top six accomplishments, including the killing of Osama bin Laden.