The Consumer Financial Protection Bureau, or CFPB, plans to streamline a number of regulations it “inherited” as part of its inception from seven other agencies. And it’s asking the public for advice on how to tackle the job. Raj Date, special adviser to the Treasury on the CFPB, said in a statement the goal is
Should the federal government regulate virtual currencies as if they were home loans, bank accounts or other consumer financial products? That question popped up this week in a comment letter the American Bankers Association, or ABA, submitted to the Consumer Financial Protection Bureau, or CFPB. The letter expressed the Washington, D.C.-based trade association’s views about the
Following on the heels of its overhaul of credit card disclosures announced in March, the Consumer Financial Protection Bureau, or CFPB, last week launched its “Know Before You Owe” project, a similar attempt to streamline and clarify government-required mortgage disclosures. “Buying a home is one of the biggest financial decisions most Americans will ever make.
Halloween 2010 may be over, but financial institutions might still be scared if they’ve been reading the recent remarks of Elizabeth Warren, the former Harvard University law professor who is helping to “stand up,” to use her term, the new federal consumer protection bureau. Warren has unfolded a picture of an agency that’s little like
Politics aside, it’s easy to like at least some of what President Barack Obama recently had to say in the White House Rose Garden about the mission of the new Consumer Financial Protection Bureau. Here’s an extended excerpt: “Never again will folks be confused or misled by the pages of barely understandable fine print that