Personal Finance Advice and Commentary

Consumers who are fed up with aggressive debt collection activities and error-ridden credit reports might be cheered to learn the federal government is set to supervise a number of so-called nonbank financial companies that offer such services. Specifically, the Consumer Financial Protection Bureau, or CFPB, has announced a proposed rule that would bring the biggest

Government agencies expend a lot of time and money coming up with definitions. These exercises might seem silly until a seemingly obvious term like, say, “bank” gets caught up in some sort of enforcement, prosecution or civil action. Then, the official definition suddenly becomes a serious matter, indeed. A current example concerns the term “nonbank,”