Reprinted with permission from DC Report. The trade group for the payday loan industry, which profits from interest rates as high as 950% a year imposed on the poorest among us, is planning to hold its annual conference this year at Trump’s golf resort near Miami. The industry will have a lot to celebrate at the four-day conference in April of […]
“What Donald Trump wants to do is fire one of the most important financial cops and then say to the American people, you keep walking down this dark alley and, you know, what happens is what happens,” Warren said in a recent interview. The financial cop in question is Consumer Financial Protection Bureau director Richard Cordray.
Campaigning in Ohio on Monday, Hillary Clinton will unveil a plan to make it easier for consumers to take legal action against “bad corporate actors,” citing Wells Fargo & Co and Mylan Pharmaceuticals.
Earlier this month, the lender agreed to pay $190 million in penalties and customer payouts to settle the case involving the creation of credit, savings and other accounts without customers’ knowledge. About $5 million will directly go to customers, many of whom might have paid a small fee on the unwanted accounts
It’s high time something was done about Payday Loan outfits fleecing poor people. Payday loan borrowers often pay more in fees than original loan.
It is wrong to accuse Clinton of “pay for play” when the available evidence doesn’t support that accusation. And if Sanders wants to hold her to a standard of absolute purity, he should apply that same measure to himself.
By Jim Puzzanghera, Los Angeles Times WASHINGTON — A government watchdog criticized the Consumer Financial Protection Bureau’s controversial headquarters renovation, whose price tag has risen to an estimated $216 million, saying there was not a “sound business case” for the project because the agency never analyzed other options. The inspector general’s report, released Wednesday, said […]
Elizabeth Warren, the Harvard professor and consumer advocate who played the lead role in establishing the Consumer Financial Protection Bureau that is at the centerpiece of last year’s Dodd-Frank financial reform bill, is officially exploring a run for U.S. Senate in Massachusetts. Her website is live and she has reportedly been meeting with Democratic activists […]
The White House announced Sunday President Obama’s intention to nominate former Ohio Attorney General and currrent Chief of Enforcement at the Consumer Financial Protection Bureau as that body’s first director: “American families and consumers bore the brunt of the financial crisis and are still struggling in its aftermath to find jobs, stay in their homes, […]