Consumer Financial Protection Bureau

Type: Organization
Name: Consumer Financial Protection Bureau
First reported 7 hours ago - Updated 2 hours ago - 4 reports

Young adults hit hardest by overdraft fees: report

Check your bank balance recently?Debit card-linked accounts are most often hit with overdraft and insufficient fund fees — especially in the days leading up to payday and for purchases under $25, a government report Friday revealed.Of all debit card-linked ... [Published New York Post - 2 hours ago]
First reported 5 hours ago - Updated 4 hours ago - 2 reports

Americans really hate their banks

Consumer Financial Protection Bureau Director Richard Cordray If the Consumer Financial Protection Bureau has done nothing else, it has demonstrated just how loathsome the too-big-to-fail banks are to Americans. (And it has done much else—just this year ... [Published DailyMe.Com - 4 hours ago]
First reported Jul 31 2014 - Updated 8 hours ago - 9 reports

Are Overdraft Fees Really Just Loans Charging 17,000 Percent Interest?

Consumers whose checking accounts are running low generally have two options: don’t pay for anything using the depleted account or get a short-term cash infusion from the bank in the form of an overdraft loan. The price, of course, is the associated fee. ... [Published BusinessWeek - 8 hours ago]
First reported Jul 31 2014 - Updated 9 hours ago - 4 reports

GAO issues report on CFPB civil penalty fund

The Government Accountability Office (GAO) has issued a report on the results of its review the CFPB’s Civil Penalty Fund (CPF). The review was requested by Representative Shelley Moore Capito, who chairs the House Financial Services Committee’s Subcommittee ... [Published JD Supra - 9 hours ago]
First reported Jul 31 2014 - Updated 10 hours ago - 25 reports

CFPB Report Attacks Courtesy Pay

A new CFPB report found consumers who overdraw their checking accounts with debit cards generally overspend by small amounts, but pay very high costs for doing so.According to the agency’s research, the majority of debit card overdrafts occured on transactions ... [Published Credit Union Times - 10 hours ago]
First reported 13 hours ago - Updated 12 hours ago - 3 reports

Combine Solicitation - Customized Programming Deliverables

Notice Type: Combine Solicitation Posted Date: 31-JUL-14 Office Address: Consumer Financial Protection Bureau; Bureau of the Fiscal Service for CFPB; 1700 G St Washington DC 20552 Subject: Customized Programming Deliverables ... ... [Published Street Sweeper - 12 hours ago]
First reported Jul 31 2014 - Updated 16 hours ago - 3 reports

New bill would push CFPB supervision trigger to $50B

WASHINGTON (8/1/14)--Sens. Pat Toomey (R-Pa.) and Joe Donnelly (D-Ind.) have introduced a bill that would raise the credit union threshold for supervision by the Consumer Financial Protection Bureau (CFPB) to $50 billion in assets, up from the current ... [Published CUNA News Now - 16 hours ago]
First reported Jul 31 2014 - Updated 17 hours ago - 2 reports

Community HealthCorps Partners with Consumer Financial Protection Bureau to Assist Patients with Financial Literacy

Targeted News ServiceWASHINGTON, July 31 -- The National Association of Community Health Centers issued the following news release:Yesterday, the National Association of Community Health Centers (NACHC) (http://www.nachc.com/) announced a new partnership ... [Published Insurance News Net - 17 hours ago]
First reported Jul 31 2014 - Updated Jul 31 2014 - 4 reports

GAO takes up investigation into discrimination at CFPB

The Government Accountability Office will look into the CFPB ’s organizational culture and management practices in light of allegations that bureau managers are discriminating against employees based on race and gender and retaliating against employees ... [Published HousingWire.com - Jul 31 2014]
First reported Jul 31 2014 - Updated Jul 31 2014 - 2 reports

CFPB extends comment period on proposal to publicly disclose consumer complaint narratives

The CFPB is extending the comment period on its proposed policy statement that would expand the complaint data that it publicly discloses in its Consumer Complaint Database to include “unstructured” complaint narratives. In a statement released on July ... [Published JD Supra - Jul 31 2014]
First reported Jul 31 2014 - Updated Jul 31 2014 - 2 reports

SPECIAL ALERT: CFPB Proposes Significant Expansion Of HMDA Reporting Requirements

On July 24, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a proposed rule that would expand the scope of the Home Mortgage Disclosure Act (HMDA) data reporting requirements and streamline certain existing reporting requirements. ... [Published JD Supra - Jul 31 2014]
First reported Jul 31 2014 - Updated Jul 31 2014 - 2 reports

CFPB Launches Initiative to Provide Financial Education to Low-Income Consumers

(Image: ThinkStock)The Consumer Financial Protection Bureau announced its partnership with national and local organizations to train social services staff to offer financial education and tools to clients with low-to-moderate incomes.The CFPB introduced ... [Published Black Enterprise - Jul 31 2014]

Quotes

"The history of the financial crisis was the expansion of these niche loans far beyond the small group of borrowers for whom they were suitable, until they were exploding time bombs for most people who got them" said Michael Calhoun, president of the Center for Responsible Lending, an advocacy group
..." Richard Osterman, the FDIC's acting general counsel, said in a July 15 hearing that "the list was meant to instruct banks on where to focus their due diligence." He also added that banks and third-party payment processors obeying the law "have nothing to be concerned about...
...But the bureau found that "eight percent of customers incur nearly 75 percent of all overdraft fees."
The battle comes amid a proliferation of shady offers targeting members of the military for mortgages, car loans, payday loans and cash advances. "If you go outside almost any military installation, you see the used car places, the title loan places" says Guy Shields, a retired Army colonel and spokesman for Army Emergency Relief, a private nonprofit group incorporated in 1942 to assist soldiers in...

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All (2271) | News (1639) | Reports (0) | Blogs (608) | Audio/Video (2) | Fact Sheets (0) | Press Releases (18)
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Impac Mortgage rolls out loans with easier qual... [Published DailyMe.Com - 1 hour ago]
Young adults hit hardest by overdraft fees: report [Published New York Post - 2 hours ago]
Americans really hate their banks [Published DailyMe.Com - 4 hours ago]
Impac Mortgage rolls out loans with easier qual... [Published Los Angeles Times - 4 hours ago]
This Week In Credit Card News: 35% Of Consumers... [Published Forbes.com - 4 hours ago]
Americans really hate their banks [Published Daily Kos - 5 hours ago]
NACHA Government Relations Update [Published Noodls - 5 hours ago]
CFPB issues third annual Plain Writing Act comp... [Published JD Supra - 5 hours ago]
Overdraft protection can add up to hefty fees o... [Published Red Eye Chicago - 5 hours ago]
Corporations scoop up rental homes [Published The Destin Log - 6 hours ago]
Small purchases trigger overdraft protection [Published WEAR TV 3 - 6 hours ago]
The MReport Webcast: Friday 8/1/2014 [Published The MReport - 7 hours ago]
Overdraft Fees Often Cost More than Your Purchase [Published FOXBusiness.com - 7 hours ago]
Headline News from PaymentsNews.com - August 1,... [Published Glenbrook Partners - 8 hours ago]
McHenry Opening Statement on CFPB Disrimination [Published Rep. Patrick McHenry - YouTube Channel - 8 hours ago]
Are Overdraft Fees Really Just Loans Charging 1... [Published BusinessWeek - 8 hours ago]
New moves to protect military members from fina... [Published Yahoo! Finance - 8 hours ago]
GAO issues report on CFPB civil penalty fund [Published JD Supra - 9 hours ago]
Why Debt Collectors Love Las Vegas [Published Vocativ - 9 hours ago]
​Beware fraudsters targeting the MoneyPak cash ... [Published CBS News - 9 hours ago]
You’re Twice As Likely To Pay Overdraft Fees Wi... [Published Think Progress - 10 hours ago]
AFSA, Ally, CPS Refute Claims in Recent Times A... [Published Auto Remarketing - 10 hours ago]
Republican Lawmakers Bring GAO into CFPB Discri... [Published Auto Remarketing - 10 hours ago]
Are You in Medical Debt Trap? [Published Colchester Bulletin - 10 hours ago]
3 new consumer reports look at tricky bank, pho... [Published Cleveland.com - 10 hours ago]
Senator Grassley probes U.S. CFTC's spending on... [Published CNBC - 10 hours ago]
CFPB Report Attacks Courtesy Pay [Published Credit Union Times - 10 hours ago]
CFPB Speaks out Against High Overdraft Charges [Published Atlanta Journal And Constitution - 10 hours ago]
CFPB Speaks out Against High Overdraft Charges [Published Black Enterprise - 10 hours ago]
Study leads to false conclusions about US debt [Published CreditCards.com - 11 hours ago]
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Blogs

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McHenry Opening Statement on CFPB Disrimination [Published Rep. Patrick McHenry - YouTube Channel - 8 hours ago]
<a style="font-size: 15px; font-weight: bold;font-decoration: none;" href="http://www.youtube.com/watch?v=QW3yy6EsAqo&feature=youtube_gdata"&gt;McHenry Opening Statement on CFPB Disrimination Congressman Patrick McHenry (NC-10), Chairman of the House ...
You’re Twice As Likely To Pay Overdraft Fees Wi... [Published Think Progress - 10 hours ago]
CREDIT: Shutterstock Despite its name, signing up for “overdraft protection” with your checking account leaves banking customers far more likely to pay overdraft fees, according to a new study of the policies by the Consumer Financial Protection ...
The Morning News: More Jobs for America, Gaza T... [Published The Stranger, Seattle's Only Newspaper - 12 hours ago]
The US's job market continues to grow: "U.S. employers extended their solid hiring into July by adding 209,000 jobs. It was the sixth straight month of job growth above 200,000, evidence that businesses are gradually shedding the caution that had marked ...
Banks Fees Exceed Overdraft Amounts, CFPB Study... [Published Marketwire - Breaking News Releases - 14 hours ago]
WASHINGTON, DC--(Marketwired - August 01, 2014) - Yesterday, the Consumer Financial Protection Bureau released a report highlighting the need for robust reform on bank overdraft practices. In response Center for Responsible Lending president Mike Calhoun ...
Frontrunning: August 1 [Published Zero Hedge - 16 hours ago]
As we predicted yesterday , the "big" Gaza ceasefire lasted all of a few hours ( Reuters ) To Lift Sales, G.M. Turns to Discounts ( NYT ) Espirito Santo Family’s Swift Fall From Grace Jolts Portugal ( BBG ) Argentine Debt Feud Finds Much Fault, Few Fixes ...
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Audio/Video

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Warren’s World [Published Slate Magazine - Apr 18 2014]
Stocks March Higher After the Fed Minutes [Published Wall Street Journal What's News - Apr 09 2014]
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Press Releases

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RouteOne Educates Dealers On The Forthcoming Sc... [Published Financial Services - Jul 21 2014]
USHCC Responds to ACE Settlement with CFPB [Published GlobeNewswire: Acquisitions News - Jul 10 2014]
ACE Cash Express, Inc. Conference Call to Discu... [Published Financial Services - Jul 10 2014]
ACE Cash Express Issues Statement on CFPB Settl... [Published Financial Services - Jul 10 2014]
GE Capital to Pay $225 Million for Discriminato... [Published Financial Services - Jun 20 2014]
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