Consumer Financial Protection Bureau


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Consumer Financial Protection Bureau

(CFPB), independent U.S. government agency responsible for most of the federal oversight and enforcement of consumer protections relating to financial institutions and businesses, established 2011. Charged with ending unfair, abusive, or deceptive practices and promoting effective and transparent competition in consumer financial products and services, the CFPB inherited authority and responsibilities previously exercised by a wide range of other federal bodies and is the first federal agency to have consumer financial protection as its primary focus. It also is the first federal agency to supervise financial institutions known as nonbanks, such as payday lenders, debt collectors, credit reporting agencies, and private student lenders. Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010), which was enacted in the aftermath of the severe financial crisis that began in 2007, the CFPB is funded primarily by transfers from the Board of Governors of the Federal Reserve System.
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Consumer Financial Protection Bureau Considers Proposal to Overhaul Debt Collection Market, CONSUMER FIN.
bishops' Committee on Domestic Justice and Human Development, wrote a letter to the Consumer Financial Protection Bureau encouraging the agency to "act with your authority to protect consumers and families living in or near poverty from predatory financial products, especially payday loans.
The Consumer Financial Protection Bureau stated, "The debt burden is suppressing risk-taking and hindering the formation of new businesses.
Why was the confirmation of Richard Cordray as the first director of the Consumer Financial Protection Bureau (CFPB) such a gargantuan struggle?
The Dodd-Frank Act and the formation of the Consumer Financial Protection Bureau were results of those efforts.
The federal government's Consumer Financial Protection Bureau offers a wealth of financial information online--and much of it is for students.
David is the co-leader of the firm's Financial Services Litigation Practice Group and the firm's Consumer Financial Protection Bureau Team.
In an effort to reduce mortgage delinquencies and foreclosures, the Consumer Financial Protection Bureau introduced a new ser of rules outlining how mortgage lenders are required to make sure borrowers are able to make their monthly payments.
Under the new rules promulgated by the Consumer Financial Protection Bureau (CFPB), mortgage servicers' ability to impose force-placed coverage will be limited.
The president will also re-nominate Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB).
In his internet and radio address yesterday, Obama drew attention to the Consumer Financial Protection Bureau, noting that it and other regulators recently cracked down on three credit card companies, ordering them to pay $400 million to people who were misled into making purchases they didn't want.
The Consumer Financial Protection Bureau (CFPB) says in its suit that the Gordon Law Firm, led by Chance Gordon, promised distressed homeowners that the firm would secure loan modifications for them.
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