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Tag Archives: Consumer Financial Protection bureau

Did the CFPB Just Totally Blow Off CCCS and NFCC?

Adult Ed - Questions

I could not help but notice an absence of some familiar faces in an announcement by the Consumer Financial Protection Bureau (“CFPB”) today on financial education. The CFPB announced an inspired national project to help those most in need to get more education about managing their finances. You would have expected the National Foundation for Credit Counseling to have been ... Read More »

Government Agencies Request Banks Be Gentle With Borrowers

afraid alone

The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, and National Credit Union Administration are all asking banks and lenders to be gentle with borrowers. The agencies are encouraging financial institutions to work with customers affected by the federal government shutdown. They say, “Prudent workout ... Read More »

Think You Might Owe the CFPB Money in Penalties? Read This.

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Tomorrow the CFPB will publish final rules regarding the collection of money owed to the Consumer Financial Protection Bureau. It is very possible that fines levied against companies and individuals will fall under the rules. With tougher enforcements to come from the CFPB in the debt relief space, participants should be aware of the powers to collect the CFPB has ... Read More »

August 2, 2013 is the Day for the New Debt Relief Industry

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I wrote extensively about the new coverage by the Consumer Financial Protection Bureau of rules that regulate the debt relief industry. See Here It Comes. CFPB Supervision of Debt Relief Industry and Credit Counseling. The new rules were published in the Federal Register on July 3, 2013 and will go into force on August 2, 2013. – Source Get Out ... Read More »

Obama or Romney: Which One is Better for Debtors

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With the 2012 presidential election coming up and the choice left to either sitting President Barack Obama or Republican nominee Mitt Romney, anyone concerned about their personal finances might want to look at the positions of the two candidates and factor that into their voting strategy. Over the past four years the Democrats, and President Obama have been pushing for ... Read More »

Debt Collectors and Credit Bureaus to Report to the Consumer Financial Protection Bureau

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The CFPB has just announced they will be rolling out new proposed rules that will regulate consumer debt collection and consumer reporting markets. Proposed rules would mark the first time these important markets would be subject to federal supervision. “Our proposed rule would mean that those debt collectors and credit reporting agencies that qualify as larger participants are subject to ... Read More »

Will Proposed Government Programs Really Help Homeowners?

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by Cora Currier ProPublica The Obama administration has recently unveiled a string of proposals to help struggling homeowners and get the housing market back on its feet2014 part of the administration’s “We Can’t Wait” election year to-do list. Of course, the White House has made big promises before about helping homeowners, only to see them disappoint time and again. Here ... Read More »

FTC And CFPB Pledge To Work Together To Protect Consumers

It was announced today that the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have signed an agreement to coordinate efforts to protect consumers in an effort to avoid duplication of federal law enforcement and regulatory efforts. The memorandum of the two agencies’ understand can be viewed here. The Dodd-Frank Wall Street Reform and Consumer Protection Act, ... Read More »

CFPB Still Moving Ahead. Enforcement and Supervision Imminent.

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Yesterday was the last Congressional hearing I’m aware of prior to the July 21, official launch date for the Consumer Financial Protection Bureau (CFPB). There was tension that House Republicans would roll back the scope and authority of the new CFPB even before it actually began but from reports of the hearing, the gutting of the agency did not occur. ... Read More »

Credit Counseling Against Registration of Debt Relief Providers? Huh?

In what is another of the ultimate ironies of nonprofit charitable credit counseling, it appears that at least two trade associations feel nonprofit credit counselors should not have to participate in any national registration of debt relief companies with the Consumer Financial Protection Bureau. I must admit, the position against CFPB registration stumps me and seems anti-counsumer at face value. ... Read More »

CFPB is Looking for Public Comments on Debt Relief Industry

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Last week I had the pleasure of visiting the Consumer Finance Protection Bureau (CFPB) in Washington, DC. to meet with staff and attend a planning session. Elizabeth Warren started the meeting with an introduction and left the meeting in the capable and good hands of Peggy Twohig and Alice Hrdy, both who supervised debt relief issues over at the FTC, ... Read More »

Consumer Financial Protection Bureau. Amazing Website. Loaded for Bear.

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The new Consumer Financial Protection Bureau (CFPB) website is up and interested people can subscribe to updates by visiting it. Visit consumerfinance.gov. Even from their featured logo you can tell they plan to be the cop on the financial beat. The enforcement chief of the CFPB is Richard Cordray. Cordary has already indicated he plans to come out swinging with ... Read More »

What Elections Could Do to Financial Regulations

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by Marian Wang, ProPublica As Americans go to the polls today, their votes will influence a number of issues that we’ve been watching, whether it be the foreclosure scandal or implementation of financial regulation and healthcare reform–some of our favorite topics. So here’s our attempt to parse some of the election coverage and bring these issues into sharper focus: Foreclosure ... Read More »

What About S.3264 Passing? What Are The Odds?

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David sent in the following question: Hello Steve, What do you think the chances are of the Debt Settlement Consumer Protection Act S.3264 passing? I was thinking since all up front fees are now banned, maybe that will clean up the industry and S.3264 might not be needed as much now. For those not familiar with S.3264 it is the ... Read More »

Elizabeth Warren, We Got Your Back. Wall Street Better Watch Out.

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For all the fans of Elizabeth Warren for the role as the director of the new Consumer Financial Protection Bureau. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

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