Consumer Financial Protection Bureau

8:45am

Fri August 10, 2012
The Two-Way

Consumer Bureau Moves To Make Mortgages Clearer, Foreclosures Fewer

A "bank owned" sign in front of a home in Miami last October.
Joe Raedle Getty Images

Saying it wants "to protect homeowners from surprises and costly mistakes by their mortgage servicers," the Consumer Financial Protection Bureau today proposed new rules it believes would make the home loan process simpler and give struggling homeowners more of a chance to avoid foreclosures.

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10:36am

Tue April 17, 2012
The Two-Way

Former 'Car Czar' Rattner Gives Dodd-Frank A Qualified Endorsement

Steven Rattner — the "car czar" when the Obama administration was restructuring the auto industry in 2009 — today spoke in favor of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

But it wasn't exactly a double thumbs up.

On a panel at an ideas conference in New York City, Rattner noted that before the financial crisis began in 2008, Wall Street was the "global leader in finance. ... But of course, it got out of control."

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10:01pm

Tue February 21, 2012
Business

New Consumer Agency Eyes Bank Overdraft Fees

Originally published on Wed February 22, 2012 7:49 am

Customers use Bank of America ATMs in New York. The head of the Consumer Financial Protection Bureau says it is looking into ways to help consumers limit their exposure to banks' overdraft fees.
Mark Lennihan AP

The Consumer Financial Protection Bureau says it's looking to overhaul rules on overdraft fees. The new agency will be seeking data from banks about how they handle overdrawn accounts, and how they assess fees. The agency plans to use this information to help consumers limit their exposure to these costly charges.

The CFPB estimates that last year, banks made between $15 billion and $22 billion from overdraft fees.

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10:00am

Thu January 12, 2012
The Two-Way

Justice Dept. Legal Counsel Says Obama Had Recess Authority

Originally published on Thu January 12, 2012 10:01 am

President Obama acted within his legal authority to appoint Richard Cordray to lead the National Consumer Protection Bureau last week, during a period when the Senate was conducting "pro forma" holiday sessions, according to a memo released this morning by a key unit of the Justice Department.

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6:00am

Sat January 7, 2012
Economy

More Than Finance Ahead For New Consumer Chief

Transcript

SCOTT SIMON, HOST:

President Obama may have riled Republicans with his recess appointment of Richard Cordray to lead the Consumer Financial Protection Bureau, but there's bipartisan agreement on Mr. Cordray's qualifications. He served as Ohio's attorney general. Before that, he was Ohio state treasurer. For more, we're joined by our friend from the business world, New York Times op-ed columnist Joe Nocera. Joe, thanks for being with us.

JOE NOCERA: Thanks for having me, Scott.

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