“Regulators have to get serious about implementing this law,” AFR policy director Marcus Stanley told the Washington Post. “The derivatives market is dominated by insured banks,” which means taxpayers would be on the hook if they ran into trouble, he said.
“We expected that it would be hard to keep what we’d won and do more going forward,” AFR’s Lisa Donner tells USA Today. “It’s been slower and harder than we’d hoped.”
Combing through a 1000-page contract, the Tribune found “some eye-opening fees.” Such as $2.95 for “reloading your account online using a credit card.”
“Agencies like the CFPB only come around once in a century,” John Wasik writes on Forbes.com, citing AFR’s summary of the bureau’s work to date.
Tell Washington to stand firm against Wall Street’s latest strategy of evasion.
84% say they support the consumer Bureau, and most are Republicans in a new poll commissioned by Small Business Majority and sponsored by the Center for Responsible Lending
“Mortgage servicers will face greater limits on their ability to foreclose on a borrower while simultaneously negotiating a loan modification under new rules issued by the U.S. Consumer Financial Protection Bureau,” Bloomberg’s Carter Dougherty reports. The new rules “go further” than the bureau’s first proposal
Fund backed by physical copper “effectively creates a corner on the market,” AFR’s Marcus Stanley tells The New Republic.
New Demos report documents the swollen growth of the financial economy at the expense of the real economy.
AFR joins 10 housing groups in asking OCC to downgrade Wells Fargo for its harmful mortgage and loan servicing practices.