Credit Reports Riddled With Errors, FTC Confirms
“These findings of widespread and damaging errors… underscore once again how important the [CFPB] is, and how important it is for the Senate to confirm Richard Cordray as Director.”
Tag Archives: CFPB
Tell the Senate to Confirm Richard Cordray and Let the CFPB Do Its Job
Another battle is brewing over the Consumer Financial Protection Bureau. President Obama has renominated Richard Cordray as director, but 43 Senators have threatened to once again block his appointment unless the agency is dramatically weakened. Make no mistake: what we’re facing is an attempt to
Small Businesses Overwhelmingly Back CFPB
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
AFR in the News: Cordray Nomination Shows Consumer Bureau Battle Lines Unmoved
While Republicans threaten to once again insist on weakening changes in the CFPB’s governing structure before considering a nominee for director, Richard Cordray may be winning over some elements of the banking world, according to Bloomberg.
AFR Statement on Re-Nomination of Richard Cordray
“The Senate now has a second chance to confirm this commendable nominee. It should.”
AFR in the News: CFPB Limits Dual-Track Foreclosures
“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
AFR Statement on CFPB Mortgage Servicer Rule
“[W]hile the final rule is an improvement over the proposed rule, it does not go far enough to ensure fair treatment of borrowers. We urge the CFPB to immediately consider improvements, both on its own and through the interagency guidance process.”
AFR in the News: No Get Out of Jail Free Card for Unaffordable Loans
AFR Executive Director Lisa Donner talks to NPR about the importance of holding mortgage lenders accountable for unaffordable loans.
AFR Statement on CFPB Mortgage Lending Rule
“[P]ortions of today’s rule should have been stronger, and the CFPB has put one very important question on the table for further comment, creating a risk of further slippage.”
AFR in the News: CFPB Readies New Mortgage Rules as Banks Seek More Time
The rules… are “likely to resemble” an October draft that “extended a legal safe harbor to loans issued at prime interest rates to borrowers whose total debt-to-income ratio doesn’t exceed 43 percent.”