Agency’s Tally of Credit Card, Mortgage Complaints: 13,210
The Consumer Financial Protection Bureau received 13,210 complaints from credit card and mortgage holders between July 21, 2011, when the agency was launched, and Dec. 31.
The agency’s consumer response team began ...
Eastwood Ad Pays Tribute to Chrysler, Michigan Comeback
In his trademark raspy, no-nonsense delivery, Clint Eastwood narrated a tribute to Chrysler and the rest of the Michigan auto industry in a TV ad during halftime of yesterday’s Super Bowl.
It was a very timely ...
New Consumer Agency, FTC Agree to Coordinate Efforts
The venerable Federal Trade Commission had been working to protect consumers from unfair business practices for 96 years when Wall Street reform in 2010 created the Consumer Financial Protection Bureau to expand ...
Limiting Immunity for Banks Key in Foreclosure ‘Robo’ Deal
This coming week may finally see a settlement – as high as $25 billion – between states and the nation’s top lenders over improperly processed foreclosures by hired “robo-signers.”
In the final stretch, ...
Geithner Responds to GOP Attacks on Financial Reform
U.S. Treasury Secretary Timothy Geithner has provided a list of Wall Street reform’s accomplishments as GOP presidential candidates have vigorously assailed the Dodd-Frank legislation of 2010, the impetus for ...
N.Y. AG Sues BofA, Chase, Wells Fargo Over Mortgage Database
New York Attorney General Eric Schneiderman has sued the largest U.S. banks – Bank of America, JPMorgan Chase and Wells Fargo – charging that the private “mortgage electronic registry system,” known as MERS, ...
Treasury Plan Aims for Broader 401(k) Retiree Options
A proposal announced today by the Treasury Department would modify regulations to make it easier for retirees to choose to receive their 401(k) savings as a stream of income in regular payments – as in annuities ...
Obama: Refi Plan Saves ‘Underwater’ Borrowers $3,000 A Year
In a sweeping new plan to help millions of “underwater” homeowners, President Obama today said borrowers can save $3,000 a year on average if Congress approves his program with a price tag of $5 billion to $10 ...
What’s Behind Freddie Mac’s Bet on High-Interest Mortgages?
Taxpayer-subsidized Freddie Mac bet against homeowners’ ability to refinance out of high-interest mortgages, even as it made it difficult for them to do just that, according to a published report by ProPublica ...
Small Businesses Got $3.5B in Lending from Jobs Act Fund
The Small Business Lending Fund has helped issue $3.5 billion in loans to businesses by providing capital to qualified community lenders, according to the U.S. Treasury.
A report sent to Congress this month by Treasury ...
