A federal appeals court on Tuesday ruled a key part of Barack Obama’s Dodd-Frank law unconstitutional, calling it a “grave threat to individual liberty.” This tees up yet another case for an evenly divided Supreme Court, the balance of which will be decided by whether Donald Trump or Hillary Clinton is elected in November.
CFPB Director Richard Cordray says the agency is proposing “a rule aimed at ending payday debt traps by requiring lenders to take steps to make sure consumers have the ability to repay their loans rule to end payday debt traps.”
President Barack Obama is bringing the subprime-mortgage crisis back, fueled by the progressives’ political urge to treat borrowed money loans as a “right” that everyone is “entitled,” and by the willingness to dismiss mathematical probability as a racist conspiracy.
Half of America’s children have a parent with a criminal record, creating many “barriers to opportunity” for parents and children, says the liberal Center for American Progress.
One of the unusual aspects of Dodd-Frank is that, in effect, it removed the CFPB from the Congressional appropriations process and gave CFPB what amounts to an unlimited budget.
This foray into the potholes and backroads of Tennessee is a new area of regulatory control, even for the CFPB. But, as American Banker reported, Congress granted the CFPB the authority to do so in an obscure passage of the Consumer Financial Protection Act of 2010, known more commonly as the Dodd-Frank Act.
The federal government aims to “protect” consumers by regulating away a payment option that’s popular with low-income Americans.
Senator Elizabeth Warren (D-Mass) has not commanded much public attention since Hillary Clinton started channeling Warren’s book, Fighting Chance, which claims the “system is rigged” against the middle class because it is controlled by and for the elites who tilt the game in their favor. But in a bold effort to take all the oxygen out of the Clinton campaign, Senator Warren (D-Mass.) laid out a bare-knuckles legislative road map on Wednesday to kick Wall Street in the teeth.
President Obama attacked the GOP budget for weakening financial regulation that is key to “protecting working Americans’ paychecks” during Saturday’s weekly address. Transcript as Follows: “Hi, everybody. Five years ago, after the worst financial crisis in decades, we passed historic
The Consumer Financial Protection Bureau seems to be playing a much larger role in the Obama administration’s Operation Choke Point these days. But you wouldn’t know that from the gentle questioning of CFPB Director Richard Cordray on Capitol Hill.
Who’s holding the watchdogs accountable? The head of the CFPB shoots down a Congressmember’s question about his agency’s lavish spending. “Why does that matter to you?”