Low Regulator Assertiveness Part of Problem With Mitigating Financial Risks

By: Tuesday June 12, 2012 11:00 am

Jamie Dimon testifies before the Senate Banking Committee tomorrow, and this Bloomberg report alleges that he was personally responsible for keeping regulators at bay from the chief investment office, the one responsible for all the Fail Whale losses, which could reach past $5 billion at this point.

 

CFPB Launches Inquiry Into Overdraft Fees on Bank Accounts

By: Wednesday February 22, 2012 7:15 pm

The Consumer Financial Protection Bureau has sprung into action pretty decently since Richard Cordray was installed as director. CFPB has presented new, simple-to-read mortgage forms, and submitted a plan to regulate debt collection agencies and credit reporting bureaus. Today Cordray is in New York to discuss overdraft fees, a particularly egregious money-making scheme for banks and he’s inviting consumer feedback.

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