Obama Recess Appointments Slapped Down by DC Circuit, CFPB at Risk

By: Saturday January 26, 2013 4:00 pm

What can only be described as a blockbuster opinion was just handed down by the DC Circuit in the case of Canning v NLRB, the validity of President Obama’s recess appointments has been slapped down. Here is the full opinion. The three judge panel was Chief Judge David Sentelle, Karen Henderson and Thomas Griffith, all Republican appointees.


Obama Nominates Mary Jo White For SEC Commissioner and Richard Cordray to Head CFPB

By: Thursday January 24, 2013 2:15 pm

President Obama announced his nominees for heading the Securities and Exchange Commission and the Consumer Financial Protection Bureau today.

CFPB Looks Into Deceptive Mortgage Advertising

By: Tuesday November 20, 2012 6:45 am

With the dismaying foreclosure fraud settlement in the rear view mirror and happy days here again for the housing market (at least that’s what the analysts tell me), you’d be surprised to know that lenders continue to work their hardest to rip off their customers. Two regulators have opened an investigation into their deceptive marketing tactics

CFPB Releases Mortgage Servicing Rules Under Consideration

By: Tuesday April 10, 2012 7:30 am

The Consumer Financial Protection Bureau has begun its rulemaking process for mortgage servicing, starting with a description of the rules they will consider. The formal proposal of servicing rules will come this summer, and the final rules will get promulgated in January 2013.

Dayen’s Roundup from March 26, 2012

By: Tuesday March 27, 2012 6:15 am

Dayen’s news roundup from Monday Standing Day, March 26, 2012, including stories on Trayon Martin, forclosures, Richard Cordray, Syria, Turkey, bailouts, mic check, David Cameron, NLRB, Romneycare, Laura Richardson, Wisconsin, Tea Party and more.

CFPB Seeks Public Input for Nominees to Consumer Advisory Board

By: Friday February 24, 2012 7:45 am

Here’s kind of a neat twist: the Consumer Financial Protection Bureau wants public input for nominations to a Consumer Advisory Board, an outside group of experts who will advise CFPB on the emerging consumer protection challenges and the desired focus of the agency.

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.

Release on Foreclosure Fraud Settlement Looks Broader Than Advertised

By: Wednesday February 1, 2012 4:21 pm

In his statement on the Administration’s new housing policies, CFPB Director Richard Cordray makes a fairly stunning response, considering it’s posted at the White House blog: “Documents were falsified,” which means criminal fraud. That raises concerns about how broad is the release from criminal liability contained in the proposed settlement.

McHenry Plans to Embarrass Himself Again With CFPB Hearing

By: Thursday January 12, 2012 12:30 pm

The last time Patrick McHenry, the Billy Zabka of the House Republican caucus, held a hearing with a member of the Consumer Financial Protection Bureau, it didn’t turn out too well. He called Elizabeth Warren a liar and generally tried to bully her, and received quite a backlash in the process.

How about a Real Solution to Obstructionism

By: Thursday January 5, 2012 4:00 pm

The correct way to stop problems caused by a perversion of Constitutional intent is not to lay on top of one absurd system another boundary-pushing interpretation of Constitutional power. The correct solution is to fix the root source of what is causing the problems to begin with. Unfortunately, though, that is not how President Obama is going to deal with Senate Republicans’ latest obstructionism to support existing law.

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