ContractsProf Blog

Editor: D. A. Jeremy Telman
Valparaiso Univ. Law School

A Member of the Law Professor Blogs Network

Monday, January 13, 2014

Prospects for Reform at the Consumer Financial Protection Bureau

CFPB
President Obama announcing nomination of Richard Cordray as CFPB Director

The New York Times reported last week on what it called The Consumer Financial Protection Bureau's (CFPB) next "crusades."  That would not be my preferred term, but yes, the regulatory agenda is ambitious. 

As the story recounts, The CFPB has already fined major companies, including American Express, GE Captial Retail Bank and Ocwen Financial for misleading business practices.  Last Friday, it issued new regulations for the mortgage industry.  

The CFPB's agenda in the coming year includes the following areas:

  • Arbitration (see our earlier blog post on the CFPB's preliminary report);
  • Bank overdraft fees;
  • Student loans;
  • Debt collection;
  • Credit report disputes; and 
  • Prepaid cards

It is an ambitious agenda.  Let's see if it will have much of an impact on consumer financial protection.

[JT]

http://lawprofessors.typepad.com/contractsprof_blog/2014/01/prospects-for-reform-at-the-consumer-financial-protection-bureau.html

Current Affairs, In the News | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef01a510bb7694970c

Listed below are links to weblogs that reference Prospects for Reform at the Consumer Financial Protection Bureau:

Comments

Post a comment