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Tag Archives: Consumer Financial Protection Bureau

Govt. to supervise credit reporting for first time

NEW YORK — For the first time, companies that issue credit scores for millions of consumers which determine their credit-worthiness will be under government oversight. The Consumer Financial Protection Bureau will supervise roughly 30 firms that make up 94 percent ...

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Colleges’ bank deals saddle students with big fees

WASHINGTON — A public interest group says as many as 900 colleges are pushing students into using payment cards that carry hefty costs, sometimes even to access students’ financial aid money. The U.S. Public Interest Research Group Higher Education Fund ...

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Next up for JPMorgan’s Dimon: Facing the shareholders

NEW YORK — JPMorgan Chase CEO Jamie Dimon owned up to stock analysts and went on TV to accept blame for a $2 billion trading mistake. Next he faces shareholders, who are considerably less wealthy since the blunder was disclosed. ...

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Consumer watchdog weighs limits to mortgage fees

WASHINGTON — The government’s consumer-finance watchdog is weighing an overhaul of the fees consumers pay to obtain mortgages. The Consumer Financial Protection Bureau said Wednesday that it might ban origination fees that vary with the size of the loan, known ...

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Consumer agency softens credit card fee limit

WASHINGTON — The Obama administration’s consumer financial watchdog agency is backing off a plan to limit big upfront fees on credit cards. The Consumer Financial Protection Bureau acknowledged Thursday that its proposal would increase costs for cardholders and allow banks ...

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Federal government to propse new mortgage lending rules

WASHINGTON — The federal government plans to propose new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate accounting of their monthly mortgage payments. Congress mandated changes in the rules covering the mortgage ...

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Stirring up a fight, Obama names consumer watchdog

SHAKER HEIGHTS, Ohio — Defying Republican lawmakers, President Barack Obama on Wednesday barreled by the Senate and installed a national consumer watchdog on his own, provoking GOP threats of a constitutional showdown in the courts. Setting a fierce tone in ...

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C. Fraser Smith: ‘Rock star’ challenges banks, Wall Street

People are hurting. They’re struggling to keep their houses. They’re fighting off slick operators who promise, for a fee, to reduce their debt but then disappear with the money. Many Americans are unemployed. Are they apt to pay bills late ...

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