October 1, 2012 Comments Off on Amex paying $112.5M in late-fee settlements
WASHINGTON — American Express is paying $112.5 million in refunds and fines to settle regulators’ accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. The ...
Tagged with: american express Consumer Financial Protection Bureau credit cards customers debt FDIC federal reserve refunds Richard Cordray settlements
Read More »August 10, 2012 Comments Off on Consumer finance agency sets mortgage protections
WASHINGTON — The government’s consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments. Mortgage servicing companies would be required to provide clear monthly billing ...
Tagged with: Consumer Financial Protection Bureau mortgage rates mortgages Richard Cordray
Read More »July 18, 2012 Comments Off on Capital One to pay $210M over marketing tactics
WASHINGTON — The Obama administration’s consumer watchdog agency flexed its enforcement muscles for the first time Wednesday and ordered Capital One Bank to repay millions of credit card customers allegedly tricked into buying costly add-on services. Capital One will pay ...
Tagged with: Banks Consumer Financial Protection Bureau credit card customers democrats fines republicans Richard Cordray services Settlement
Read More »July 16, 2012 Comments Off on 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 ...
Tagged with: Consumer Financial Protection Bureau credit score Government Richard Cordray united states
Read More »January 17, 2012 Comments Off on Big banks must show break-up plans under new rule
WASHINGTON — The largest U.S. banks must show how they would break up their assets if they were in danger of failing, under a rule approved Tuesday. The Federal Deposit Insurance Corp. voted to require banks with $50 billion or ...
Tagged with: assets bailout Bank of America Banks Citibank FDIC Federal Deposit Insurance Corp. home prices PNC Bank Recession republicans Richard Cordray Unemployment wall street
Read More »January 4, 2012 Comments Off on 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 ...
Tagged with: Attorney General Congress Consumer Financial Protection Bureau consumer protection agency democrats Economy lenders mortgage ohio republicans Richard Cordray
Read More »October 23, 2011 Comments Off on State AGs urge confirmation of Obama pick as CFPB head
A group of state attorneys general urged members of the Senate last week to confirm Richard Cordray, President Barack Obama’s pick to be the first director of a new consumer financial regulatory agency. The National Association of Attorneys General sent ...
Tagged with: Richard Cordray Senate Banking Committee
Read More »July 18, 2011 Comments Off on Former Ohio AG to lead consumer agency
WASHINGTON — President Barack Obama moved Monday to get a new consumer protection bureau up and running, introducing a former Ohio attorney general as director, in an apparent acknowledgment that the woman who masterminded the agency couldn’t win Senate confirmation. ...
Tagged with: Barack Obama Consumer Financial Protection Bureau Richard Cordray washington
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