Items Tagged with 'Democrats'

ARTICLES

  • Waters introduces legislation to prevent FHA foreclosures

    Bill would strengthen FHA mortgage servicer requirements
    In an attempt to prevent foreclosures on the Federal Housing Administration’s borrowers, Democrats introduced a new bill in Congress. Democrats explained the new legislation would strengthen the requirements for and increase oversight of FHA mortgage servicers.
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  • CFPB Acting Director Mulvaney refuses to answer Democrats’ questions

    Tells Congress to change oversight requirements
    Mulvaney has made no secret of his own disapproval of how the Consumer Financial Protection Bureau is set up, once calling it a “sick, sad joke.” But now, he is trying his hand at forcing the Democrats to bring further accountability to the bureau by not answering congressional Democrats' questions about his operations because, in short, he doesn’t have to.
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  • Democrats call for increased funding for federal housing programs

    Call for forgiveness of national flood insurance programs
    Ranking Member of the House Financial Services Committee Maxine Waters, D-Calif., joined by the support of other Democratic members of Congress, sent several letters to congressional appropriators highlighting the importance of federal housing programs. The letters encouraged an increase in funding for certain housing programs and even debt forgiveness for the National Flood Insurance Program.
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  • Democrats call out Mulvaney’s reported changes to CFPB fair lending enforcement

    53 Democrats, including Warren, Waters, Brown, Menendez, want answers
    A group of more than 50 Congressional Democrats are questioning the motivation of Consumer Financial Protection Bureau Acting Director Mick Mulvaney’s reported decision to strip the agency’s Office of Fair Lending and Equal Opportunity of its enforcement powers. The Democrats want to know what exactly Mulvaney is planning to do when it comes to fair lending.
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  • Senate Democrats press FTC for review of data security at Experian, Transunion

    Prominent Senators ask FTC to ensure that consumers’ data is secure
    The Federal Trade Commission is already investigating the massive data breach at Equifax that exposed the personal information of 143 million U.S. consumers to hackers, but a number of top Democrats in the Senate want the agency to extend its investigation to the other big credit reporting agencies.
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  • Democrats declare opposition to Mnuchin, delay confirmation vote

    Top Democrats speak out about Trump Treasury nominee
    The Senate Finance Committee planned to meet Monday evening to vote on the confirmation of Steve Mnuchin, the Trump administration’s choice to lead the Department of the Treasury. But that vote didn't happen. Senate Democrats instead moved to delay the vote, while other party leaders declared their opposition to Mnuchin as Treasury Secretary.
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  • Democratic state AGs join fight to save CFPB from Trump

    Seek to intervene in PHH fight over CFPB independence
    The embattled Consumer Financial Protection Bureau, which top Congressional Democrats recently pledged to defend against potential attacks from the Trump administration, has more defenders in its corner now, as more than a dozen state attorneys general are joining the fight to protect the CFPB.
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  • Democrats want "victims of Mnuchin foreclosure machine" to testify at Treasury nominee hearing

    25 senators call for OneWest customers to speak at Mnuchin's hearing
    Senate Democrats recently began collecting complaints from consumers about Steve Mnuchin and OneWest Bank in preparation for Mnuchin’s confirmation hearing to serve as the next Secretary of the Department of the Treasury. What wasn’t known at the time is what exactly the Democrats planned to do with those complaints. But Friday, the Democrats showed their hand, asking the leadership of the Senate Committee on Finance to allow “victims of Mnuchin foreclosure machine” to testify at Mnuchin’s confirmation hearing.
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  • Former CFPB attorney pretty much just confirmed the worst fears of the mortgage industry

    We may be right, after all
    In "The Tragic Downfall of the Consumer Financial Protection Bureau," Ronald Rubin, a former enforcement attorney at the Consumer Financial Protection Bureau and former chief advisor on regulatory policy at the House Financial Services Committee, highlights what he calls the heavy politicization of the CFPB. In doing so, Rubin also just confirmed the worst fears of the mortgage industry.
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  • Elizabeth Warren pledges to fight Trump, Republicans on Dodd-Frank, CFPB

    CFPB architect: Big banks cannot be 'turned loose' on U.S. economy
    Just in case anyone thought that the Democratic Party plans to stand idly by while President-elect Donald Trump and the Republican Party move to undo many of the financial reforms of the last eight years, one of its most outspoken members pledged this week to fight Trump and the Republicans every step of the way.
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