Items Tagged with 'Consumer protection'

ARTICLES

  • Why consumer protection regulation is necessary — but often useless

    The TRID rule is a perfect example of good intentions colliding with reality
    The TILA-RESPA Integrated Disclosure rule was conceived as part of the CFPB’s noble goal of giving consumers information about their total loan costs before they signed documents that bound them in a 30-year contract. But for all the good intentions behind this rule, it’s just not practical. Like me, most homeowners are shopping lenders before they even know their property address, so what they are comparing are pre-qualifications or pre-approvals, not loan estimates.
    Read More
  • NYDFS: If Mulvaney’s CFPB won’t protect consumers, we will

    New York’s financial regulator pledges to fill void created by CFPB’s “troublesome” move
    If a new direction is indeed afoot at the Consumer Financial Protection Bureau, the New York Department of Financial Services is apparently ready to fill the void. In a statement released Thursday, NYDFS Superintendent Maria Vullo said that the agency is prepared to step in to address the CFPB’s “troublesome policy shift away from consumer protection.”
    Read More
  • CFPB issues warning: Don’t trick consumers into using costly pay-by-phone option

    Cites concern about companies misleading customers about payment options
    Attention financial services companies: If you offer a pay-by-phone option and steer customers to said option unnecessarily, the Consumer Financial Protection Bureau may come knocking. The CFPB said Monday that it is issuing a warning to all companies under its supervision because the agency is concerned about companies “tricking” consumers into using expensive pay-by-phone options.
    Read More
  • Mini-CFPB? Pennsylvania attorney general launches consumer financial protection unit

    Former CFPB enforcement lawyer Nicholas Smyth will lead state watchdog
    With the Consumer Financial Protection Bureau now entering its seventh year squarely in the crosshairs of the Republican Party, one state is taking matters into its own hands to ensure that its residents are protected from the unscrupulous practices of financial services companies, no matter what happens to the CFPB.
    Read More
  • 6 ways to save the family home after a death or divorce

    The CFPB needs to implement changes
    The people who succeed ownership of a home after a death or family breakup are known as "successors in interest" or "successors." However, the change in ownership is not a simple process and can a result in a lot of problems. The National Consumer Law Center is out to remedy this.
    Read More
  • Here's everything you need to know about the CFPB

    Let’s celebrate the Bureau’s 4th birthday!
    While it may seem like the Consumer Financial Protection Bureau has been around forever, the CFPB actually opened its doors just four years ago: July 21, 2011. Here's everything you need to know about the agency synonymous with financial regulation.
    Read More