Items Tagged with 'Elizabeth Warren'

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  • Did Mick Mulvaney just drastically change how the CFPB enforces fair lending laws?

    Reportedly strips Office of Fair Lending of its enforcement powers
    The way the CFPB enforces fair lending laws could be about to significantly change after CFPB Acting Director Mick Mulvaney reportedly stripped the bureau’s Office of Fair Lending of its enforcement powers. Former CFPB Director Richard Cordray, Sen. Elizabeth Warren, and fair housing groups bemoaned the move.
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  • Top Democrats want credit reporting agencies severely punished for Equifax-style breaches

    Bill would bring stiff financial penalties for data breaches
    Equifax may be facing various legal, regulatory, and financial consequences for the data breach that exposed the personal information of 145.5 million U.S. consumers, but two top Senate Democrats want there to be much stiffer penalties should any credit reporting agency, Equifax included, fail to protect consumer data again.
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  • Warren accuses Mulvaney of hobbling CFPB under guise of data security

    CFPB architect wants answers on acting director’s actions
    Sen. Elizabeth Warren has never been shy when it comes to defending the CFPB, the agency she helped form after the financial crisis. So it should come as no surprise that Warren is finding fault in Mick Mulvaney’s actions as the CFPB’s acting director. What may come as a bit of surprise is that Warren appears to believe that Mulvaney is actively working to weaken the agency.
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  • Sen. Warren on the fate of the CPFB

    Who should lead the bureau next?
    Interesting enough, this weeks marks the seven-year anniversary of when Sen. Elizabeth Warren, D-Mass., called Consumer Financial Bureau Protection Director Richard Cordray to come to Washington D.C. and run the newly created agency. Warren weighs in on the discussion of Cordray leaving the bureau.
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  • Trump picks Warren ally, former CFPB assistant director Rohit Chopra for FTC post

    Also served as senior adviser at Department of Education in Obama administration
    In what might seem like an unlikely move, President Donald Trump selected Rohit Chopra to serve as a member of the Federal Trade Commission. Chopra’s selection comes as bit of surprise, considering that Chopra is a close ally of Sen. Elizabeth Warren, a former member of Hillary Clinton’s transition team, a former Obama administration official, and a former assistant director of the CFPB. But due to FTC rules, some bipartisanship is necessary among the FTC Commissioners.
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  • Ginnie Mae investigating aggressive lenders targeting veterans for quick refinances

    Review comes on heels of CFPB report, inquiry from Sen. Elizabeth Warren
    Ginnie Mae is looking into a number of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae’s investigation comes at the urging of Sen. Elizabeth Warren, D-Massachusetts, who raised concerns about lenders that may be “aggressively and misleadingly marketing the refinancing of mortgages backed by the Department of Veterans Affairs.”
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  • Warren calls on Fed to boot 12 Wells Fargo board members over fake accounts

    Says board members’ lax oversight allowed scandal to grow
    The fallout from Wells Fargo’s fake accounts scandal has been rightfully significant, but if Sen. Elizabeth Warren, D-Mass., has her way, the fallout will extend to a place it’s barely touched so far – Wells Fargo’s boardroom. On Monday, Warren sent a letter to the Federal Reserve Board of Governors, asking the Fed to remove all 12 of Wells Fargo’s board members who served during the time period that the fake account scandal took place.
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  • Warren, Lankford lead bipartisan effort to shine light on government settlements

    Senate bill would increase transparency into negotiations, settlement terms
    For the third time in the last four years, Sen. Elizabeth Warren, D-Mass., is leading a bipartisan push to shed some light on how the government reaches the occasionally massive settlements with businesses for various forms of misconduct. Here are the details on the "Truth in Settlements Act."
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  • Katie Porter, California mortgage settlement monitor and Warren protégé, running for Congress

    Elizabeth Warren: "There's no one I trust more to take on Donald Trump"
    The coming battle for control of Congress in 2018 has a new combatant, one that would bring significant experience in the mortgage space to the House of Representatives. Katie Porter, who served as California’s independent monitor for the nationwide $25 billion National Mortgage Settlement and boasts Sen. Elizabeth Warren, D-Mass. as a mentor, announced that she is running for a seat in the House of Representatives in 2018.
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