Items Tagged with 'Consumer Financial Protection Bureau'


  • Should you use home equity to delay Social Security?

    The CFPB warned against it, but experts say it works
    For some time, reverse mortgage lenders touted a strategy that involves obtaining a HECM early on in retirement in order to delay taking Social Security, therefore maximizing its benefit. But then the CFPB issued a warning against it. Now, retirement researchers and financial advisors say the strategy still has real merit, but suitability depends on a case-by-case basis.
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  • Monday Morning Cup of Coffee: With Kavanaugh confirmed, will Supreme Court take aim at the CFPB?

    New swing justice previously declared bureau unconstitutional
    In case you’ve been living under a rock for the last few days (and if you have, good for you…but how’d you get out from under there???), the Supreme Court has a new justice and balance of power of the nation’s highest court just swung decidedly to the right. So, does that mean that the CFPB will soon have to argue for its structure or very existence before the Supreme Court? The new justice has already declared the bureau unconstitutional. Here's a look at what's next.
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  • Judge tosses class action suit against Zillow

    Rules Zillow did not defraud investors by not revealing CFPB investigation
    A federal judge dismissed a securities fraud class action suit against Zillow on Tuesday. The suit alleged that the real estate giant defrauded investors by not disclosing that the CFPB was investigating its co-marking program for possible RESPA violations. But according to the judge, in the plaintiff’s attempt to prove that Zillow knowingly committed wrongdoing, they actually proved otherwise.
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  • Top CFPB official regrets racist comments that caused agency uproar

    Eric Blankenstein says he’s committed to his job, despite calls for his dismissal
    An official at the Consumer Financial Protection Bureau is working hard to taper the backlash he endured last week when racially insensitive blog posts emerged from his past. Eric Blankenstein sent an agency-wide email to his colleagues on Monday expressing regret for his “poor judgment” and word choice, and stressing his commitment to carrying out the bureau’s fair lending mandate even though some are calling for his departure.
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  • Monday Morning Cup of Coffee: Elon Musk settles with SEC, steps down as Tesla chairman

    Plus, former Ocwen exec coughs up cash for insider trading, CFPB official is blasted for racism
    Securities fraud, insider trading and allegations of racism inside the CFPB – we’ve got a solid dose of drama to kick off your week. Read about the details of Elon Musk’s settlement with the SEC – and the hefty fine he and Tesla will pay to wronged investors. Plus, a former Ocwen exec pays the price for insider trading, and a CFPB official suffers serious backlash from his colleagues when racists blog posts emerge from his past.
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  • CFPB opening southeast regional office in Atlanta

    Bureau already has regional offices in New York, Chicago, and San Francisco
    The Consumer Financial Protection Bureau, which already has regional offices in New York, Chicago, and San Francisco, is planning to open up a southeast regional office in Atlanta. The bureau is not actually establishing a new regional office in Atlanta. Rather, it’s relocating one.
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  • Bipartisan push begins in Senate to expand mortgage access for self-employed borrowers

    Self-Employed Mortgage Access Act introduced
    Ever since the Qualified Mortgage rule went into effect a few years ago, borrowers who don’t have a traditional source of income have had a hard time getting a mortgage. Well, a bipartisan push is underway in the Senate that could change that. Late Tuesday, Sens. Mark Warner, D-Virginia, and Mike Rounds, R-South Dakota, announced they are introducing legislation designed to make it easier for self-employed borrowers to get a mortgage.
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  • CFPB student loan ombudsman resigns, rebukes Mulvaney's anti-consumer efforts

    NPR reports that Seth Frotman resigns in protest of bureau’s direction
    In a scathing letter addressed to Acting Director Mick Mulvaney, Seth Frotman resigned from his position as assistant director and student loan ombudsman at the Consumer Financial Protection Bureau on Monday, accusing the agency of turning its back on young people and their financial futures.
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