“Dear CFPB” wish lists urge action on mortgages, payday advances, prepaid cards

“Dear CFPB” wish lists urge action on mortgages, payday advances, prepaid cards

The buyer Financial Protection Bureau has exposed for company, its mailbox piled high with wish-lists from customer advocacy teams in what the agency that is new tackle first.

While consumer groups cheer the arrival associated with CFPB, the banking industry as well as other economic solutions providers such as for example payday loan providers, loan companies, credit rating bureaus and bank card issuers are less enthusiastic and stress that any brand new laws might be high priced and burdensome. Many lawmakers that are republican those issues and also have threatened to block the Senate nomination of Richard Cordray to head the agency.

The bureau is limited to enforcing existing consumer protection regulations and generally cannot propose new rules until the CFPB has a confirmed director in place. 继续阅读““Dear CFPB” wish lists urge action on mortgages, payday advances, prepaid cards”