Cordray Announces Resignation as CFPB Director
After months of speculation, the Director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, announced Wednesday, November 15 that he would be stepping down from his post by the end of the month. His announcement comes just days after an internal...
Subprime Auto Loans Driving Debt Rise, Face Regulatory Scorn
According to the New York Fed, household debt reached $13 trillion in the 3rd quarter of 2017. Home mortgages remain the bulk of that balance at $8.7 trillion, but a surprise industry caught the attention of the Fed- car loans. At the end of September, auto loans rose...
CFPB Responds to Tribal Lenders’ Petition to Supreme Court
The Consumer Financial Protection Bureau (CFPB) filed its response on November 6th to a petition by two tribal lending entities (TLEs) to have the U.S. Supreme Court hear a case on the power of the federal consumer watchdog to issue civil investigative demands (CIDs)...
