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

While consumer groups cheer the arrival associated with CFPB, the banking industry along with other economic services providers such as for example payday lenders, 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 Republican lawmakers share those issues and now have threatened to block the Senate nomination of Richard Cordray to go the agency. Continue reading