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United States: Your Complaints Just Went Public! The CFPB Expands Online Access To Consumer Complaint Data - Loeb & Loeb LLP

Keeping its promise to make consumer complaints available for all the consumer financial products and services it oversees, the Consumer Financial Protection Bureau yesterday announced that it has added some 90,000 additional complaints about mortgages, bank accounts and services, student loans, consumer loans, and credit cards to its online Consumer Complaint Database.        

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Found 1 month ago on channel Mondaq

United States: Consumer Financial Protection Bureau Remains In Limbo - Proskauer Rose LLP

The authority and leadership of the Consumer Financial Protection Bureau (CFPB), a body created by Dodd-Frank to regulate consumer protection of financial products and services, continues to remain in limbo in the wake of the recent ruling by the United States Court of Appeals District of Columbia Circuit invalidating President Obama’s recess appointments to the National Labor Relations Board.

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Found 1 month ago on channel Mondaq

United States: Financial Services Alert - Pepper Hamilton LLP

On January 18, 2013, the Consumer Financial Protection Bureau issued a final rule implementing an amendment to the Equal Credit Opportunity Act that revises Regulation B’s provisions regarding appraisals in connection with a consumer’s application for a loan secured by a first lien on a dwelling.

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As Battle Brews Over Financial Watchdog Agency, A Look at What’s It’s Done So Far

When an appeals court ruled that President Obama’s recess appointments of members of the National Labor Relations Board was unconstitutional, it also threw into doubt the validity of the recess appointment last January of Richard Cordray, director of the Consumer Financial Protection Bureau. There was already a clash shaping up over Cordray’s reappointment; Obama nominated him Thursday, and Senate Republicans vowed to block the nomination, setting up the same stalemate that led to last year’s recess appointment in the first place.  The CFPB has had a turbulent childhood, so to speak, since it began operations in July 2011 (for one thing, it operated without a director for six months). Last week’s NLRB court decision sets a legal precedent, but it won’t affect the CFPB’s day-to-day operations, at least not in the near future. “Going forward, we will continue our essential work to protect American consumers,” a spokesperson says. The White House can  — and probably will ...

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United States: The CFPB And Future Of Credit Counseling - Venable LLP

As the Consumer Financial Protection Bureau continues to announce enforcement actions and regulatory changes to the consumer financial legal landscape, there are some signs about how the Bureau will look at credit counseling services.

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