Archive | CFPB

CFPB Releases Report Detailing Complaints Against Big Three Credit Bureaus

Complaints One of the big responsibilities of the Consumer Financial Protection Bureau is to hear complaints from consumers. In the 21 months ending September 2021 they heard over 700,000 complaints against Equifax, Experian and TransUnion. This is 50% of all complaints received. Obviously consumers are not satisfied with the trio. In 2021 those companies reported […]

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Consumer Financial Protection Bureau; We Knew You Well

Goodbye, CFPB Fines of $1 Outstanding article by David Lazarus about the current CFPB. The title, “Goodbye, CFPB Fines of $1”. This agency has always been controversial since it was designed by Elizabeth Warren and established by the Dodd Frank in 2011. One ironic situation is the status of the Director, who is currently Kathy […]

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Supreme Court Rules on CFPB Constitutionality

SCOTUS Case Pending Many of you might have heard that there was a case pending before SCOTUS concerning whether the Consumer Financial Protection Bureau was unconstitutional. This is their decision. A couple of my comments follow. This case was started by a law firm, Seila Law, in Orange, CA. The CFPB wanted to investigate them […]

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I said then and I will say it now, “This is not going to happen.” Director Mulvaney did not understand the situation. Kathy Kraninger ditched the idea the day she came in. Estimates of the costs for the government to change their site and for lending companies to change their files would be millions and […]

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Many People In Real Estate And Banking Have Extremely Poor Views Of The Consumer Financial Protection Bureau Too expensive, too regulatory, waste of taxpayer money. As most of you know, it was a product of the Dodd Frank Act. However, they have recently produced some great source materials for everyone, especially for young people starting […]

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CFPB Update

Kathy Kraninger Is The New Director Of The 1,500 Employee Agency She was confirmed by a vote of 50-49 in the Senate and replaces the controversial Acting Director Mick Mulvaney. He was her boss at the Office of Management and Budget. Who Is She? Republicans say that she has been an outstanding government employee for […]

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