The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.
Readers react to the Fed warming up to CRA reforms, criticize the Democratic presidential candidates, defend Pittsburgh as a megabank attraction and more.
The agency had decided not to challenge a recent court ruling that its structure violates the separation of powers, but newly confirmed Director Mark Calabria now appears willing to the fight the case.
Freedom Debt Relief claimed it could negotiate on consumers’ behalf with creditors that in fact avoided dealing with debt settlement companies, the agency alleges.
The CFPB asked whether 10-year-old consumer protections against overdrafts are onerous or unfair, especially to smaller financial institutions, but banking industry officials largely said any changes could invite new problems.
