News Topic: Consumers
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CFPB director is supposed to be an apolitical job
For too long, the Consumer Financial Protection Bureau's rulemaking process has been informed by its director's political affiliation. The next leader must keep the agency focused on its mission: protecting consumers. ... Read full article
Acting CFPB head calls out industry for slow complaint response times
Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic. ... Read full article
BofA CEO says consumer spending bounce signals pent-up demand
“The economy keeps moving forward and we feel very constructive about the consumer activity,” Brian Moynihan said. ... Read full article
Life got worse for the have-nots this year. Banks can help change that.
Consumer savings are up, yet so are evictions. Banks need to reach out more to those who are struggling financially, and they could use data as a guide. ... Read full article
Barrett could cement court’s restrictive view of debt collection cases
A 2019 decision by Amy Coney Barrett, then a 7th Circuit judge, cited an earlier Supreme Court ruling suggesting a high bar for plaintiffs to claim harm. But other jurists have favored a less onerous standard. ... Read full article
CFPB seeks comment on impact of credit card rules
The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented. ... Read full article