 USA TODAY | New consumer financial watchdog agency gains power after Obama appoints … Washington Post WASHINGTON — With its first chief now in place, the new Consumer Financial Protection Bureau will start enforcing rules aimed at reining in abusive mortgage servicers, student lenders and payday-loan companies. It will be months, though, … Richard Cordray appointment 'turns lights on' at consumer bureau Obama Appoints Cordray To Serve As Top Consumer Watchdog Obama bypasses Senate, installs new consumer chief |
New consumer financial watchdog agency gains power after Obama appoints … – Washington Post
January 5, 2012 By
Reps Filibuster Consumer Financial Protection Bureau Nominee
December 18, 2011 By
A Republican filibuster in the Senate blocked former Ohio Attorney General Richard Cordray from being appointed to head the Consumer Financial Protection Bureau. The Young Turks host Cenk Uygur breaks it down. thinkprogress.org Subscribe to The Young Turks: bit.ly The Largest Online New Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com
FINRA Foundation and USAA Join BBB Military Line to Bring Financial Literacy and Marketplace Support to Military Families
August 5, 2011 By
Posted on 8/3/2011 by
(ARLINGTON, VA) – BBB Military Line, a financial literacy and consumer protection initiative for military families, gained a new sustaining partner with the announcement that the FINRA Investor Education Foundation will provide additional resources to this important program. USAA Federal Savings Bank has also made a significant commitment to BBB Military Line. These two leading organizations join BBB and McGraw-Hill whose efforts to reach more than 40,000 military families through a full complement of online and onsite financial resources including webinars, mobile applications, workshops and promotions were included in the First Lady and Dr. Biden’s Joining Forces Initiative.
“By supporting BBB Military Line, the FINRA Foundation and USAA Federal Savings Bank are providing resources directly addressing financial literacy and consumer problems that can overwhelm and distract our service members and their families,” said Stephen A. Cox, President and CEO of the Council of Better Business Bureaus. “BBB Military Line has been working with military families for over seven years and with the support of the FINRA Foundation and USAA Federal Savings Bank, more resources will be available to expand this important mission.”
“The FINRA Foundation is proud to partner with BBB Military Line to help protect military families from scams that target the military community. BBB Military Line reaches military servicemembers and their families throughout the United States and will provide the military with the tools and information they need to avoid fraud and make smart financial decisions,” said Gerri Walsh, Acting President of the FINRA Foundation.
“We believe the men and women who protect our freedoms deserve financial tools and education, which is why we provided a contribution to the BBB Military Line,” said David Bohne, President, USAA Federal Savings Bank. “We share a common goal and know that financial readiness equals mission readiness.”
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About BBB Military Line
The Better Business Bureau (BBB) Military Line program, established in 2004 and in partnership with the DOD Financial Readiness Campaign, brings financial workshops tailored to the military for adults and teens; participates in community fairs, conferences, and military installation events; and provides consumer protection information and services — all through the efforts of local BBB offices throughout the US. Our program empowers our military communities and builds bridges between civilian and military cultures through face to face interaction and cooperation. Our online presence provides financial literacy and military consumer information, along with consumer threat alerts that specifically target the military population. Please visit www.bbb.org/military for more information or contact us if your company is interested in supporting this initiative.
Connect with BBB Military Line on Facebook.
BBB Military Line Contacts:
Rod Davis
SVP, Enterprise Programs
703-247-9367 office
rdavis@council.bbb.org
Brenda Linnington
Director, BBB Military Program
703-247-9335 office
Blinnington@council.bbb.org
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July 8, 2009 – A Hearing on “Consumer Financial Protection Agency: Implications” (Part 2)
August 3, 2011 By
The Subcommittee on Commerce, Trade, and Consumer Protection held a hearing entitled “The Proposed Consumer Financial Protection Agency: Implications for Consumers and FTC” on Wednesday, July 8, 2009, in room 2123 Rayburn House Office Building. The hearing examined the Administration’s proposal to create a new agency responsible for consumer protection with regard to financial products and services
Question by THE WRAITH OF GOD IS COMING: How will the American consumer survive inflation due to the Euro Increase in value?
I mean many people do not know how to cook from srcatch and buy prepackaged meals as the euro increases it will cause a market correction in all goods, usually cutting back on food helps. However this more not be an option for people who do not know how to cook.
What will the net effects be on the consumer?
and the Market?
Best answer:
Answer by angelwith4faces
I think the Euro is not too much of a problem.
The Chinese dollar – whatever it is – is the real problem. I think that is where most of our retail goods come from.
At some point, it will start become cheaper to produce some goods here, at which point most people will make more money, and it is possible the increase in demand will offset the decrease in the value of the dollar.
Add your own answer in the comments!
Welcome to the Consumer Financial Protection Bureau (CFPB) – featuring narration by Ron Howard
July 30, 2011 By
www.ConsumerFinance.gov A quick video introduction to the Consumer Financial Protection Bureau (CFPB). The central mission of the CFPB is to make markets for consumer financial products and services work for Americans—whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products. ACKNOWLEDGEMENTS Voiceover: Ron Howard Symbols: Jonothan Jarvis [newmediators.com The Noun Project [www.thenounproject.com Sound FX from freesound [www.freesound.org users: Gniffelbaf CGEffex xdrav SpyrosCh zerolagtime rfhache Transcript: Now the story of a market that fell apart, and the new consumer agency that’s charged with putting it back together. When you shop for a consumer financial product or service—whether it’s a home loan, a credit card, or a student loan—how do you know you’re getting the best deal? After wading through all the advertising and page after page of fine print, side-by-side comparisons can be hard. That lack of clarity makes it all too easy to end up with a deal that doesn’t work for you and your family. This has real-life consequences—for you and for the whole economy. For years, the financial system has been loaded with more and more dangerous loans, including millions of risky and unaffordable mortgages. Many government agencies supervised different parts of the system, making it nearly impossible for people to hold any one agency accountable. This fractured and outdated system was slow to adjust to …
Video Rating: 3 / 5
Question by jason57: What are some good invention ideas or problems that consumers need solutions for?
What are some good invention ideas or problems that consumers need solutions for?
I need to find out some solutions to common problems that consumers/everyday people face whether it’s in the kitchen, car, work, traveling, on stage, at school etc. This can be an idea or invention. Please HElp!!!!
Best answer:
Answer by Ed Atun
A portable platform that folds up to fit in a pocket or a purse. Someone who is short can step on it and talk eye-to-eye with a tall person. Women would not have to wear high heels to be taller.
Add your own answer in the comments!
Financial resolutions for the New Year
January 6, 2011 By
What’s the No. 1 resolution of those responding to a poll by the National Foundation for Credit Counseling?
Reducing debt.
The December poll of more than 3,200 consumers found that 69 percent wanted to reduce debt. In second place, 18 percent wanted to improve their credit score. Tied for third place: Save more money. And become less dependent on credit cards.
My resolution will be to get my financial papers organized. And I think I’m safe to say that will be next year’s resolution, too.
Anyone got other financial resolutions other than debt reduction?
Anyone know how I would go about filing for consumer fraud? Got taken by Forresters Financial Trust.?
December 18, 2010 By
Question by tasteekake69: Anyone know how I would go about filing for consumer fraud? Got taken by Forresters Financial Trust.?
Best answer:
Answer by regerugged
If you are in the US, contact your state’s consumer protection bureau. If there is none, contact your state’s Attorney General.
Add your own answer in the comments!
Assurance Financial Services – Assuredly a Scam
August 10, 2010 By
Posted on 8/9/2010 by Janice Clemente
In these hard economic times, a small, 00 loan to cover those unexpected bills seems rather tempting. However, BBB warns you to be cautious of any personal loan offers you find online and avoid falling for what is known as the “Advance Fee Loan Scam”.
According to a slew of recent complaints, Assurance Financial Services has been offering these small personal loans on their website. But these loan offers are nothing more than a scam. Consumers are asked to reveal their personal financial information and fork over close to ,000 to cover supposed administrative costs for the loan by wiring fees to various individuals in Canada. Assurance Financial promises the loan will be deposited in the consumer’s bank account the following day, but it never comes.
Needless to say, after paying hundreds of dollars in fees, the victims of the scam are disappointed to find out the loan offer is bogus. However still, some unfortunate victims cling to the hope that the loan offer is real. When one victim contacted Assurance Financial Services to ask about the delay, the representatives told her something went wrong with the underwriter and they wanted her to pay another 0 to get the loan. Sad to say, some victims are so hooked by the con they send the money against their better judgment.
Read more: http://cincinnati.bbb.org/post/assurance-financial-services–assuredly-a-scam-5614
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Who will be the director of the new Bureau of Consumer Financial Protection?
July 21, 2010 By
Update: The pressure mounts. Demos, the public policy and advocacy group, has thrown its support behind Elizabeth Warren, too. Writes Demos president Miles Rapaport:
"The centerpiece of this landmark legislation is the creation of the Consumer Financial Protection Bureau, a first-of-its kind federal agency whose sole mission is to shield the credit and savings of everyday Americans from unfair and deceptive lending practices. However, the fledgling Bureau will only be as strong as its director is effective. We can think of no more qualified public leader than Elizabeth Warren.
"Professor Warren understands that, on the issues of consumer financial protection, nothing less than the future of the American middle class is at stake."
Seems like if President Obama doesn’t select Warren, his nominee will need to do some fence-mending with consumer advocates.
The campaign to name Elizabeth Warren head of the new Bureau of Consumer Financial Protection is on.
Wall Street reform legislation creates a new bureau charged with protecting consumers in financial matters. And whether the bureau truly champions the consumer will depend on the person chosen to lead it.
That decision is up to the president, although the Senate must give its stamp of approval.
Consumer advocates want Harvard law professor, Elizabeth Warren, to get the job. But fears that she won’t grew out of a HuffingtonPost story last week that said Treasury Secretary Timothy Geithner doesn’t want Warren. The tough-talking Warren, head of a congressional oversight panel, has been sharply critical of how taxpayer money is being spent in the bank bailout.
The White House has said Warren is a candidate, among others.
Now, two major labor unions — SEIU and the AFL-CIO — are putting pressure on the White House to support Warren. The SEIU says its president, Mary Kay Henry, will push Warren’s nomination when meeting today with Geithner today. And AFL-CIO president Richard Trumka released this statement:
"In our view, there is only one candidate who is uniquely qualified and equipped to head this new agency. Harvard Law School Professor Elizabeth Warren originated the idea of the Consumer Financial Protection Bureau, and has proven as Chair of the Congressional Oversight Panel to be a strong and fearless advocate for the American public. We therefore strongly urge President Obama to appoint Professor Warren as Director of the new consumer protection bureau. Professor Warren’s appointment would make clear that under President Obama’s leadership, there truly will be accountability for Wall Street and fair treatment for the American public in the financial marketplace."
Reuters reports that the president will name someone soon.