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Do You Have Student Loans? Banks May Exploit Your Parent’s Death To Push You Into Default.

The New York Times reports on a new study from the Consumer Financial Protection Bureau that really drives home how sleazy the banking industry has gotten, and how much they’ve come to view customers are the enemy: The problem, described in a report released Tuesday by the Consumer Financial Protection Bureau,…

White House presses hard for consumer chief

WASHINGTON — The White House Wednesday warned that Republican opposition to the nomination of a chief for a new consumer watchdog agency left millions of Americans open to abuses from the finance industry. Republicans are opposing the President Barack Obama’s pick of former Ohio state official Richard Cordray to head…

Republicans seeking to ‘thwart change’: Geithner

Treasury Secretary Timothy Geithner blamed Republican lawmakers for seeking to weaken reforms that he says have strengthened the US financial system after the 2008 economic meltdown. “Where are we today, a year since the Wall Street Reform and Consumer Protection Act was signed into law?” Geithner wrote in an opinion…

Labor union urges recess appointment for Elizabeth Warren

The labor union umbrella group AFL-CIO is urging President Barack Obama to make a recess appointment for Harvard law professor Elizabeth Warren to head the Consumer Financial Protection Bureau (CFPB), even as Republicans search for any way to stifle her. “No matter who gets the recess appointment of President Obama,…

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