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Consumer bureau moves to end high-risk mortgages that fed crisis
The United States issued new rules Thursday restricting the kind of high-risk home loans that led to millions losing their homes in the housing collapse and sparked the financial crisis. The Consumer Financial Protection Bureau (CFPB) set regulations that forbid lenders from granting mortgages to buyers who are not in…
Transparency: It’s What’s For A Bitter, Bitter Dinner
S.E. Cupp writes today that because transparency is not the end-all, be-all solution to problems, we should just end transparency altogether. Or something. I don’t know. She’s as sharp a thinker on this as she is on atheism, and I’m sure you all have followed her many sermons on that…
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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