February 24, 2015

Consumer Thoughts on Credit Reports

By David Reiss

The Consumer Financial Protection Bureau has issued a report, Consumer Voices on Credit Reports and Scores. This report builds on other recent work from the CFPB about how much people really understand about consumer finance. The answer — they still … Continue reading

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February 24, 2015 in CFPB | Permalink | No Comments

February 20, 2015

Friday’s Government Report Roundup

By Shea Cunningham

CRS Report, ‘Community Development Financial Institutions (CDFI): Programs and Policy Issues’, by Sean Lowry. (Need Bloomberg BNA Subscription) Consumers’ mortgage shopping experience, by CFPB. HUD Subsidized More Than 106,000 Noncompliant Households. (Discussing HUD’s large-scale failure in oversight of requirement that … Continue reading

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February 20, 2015 in CFPB | Permalink | No Comments

February 12, 2015

Realistic Strategies for Consumer Education

By David Reiss

The Consumer Financial Protection Bureau has issued its latest Strategic Plan, Budget, and Performance Plan and Report. I was critical of last year’s strategic plan as it related to financial education. I felt that the CFPB was too optimistic about … Continue reading

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February 12, 2015 in CFPB | Permalink | No Comments

February 10, 2015

Risky Reverse Mortgages

By David Reiss

The Consumer Financial Protection Bureau released a report, Snapshot of Reverse Mortgage Complaints:  December 2011-December 2014. By way of background, Reverse mortgages differ from other types of home loans in a few important ways. First, unlike traditional “forward” mortgages, reverse … Continue reading

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February 10, 2015 in CFPB | Permalink | No Comments

February 5, 2015

Mortgage Shopping

By David Reiss

The Consumer Financial Protection Bureau has issued a report on Consumers’ Mortgage Shopping Experience:  A First Look at Results from the National Survey of Mortgage Borrowers. The CFPB’s key findings include a. Almost half of consumers who take out a … Continue reading

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February 5, 2015 in CFPB | Permalink | No Comments

February 2, 2015

The Secret to Financial Well-Being?

By David Reiss

The Consumer Financial Protection Bureau has issued a report, Financial Well-Being:  The Goal of Financial Education. I have been somewhat critical of the CFPB’s approach to financial literacy education, but I think that this report sets forth a pretty reasonable … Continue reading

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February 2, 2015 in CFPB | Permalink | No Comments

Monday’s Adjudication Roundup

By Shea Cunningham

S&P agrees to settlement of $58 million for fraudulent ratings on commercial mortgage-backed securities. SEC order regarding violations of Section 17(a)(1) of the Securities Act, Section 15E(c)(3) of the Exchange Act, and Exchange Act Rules 17g-2(a)(2)(iii) and 17g-2(a)(6). $6.2 million … Continue reading

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February 2, 2015 in CFPB | Permalink | No Comments