Consumer Financial Protection Bureau

Reconciling H.R 4173 and S. 3217 During recent years, regulators stood by and allowed the most costly reckless lending in history, largely because they were heavily influenced by the very businesses they were supposed to oversee. Lax regulation has already cost trillions of dollars. For the final financial reform bill, these four issues will be vital in protecting taxpayers from...

Today's financial troubles were triggered by a massive failure of home loans—a foreclosure epidemic that will continue to cost all homeowners billions of dollars each year. To avoid repeating this crisis, the final financial reform legislation must include three major elements: Better lending standards: Both the House and Senate bills (H.R. 4173 and S. 3217, respectively) include crucial minimum mortgage...

To ensure that the CFPA is independent of the industry it is trying to regulate, Congress must ensure that the funding source remains independent of political pressure.

The Snowe-Pryor Senate financial reform bill proposal would create a layer of bureaucracy that is redundant and dangerous. This language would prioritize small businesses over families, taxpayers and other key stakeholders.

The Consumer Financial Protection Agency should be headed by a strong, independent-minded director, rather than a five-member commission, to ensure that the Consumer Financial Protection Agency is free from industry influence and costly delays.

To ensure that the CFPA is independent of the industry it is trying to regulate, Congress must ensure that the funding source remains independent of political pressure.

A brief by the National Consumer Law Center shows state-by-state markups on auto loan rates by race, revealing wide disparities between costs for African-American and white car buyers.

The current financial system has left America's families, its military, its community banks, and its responsible auto dealers unprotected from the minority of dealer-lenders who sell unfair auto loans with hidden fees. Such practices can tarnish the reputation of the entire industry. Exempting irresponsible dealers would help Wall Street at the expense of America's families and honest dealers and lenders...

What the CFPB Really Means for Washington and Americans Myth: The proposed agency would duplicate the work of existing agencies and increase regulatory burden on businesses. FACT: The CFPB would consolidate and streamline existing functions to reduce regulatory burden. The new Agency would consolidate consumer protection rulemaking and enforcement that is now scattered across several agencies, creating unnecessary conflicts and...

What the CFPB Really Means for Washington and Americans 1. Myth: The proposed agency would duplicate the work of existing agencies and increase regulatory burden on businesses. FACT: The CFPB would consolidate and streamline existing functions to reduce regulatory burden. The new Agency would consolidate consumer protection rulemaking and enforcement that is now scattered across several agencies, creating unnecessary conflicts...