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Court Upholds Constitutionality of CFPB


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The last post in this topic was posted 1615 days ago. 

 

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<tiptoeing around politics>

 

Government agencies never die. They just get defunded. And this one can (and likely will) be defunded.

“You’re bringing me down man, you’re bringing me down”....John Travolta voice.

 

I would really hate to see CFPB go away as I believe they do benefit certain situations. I for one am included, with a past dispute that removed a baddie.

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<tiptoeing around politics>

 

Government agencies never die. They just get defunded. And this one can (and likely will) be defunded.

“You’re bringing me down man, you’re bringing me down”....John Travolta voice.

 

I would really hate to see CFPB go away as I believe they do benefit certain situations. I for one am included, with a past dispute that removed a baddie.

 

 

Then make sure you make comments for all the new notices.

 

https://creditboards.com/forums/index.php?showtopic=608567&hl=

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Of course with Mulvaney in effect defunding the department, this might turn out to be a pyrrhic victory

The same court is hearing the Mulvaney vs English case, in which the Dodd-Frank law specified the exiting Director, Richard Cordray, got to choose his successor. This case was decided based upon the Dodd-Frank law.

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<tiptoeing around politics>

 

Government agencies never die. They just get defunded. And this one can (and likely will) be defunded.

Congress does not have the power to defund the CFPB. That's what the lawsuit was all about. The CFPB is funded by the Federal Reserve. Corporate interests and one side in Congress wanted to bring the CFPB under the auspices of the Congress so they could kill it. The CFPB now remains independent.

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the issue the banks, JDB's and CA's don't like and want to kill ;

 

 

The CFPB had supervisory powers to walk in ANY Bank, JDB of CA office, perform audits and demand documents and records regarding compliance.

Is that what you do?

 

OH Man, I could only WISH............. :grin::grin:

 

my story with credit problems started back in 2004-5 but if the CCAct of 2009 and the CFPB would have been in place, there never would have been any problems

 

Cause they all broke the current laws on Universal default & notices - 3 day late payment on an account I had for 15 years -if I knew then what I know now, I would have driven 10 hours to Carol Stream ILL and hand delivered it

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the issue the banks, JDB's and CA's don't like and want to kill ;

 

 

The CFPB had supervisory powers to walk in ANY Bank, JDB of CA office, perform audits and demand documents and records regarding compliance.

Is that what you do?

 

OH Man, I could only WISH............. :grin::grin:

 

my story with credit problems started back in 2004-5 but if the CCAct of 2009 and the CFPB would have been in place, there never would have been any problems

 

Cause they all broke the current laws on Universal default & notices - 3 day late payment on an account I had for 15 years -if I knew then what I know now, I would have driven 10 hours to Carol Stream ILL and hand delivered it

I jest, I jest. :P

 

The CFPB has been helpful for me too, or at least they were in the past. My credit situation is relatively simple now, as I simply have to pay things. I do hope they retain their power, and gain some.

 

We have all been hosed by slimebags. :angry:

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  • 2 months later...

What A Shmoe

 

Since taking over the CFPB, Mulvaney has frozen all new investigations and slowed down existing inquiries by requiring employees to produce detailed justifications. He also sharply restricted the bureau's access to bank data, arguing that its investigations created online security risks. And he has scaled back efforts to go after payday lenders, auto lenders, and other financial services companies accused of preying on the vulnerable.

 

https://www.nytimes.com/2018/04/24/us/mulvaney-consumer-financial-protection-bureau.html

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What A Shmoe

 

Since taking over the CFPB, Mulvaney has frozen all new investigations and slowed down existing inquiries by requiring employees to produce detailed justifications. He also sharply restricted the bureau's access to bank data, arguing that its investigations created online security risks. And he has scaled back efforts to go after payday lenders, auto lenders, and other financial services companies accused of preying on the vulnerable.

 

https://www.nytimes.com/2018/04/24/us/mulvaney-consumer-financial-protection-bureau.html

 

 

Wells Fargo Hit With $1 Billion In Fines Over Home And Auto Loan Abuses

 

The Consumer Financial Protection Bureau is levying a $1 billion fine against Wells Fargo — a record for the agency — as punishment for the banking giant's actions in its mortgage and auto loan businesses.

 

https://www.npr.org/sections/thetwo-way/2018/04/20/604279604/wells-fargo-hit-with-1-billion-in-fines-over-consumer-abuses

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Wells Fargo Hit With $1 Billion In Fines Over Home And Auto Loan Abuses

 

The Consumer Financial Protection Bureau is levying a $1 billion fine against Wells Fargo — a record for the agency — as punishment for the banking giant's actions in its mortgage and auto loan businesses.

 

https://www.npr.org/sections/thetwo-way/2018/04/20/604279604/wells-fargo-hit-with-1-billion-in-fines-over-consumer-abuses

Sure, but that's an old existing case that was already in the pipeline.

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Wells Fargo Hit With $1 Billion In Fines Over Home And Auto Loan Abuses

The Consumer Financial Protection Bureau is levying a $1 billion fine against Wells Fargo — a record for the agency — as punishment for the banking giant's actions in its mortgage and auto loan businesses.

https://www.npr.org/sections/thetwo-way/2018/04/20/604279604/wells-fargo-hit-with-1-billion-in-fines-over-consumer-abuses

 

Sure, but that's an old existing case that was already in the pipeline.

:lol:

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<tiptoeing around politics>

 

Government agencies never die. They just get defunded. And this one can (and likely will) be defunded.

Youre bringing me down man, youre bringing me down....John Travolta voice.

 

I would really hate to see CFPB go away as I believe they do benefit certain situations. I for one am included, with a past dispute that removed a baddie.

Then make sure you make comments for all the new notices.

 

https://creditboards.com/forums/index.php?showtopic=608567&hl=

I am totally in support of the CFPB but I am confused as to what comments I should leave. I haven't personally asked for help directly from the bureau. Any suggestions. The site is a little confusing. Thank you.

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Wells Fargo Hit With $1 Billion In Fines Over Home And Auto Loan Abuses

The Consumer Financial Protection Bureau is levying a $1 billion fine against Wells Fargo — a record for the agency — as punishment for the banking giant's actions in its mortgage and auto loan businesses.

https://www.npr.org/sections/thetwo-way/2018/04/20/604279604/wells-fargo-hit-with-1-billion-in-fines-over-consumer-abuses

Sure, but that's an old existing case that was already in the pipeline.

:lol:

 

:rolleyes:

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Mulvaney now wants to close public access to the complaint database. His stance is the complaints are not fully "vetted".

 

https://www.mpamag.com/news/mulvaney-plans-to-end-public-access-to-cfpb-complaint-database-98917.aspx

I see both sides of this. Many complaints are frivolous but many will believe all are accurate. They are the only “regulator” that publicizes complaints.

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Mulvaney now wants to close public access to the complaint database. His stance is the complaints are not fully "vetted".

 

https://www.mpamag.com/news/mulvaney-plans-to-end-public-access-to-cfpb-complaint-database-98917.aspx

Many complaints are frivolous but many will believe all are accurate. They are the only “regulator” that publicizes complaints.

 

Plus one.

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On the other side of the coin, the transparency is a good thing.

The database could be restructured to show vetted complaints.

So now you just want a database of complaints that were agreed to be accurate by the financial institutions? Or do you want the disposition of all to show how many are frivolous vs real?

 

We see it here all the time people complaining to the CFPB about accurate info they want off their reports.

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