Published: May 9, 2012
Tags: Congress, Consumer Financial Protection Bureau, consumer protection, credit reporting agencies, Department of Justice, Fair Credit Reporting Act, Federal Trade Commission, Supremem Court
WASHINGTON – In a joint brief filed in a Pennsylvania district court case challenging the Fair Credit Reporting Act, three federal agencies have urged the court to find the law constitutional.
WASHINGTON – The Consumer Financial Protection Bureau wants to know what you think about arbitration clauses.
The Bureau kicked off an effort to study the effects of arbitration clauses in credit card agreements, mortgage contracts and other financial products by opening public comment on the issue.
WASHINGTON – The American Bar Association is objecting to language in a proposed rule from the Consumer Financial Protection Bureau governing confidential treatment of information obtained from persons in connection with the exercise of the agency’s authority.
WASHINGTON – The American Bar Association is urging Congressional lawmakers to adopt legislation that would establish a standard for the treatment of privileged information by federal financial agencies, including the Consumer Financial Protection Bureau.
The new federal consumer protection bureau has proposed a rule that would place large-scale debt collectors and consumer reporting agencies under its “nonbank” supervision program.
WASHINGTON – Lawsuits challenging the validity of President Barack Obama’s recess appointments to two major federal agencies have cast a cloud of uncertainty over opinions and regulations being handed down and could result in years of additional litigation that will harm American businesses, lawmakers and attorneys warn.
WASHINGTON – In a move that will almost certainly spur a legal challenge, President Barack Obama announced recess appointments to two federal agencies that have been the subjects of an ongoing battle between Republican members of Congress and the White House.
WASHINGTON – In Washington, 2011 can be remembered as the year Congress and the White House battled it out.
The year ended with Congress and the White House in a cold war of sorts, with Republican lawmakers using every procedural tool at their disposal to block key White House appointments in an expression of displeasure over President Barack Obama’s administration policies.
WASHINGTON – The new Consumer Financial Protection Bureau will remain without a permanent director after Senate Republicans blocked a confirmation vote on President Barack Obama’s pick to head the agency.
The 53-45 vote Thursday fell seven votes below the 60 needed to close debate on the nomination of Richard Cordray and move it to a final vote. All but two Republicans voted to block the vote.
WASHINGTON – A group of state attorneys general urged members of the Senate Tuesday to confirm Richard Cordray, President Barack Obama’s pick to be the first director of a new consumer financial regulatory agency.