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consumer financial protection agency

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Why Obama's Bank Shakeup Won't Save Consumers
The White House would have been better off giving broader powers to existing regulatory agencies and focusing more on efforts to educate investors. As part of his planned overhaul of the entire...
Tags: Bank, Financial, Agency, MoneyWatch, Mortgages, Financial Accounting, Advertising & Promotion, Finance, Capital Structures, Marketing, Consumer Financial Protection Agency, CPFA, Financial Reform, Elizabeth Warren, Financial Regulation, Unintended Consequences, Suzanne McGee
Articles 2009-06-23

Additional Resources

American Enterprise Institute and Consumer Financial Protection
http://rortybomb.wordpress.com submits: So Peter Wallison of the American Enterprise Institute (AEI) has an opinion piece, Elitist Protection Consumers Don’t Need, in the Washington Post, arguing against the Consumer Financial Protection Agency (h/t Nick Schulz). Mark Thoma and Richard Green give it a critical look; I’ll add my...
Tags: Financial, US Market, Rortybomb
External links 2009-07-15
Should Bank CEOs Direct Employees to Scuttle Consumer Protection Agency?
It's no secret that the American Bankers Association wants to torpedo the proposed Consumer Financial Protection Agency. Now the group also wants bank leaders to dragoon employees into opposing it. Says the ABA, the industry's leading trade organization, in an August 21 entry in the "What's News" section of...
Tags: Bank, Agency, Consumer Protection, CFPA, Financial Services, Alain Sherter
Blog posts 2009-08-24
House panel OKâ??s consumer protection agency
WASHINGTON - The House Financial Services Committee voted Thursday to create a federal agency devoted to protecting U.S. consumers from predatory lending, abusive overdraft fees and unfair rate hikes. Democrats are hailing the 39-29 vote as a win for the average American. It is a major step forward in enacting...
Tags: Agency
News items 2009-10-22
Danger & Opportunity: Healthcare, Financial Service Reform Making Headway
Two of the Obama Administration's top priorities to accomplish by year-end—healthcare and financial services reform—are well on their way to fruition.The Senate Finance Committee passed October 13 its version of healthcare reform, and at press time White House and Congressional leaders were busy trying to meld provisions of five House...
Tags: U.S. Senate, SEC, FINRA
News items 2009-10-30
Banks Hope to Scuttle Plan for New Consumer Watchdog
Puzzling story today in American Banker, which writes that the U.S. banking industry "refuses to engage" with lawmakers on Capitol Hill writing legislation to establish a so-called Consumer Financial Protection Agency registration required. Yet the same piece offers this quote from Scott Talbott, the chief lobbyist for...
Tags: Bank, Financial, Agency, Banking Industry, CFPA, Financial Accounting, Finance, Alain Sherter
Blog posts 2009-07-15
Why We Need a New Agency to Protect Consumers
Harvard Law professor and TARP overseer Elizabeth Warren explains why Obama's proposed new watchdog would help bankers as much as consumers. Unlike many other consumer crusaders, Warren had the clout to get her ideas taken seriously. The head of the congressional panel overseeing ...
Tags: Consumer, Financial, Agency, SEC, MoneyWatch, CFPA, Mortgages, Advertising & Promotion, Financial Services, Financial Accounting, Finance, Capital Structures, Marketing, Elizabeth Warren, Consumer Federal Protection Agency, Credit Cards, Mary Schapiro, Suzanne McGee
Articles 2009-07-10
US sees big banks largely funding consumer agency
Reuters WASHINGTON - The Obama administration is proposing to fund the enhanced policing of financial firms by levying fees on the largest banks, while sparing community banks from increased costs, a Treasury official has said. The biggest banks and financial firms that do not fall under direct federal supervision will...
Tags: financial, Bank, fee, regulator, community bank
News items 2009-08-14
Reverse Convertibles vs. Consumer Protection
http://rortybomb.wordpress.com submits: Since we’ve already run new stress tests out of this webpage, I’m going to go ahead and run the Consumer Protection Agency out of the Rortybomb Blog while President Obama and team continue to get the legislation worked out. (If I keep doing Elizabeth Warren’s homework for...
Tags: Financial, US Market, Rortybomb, Morgan Stanley
External links 2009-06-18
Financial Reforms Grind Forward in Congress
By Kevin DrawbaughWASHINGTON (Reuters) - The U.S. Congress edged closer on Wednesday to creating new government powers to break up giant financial firms, which Europe is already doing, while a U.S. derivatives market crackdown got more complicated.More than a year since the collapse of Lehman Brothers and massive government bailouts...
Tags: Financial, Republican, U.S. Congress, U.S. Senate, Financial Accounting, Financial Services, Banking, Senate Banking Committee
News items 2009-11-19
Sen Dodd Seeks More Muscle in US Financial Reforms
By Kevin DrawbaughWASHINGTON (Reuters) - Pushing for tougher changes in U.S. financial regulations, the Senate's top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.Senator Christopher Dodd, who is fighting for his political life back home in Connecticut, unveiled a...
Tags: Bank, Regulator, Financial, Financial Company, U.S. Senate, Sen Dodd, Bill, House, Republican
News items 2009-11-10
Obama Financial Reforms Advance in Congress
By Kevin DrawbaughWASHINGTON (Reuters) - The Obama administration made gains on Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.The systemic risk bill would...
Tags: Bill, Financial, U.S. Congress, Financial Accounting, Finance, CFTC, Us
News items 2009-10-28
Four Questions About Obama's Financial Reform
Today the President outlined, in general terms, the principles of the financial reform package that he would like to see.  Good thing: I was worried that the health care debate and the stock market recovery had made him forget all about it. My colleague Jill Schlesinger is...
Tags: Regulator, Financial, Financial Accounting, Finance, Eric Schurenberg
Blog posts 2009-09-14
After the Fall, Little Progress on Financial Reform
A year removed from the failure of Lehman Brothers, from peering into the economic abyss, and the patient is doing just fine. Phew, close call! Now let's get outside and enjoy the sunshine. Investors feel frisky again, banks are pulling their structured finance playbooks down off the shelf. Washington and...
Tags: Bank, Financial, Financial Accounting, Financial Services, Finance, Alain Sherter
Blog posts 2009-09-15
Federal Reserve: Cut down on gift card fees
The U.S. Federal Reserve stepped up its consumer protection efforts for the second time in less than a week on Monday, proposing to limit the ability of gift card issuers to impose excessive fees. The Fed proposed banning any fees for the first year, and limiting gift card issuers to...
Tags: fee, Federal Reserve Board, Gift Card
News items 2009-11-16
Who Should Protect Consumers?
Remember "states' rights?" Back when the federal government was a strong regulator of consumer products and services, including banks, airlines, brokerages, cable TV and drugs, pro-business factions screamed bloody murder. According to them, federal regulation usurped states' rights to enforce their own laws, which, they argued, would...
Tags: Bank, Financial, State, Regulations, Financial Services, Financial Accounting, Government, Finance, Marlys Harris
Blog posts 2009-10-01
Obama Warns Wall Street is Returning to Past Errors
President Obama warned Monday that some in the financial industry have failed to learn from last year's failure of Lehman Brothers and the financial meltdown that followed. He pledged to make it harder for financial firms to be too big to fail. Obama travelled to Wall Street...
Tags: Regulator, Financial, Barack Obama, Wall Street, Obama, Financial Accounting, Finance, Charles Wallace
Blog posts 2009-09-14
Fed Meddles With Credit Card Issuers
The Federal Reserve's plan to clamp down on credit card issuers represents a funny about-turn on its previous hands-off economic stance. Only a little while ago, you might remember, former Fed Chairman Alan Greenspan mulled a similar sort of effort over subprime lenders, but concluded ultimately that it would "require...
Tags: Federal Reserve Board, Credit Card, Sales Channel, Financial Services, Sales, Daniel M. Harrison
Blog posts 2009-09-29
FDIC's Bair Sees Consensus on "too Big to Fail"
CHICAGO (Reuters) - Key officials and lawmakers are reaching a "growing consensus" on the need for a strong mechanism that would allow the government to dismantle troubled financial giants, the chairman of the Federal Deposit Insurance Corp said on Monday.Sheila Bair said administration officials, top bank regulators and lawmakers all...
Tags: Bank, FDIC, Financial, Financial Company, Bank Regulator, Financial Services, Government, Us
News items 2009-10-26
JPMorgan Chase & Co. Q2 2009 (Qtr End 06/30/09) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of Glen Shore – UBS Glen Shore – UBS So maybe just on NIM first, you had some NIM compression, you obviously have a really low interest rate environment but also you’re running off obviously all...
Tags: Agency, Credit Card, J.P. Morgan Chase & Co., Call Transcript, Earnings, UBS AG, Advertising & Promotion, Sales Channel, Financial Services, Marketing, Sales, Seeking Alpha
Earnings calls 2009-07-16
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