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Community Reinvestment
America's Top Housing Official Must Aid Struggling Homeowners
May 14, 2012 — The Huffington Post
by:Preeti Vissa
If one man can be described as absolutely key to solving the... [ More ]
Losing end
May 02, 2012 — San Francisco Chronicle
by: Andrew S. Ross
Losing end: That 9.8 percent figure ... [ More ]
Study finds more bank branches, but only in higher-income areas
May 01, 2012 — A new study finds the number of bank and thrift offices has risen 8.4% since 2006 in areas with median incomes of $10... [ More ]
Consumer Financial Protection Bureau (CFPB)
A Huge Step Forward for Consumers
On July 21, 2010, The Dodd-Frank Act Wall Street Reform and Consumer Protection Act was passed. A significant victory in that law was the creation of the Consumer Financial Protection Bureau (CFPB), which officially opens for business July 21, 2011.
Greenlining has been advocating for the creation of a strong consumer agency since the financial crisis began, and worked hard to make sure it was a single agency that was independently run, with a strong leader in charge. Fortunately, we won.
CFPB was set up with the specific purpose of protecting consumers when they deal with banks, credit card companies, payday lenders and other financial services. Never before have we had one single agency in charge of writing rules, enforcing them, and making sure that everyday Americans understand what they are buying from financial institutions.
To Find Out More
Greenlining's fact sheet about the Consumer Financial Protection Bureau is here in English http://www.greenlining.org/resources/pdfs/CFPBFactSheetv2.pdf and Spanish http://www.greenlining.org/resources/pdfs/CFPBFactSheetSpanish.pdf
Go to CFPB's website, consumerfinance.gov to learn more about the agency, file complaints, and offer suggestions for how the agency can be more responsive to your needs.
Greenlining Institute Executive Director Orson Aguilar's newspaper column about CFPB and -- why it must be protected from forces that would like to return to the bad old days-- is here http://www.timesunion.com/opinion/article/A-sly-bid-to-sabotage-financial-safeguards-1470253.php
Presidential advisor Elizabeth Warren's commentary on the bureau and the man President Obama has nominated to be its director, Richard Cordray, is here http://www.huffingtonpost.com/elizabeth-warren/richard-cordray-cfpb-consumer-financial-_b_901370.html
Related Resources
How To Get A Good Credit Score And Keep It
A CFPB flyer with tips to get and keep a good credit score.
For years leading up to the 2008 financial collapse, federal bank regulators ignored numerous warnings of increasingly predatory mortgage practices, credit card tricks and unfair overdraft policies used by banks.