In his first speech as CEO of the FCA, Martin Wheatley vowed to crack down on unsuitable financial products by using elements of behavioural economics to better understand investor decisions.
The Senate Banking Committee has announced that on April 23, 2013, it will conduct a hearing on the CFPB’s third Semi-Annual Report to Congress. CFPB Director Richard Cordray is the only witness scheduled to appear....more
The Consumer Financial Protection Bureau (CFPB) recently expanded its existing Consumer Complaint Database to cover additional consumer financial products and services.
The CFPB announced yesterday that it is now accepting complaints about money transfers. Last week, the CFPB announced it had expanded its public Consumer Complaint Database to include complaints about mortgages, bank deposit...more
On January 24, the House Committee on Ways & Means released a discussion draft of legislative provisions (the “Draft”) that would make fundamental changes in the taxation of certain financial products, including the treatment...more
On January 24, 2013, the House Committee on Ways & Means released a discussion draft of legislative provisions (the “Draft” or the “Proposal”) that would make fundamental changes in the taxation of certain financial products....more
The Consumer Financial Protection Bureau believes positive financial decision making should be learned at a young age. The Bureau recently issued a Request for Information Regarding Financial Products Marketed to Students...more
On January 31, the CFPB issued a notice and request for comment about how current and future arrangements between institutions of higher education and financial institutions could be structured “to promote positive financial...more
The CFPB has announced a pilot-program in which it will partner with Newark, New Jersey to allow Newark consumers to use a local 4311 hotline to reach the CFPB with questions and complaints about financial products and...more
Many cities and municipalities have non-emergency “hotlines” designed to provide access to non-urgent municipal services (e.g., tree trimming, dead animal removal, sidewalk repair)....more
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