TV News LIES

Tuesday, May 23rd

Last update05:20:13 AM GMT

You are here News Economy Consumer regulator barks; an industry shudders

Consumer regulator barks; an industry shudders

E-mail Print PDF

Kent MarkusThe new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far.

In the 14 months it has existed, the Consumer Financial Protection Bureau has launched dozens of enforcement probes and issued more than 100 subpoenas demanding data, testimony and marketing materials -- sometimes amounting to millions of pages -- from companies that include credit card lenders, for-profit colleges and mortgage servicers.

More than two dozen interviews with agency officials and industry executives offered sweeping insight into the new agency's behind-the-scenes efforts, which have taken the financial industry off guard and have been far more aggressive than previously known.

The number of subpoenas and probes was confirmed by agency, industry and trade group officials who spoke to The Associated Press on condition of anonymity because the subpoenas bar both sides from discussing them.

More...


Most Recent Related Stories...


Household debt tops 2008 peak ahead of financial crisis

Household debt in US at pre crash levelU.S. household debt has topped the record level reached in 2008, a milestone for the recovery...

Commerce secretary warns Canada against 'retaliatory action' on lumber tariff

Commerce Sec. Ross warns Canda about tariffSecretary of Commerce Wilbur Ross on Saturday doubled down on the imposition of tariffs on Canadian...

In blow to Trump, GE backs NAFTA and voices support for Mexico

GE backs NAFTAGeneral Electric (GE.N) on Friday praised Mexico as a big part of its future and said...

Trump's first tariffs: Canada's lumber imports

US puts tariffs on Canadian lumberPresident Donald Trump imposed the first tariffs of his administration, up to 24.1 percent aimed at...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!