WASHINGTON (AP) — A federal appeals court has ruled that the structure of a U.S. consumer watchdog agency is unconstitutional because it gives too much power to a single agency director. The ruling issued Tuesday said the way the Consumer ...

Tagged with: Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) on Tuesday outlined consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policymakers as they develop new foreclosure relief solutions. The bureau’s action comes as the Department of Treasury’s Home Affordable ...

Tagged with: Consumer Financial Protection Bureau

WASHINGTON (AP) — A federal appeals court has revived a constitutional challenge to the Consumer Financial Protection Bureau, the federal office created to protect consumers in financial dealings with banks, lenders and credit card companies. The federal appeals court in ...

Tagged with: Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau recently launched an enhanced public consumer-complaint database that will add all anonymous complaints since the database was created in 2012. “The Bureau’s work improves as we hear directly from consumers,” said CFPB Director Richard Cordray, ...

Tagged with: Consumer Financial Protection Bureau

WASHINGTON  — Federal regulators are proceeding with new rules that ease guidelines for banks selling mortgage securities and could mean fewer borrowers will need to make hefty down payments. The Securities and Exchange Commission voted 3-2 Wednesday to adopt the ...

Tagged with: Consumer Financial Protection Bureau Securities and Exchange Commission

The burden of student loans is taking its toll on a generation who cannot afford to buy or, in some cases, even rent their own homes. And experts are warning that the failure of millenials to achieve the American Dream ...

Tagged with: Consumer Financial Protection Bureau

Come Jan. 10, it may become more difficult for homeowners to obtain a mortgage. That’s when a host of new rules come into effect. Most notable among the changes for borrowers will be the ability-to-repay and qualified mortgage rules that ...

Tagged with: Bank of America Consumer Financial Protection Bureau Fannie Mae Freddie Mac Mel Watt

RALEIGH – Some North Carolina homeowners will receive a share of a $2. 1 billion national settlement brought against subprime mortgage loan servicer Ocwen Financial Corp., Attorney General Roy Cooper announced recently. An estimated $26 million in funds will help ...

Tagged with: Consumer Financial Protection Bureau Ocwen Financial Corp. settlement

Recovery from our recent recession will continue in 2014, but it will be greatly reduced by a surprising factor – the low number of new household formations. About 1.1 million new households form in a normal year. These new households ...

Tagged with: Consumer Financial Protection Bureau Jim Woodard National Association of Realtors

New consumer protections taking effect in January are forcing mortgage lenders to change how they do business, but the head of the federal government's new consumer finance watchdog agency said Wednesday it'll give responsible lenders an advantage.

Tagged with: Consumer Financial Protection Bureau mortgage North Carolina Bankers Association