TV News LIES

Sunday, May 19th

Last update12:49:31 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...


8 companies that most owe workers a raise

ComcastWhile CEOs of companies with the strongest financial results are usually paid hundreds of millions of...

Study: U.S. taxpayers employ more low-wage workers than Wal-Mart, McDonald’s combined

Low wage workersFederal taxpayers employ more low-wage workers than Wal-Mart and McDonald’s combined, a new study calculates.The report...

Fannie Mae to Pay Treasury $59.4 Billion After Record Profit

Fanny MaeFannie Mae (FNMA), the mortgage-financier seized by U.S. regulators in 2008, will pay the Treasury Department...

CEO Pay 1,795-to-1 Multiple of Wages Skirts U.S. Law

Ron JohnsonFormer fashion jewelry saleswoman Rebecca Gonzales and former Chief Executive Officer Ron Johnson have one thing...
 
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!