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Fintech Focus Roundup For October 10, 2020
Friday, October 9, 2020 - 7:36pm | 1390Read More...Why Signal Advisors Is Not Your Typical IMO The Problem: Traditional IMOs sell relationships; they distribute annuities and insurance policies through networks of independent financial advisors. With the rise of technology, however, many IMOs have failed to innovate with the times, leaving...
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'We're At A Tipping Point': Commonwealth Drives Systemic Change In Financial Services Alongside JPMorgan, BlackRock
Wednesday, October 7, 2020 - 7:00am | 879Read More...Commonwealth, a financial security nonprofit, recently announced a two-year initiative to address challenges and opportunities emerging technologies present to people of lower- and moderate-income. As part of the development, Benzinga chatted with Commonwealth co-founder and executive director...
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Supreme Court Debates President's Right To Fire Federal Agency Head Without Cause
Tuesday, March 3, 2020 - 11:32pm | 569Read More...The U.S. Supreme Court heard arguments Tuesday in a case concerning the power of the president to fire the head of a federal agency without cause. Presidential Oversight Of CFPB In Question The judges of the High Court were divided in their remarks, mostly by political...
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Wall Street May Like Mulvaney, But Probes, Politics Will Likely Top Agenda
Monday, December 17, 2018 - 5:08pm | 615Read More...Mick Mulvaney is moving from running a banking regulatory agency he hates and once hoped to see killed to serving as chief of staff for a president he once called a “terrible human being.” Mulvaney, a Republican former congressman from South Carolina, was seen by some on Wall Street as...
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CFPB Fines Wells Fargo $1 Billion
Friday, April 20, 2018 - 11:18am | 590Read More...Wells Fargo & Co (NYSE: WFC) has agreed to pay a $1-billion fine to the government related to abusive lending and auto insurance practices. What Happened Wells Fargo said Friday that it has agreed to a $1-billion settlement with the Consumer Financial Protection Bureau and the Office of the...
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Analyst: Navient Stock Is Simply Too Cheap, Buy It
Friday, September 8, 2017 - 11:25am | 469Read More...Can things get any worse for Navient Corp (NASDAQ: NAVI)? Not according to Credit Suisse’s Moshe Orenbuch. By his estimates, Navient’s nearing the bottom. The education-services firm is down 20 percent year to date, and after a sharp, 4.7-percent sell-off Thursday, Orenbuch perceived a...
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Risk Of Regulatory Hammer-Drop Diminishes, Is Navient A Buy Again?
Tuesday, September 5, 2017 - 2:13pm | 462Read More...The U.S. Department of Education has had enough of “overreaching” watchdogs. Officials announced Friday that they would terminate two agreements with the Consumer Financial Protection Bureau pertaining to information-sharing and oversight cooperation ━ welcome news for recent targets of...
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New CFPB Regulation Takes Away Consumer Freedom To Be Railroaded By Big Banks
Tuesday, July 11, 2017 - 12:15pm | 462Read More...The Consumer Financial Protection Bureau, an agency with uncertain fate in Red-run, anti-regulatory Washington, adopted a rule Monday that will allow consumers to join legal forces in challenging financial institutions. The regulation would prohibit banks and credit institutions from adopting...
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Bill To Gut Consumer Financial Protection Bureau Heads To House Committee
Tuesday, April 25, 2017 - 2:09pm | 855Read More...If you’re among the 29 million consumers who got back a portion of the $11.8 billion in bad billings by your credit card company or lender, you’re probably happy that a thing called the Consumer Financial Protection Bureau was created by former President Barack Obama nearly six years...
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New Residential Investment Corp Hammered By Ocwen News
Thursday, April 20, 2017 - 4:09pm | 395Read More...Ocwen Financial Corp (NYSE: OCN) shares crashed 50 percent Thursday after more than 20 states issued cease-and-desist orders against the company related to alleged mismanagement of escrow accounts and the company’s poor financial standing. In addition, the Consumer Financial Protection Bureau...
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What Is The 'Prepaid Card Rule,' And Why Is Congress Likely To Disapprove It?
Tuesday, April 4, 2017 - 10:15am | 741Read More...In another move toward deregulation, Congress is on the verge of passing a bill intended to disallow the Prepaid Card Rule submitted by the Consumer Financial Protection Bureau, or CFPB. Rule Likely To Be Repealed Height Securities said in a note on Monday the Senate resolution proposed last week...
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Avoid The Student Loan Crisis Facing Retirees
Friday, January 20, 2017 - 4:49pm | 689Read More...This month, the Consumer Financial Protection Bureau released a report that showed that Americans over the age of 60 are the fastest growing segment of student loan borrowers, with the amount quadrupling over the past ten years to about 2.8 million in 2015. The report stated that older borrowers...
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High Tech Or Old School: Finding The Tools To Improve Your Financial Well-Being
Thursday, January 12, 2017 - 4:12pm | 952Read More...In a 2014 research paper released by the Academy of Financial Services on fiscal self-efficacy and financial stress, researchers linked a personal sense of financial helplessness with feelings of stress, negative emotion and, in some instances, depression. The perception of not having control of...
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With CFBP's Ruling On Bridgepoint, It's Time To Revisit Credit Suisse's Advice
Tuesday, September 13, 2016 - 9:28am | 512Read More...The Consumer Financial Protection Bureau (CFBP) took action on Monday against Ashford University and the University of the Rockies, two for-profit colleges operated by Bridgepoint Education Inc (NYSE: BPI). The CFPB is forcing Bridgepoint to pay more than $24 million as part of a settlement...
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Washington Seeks Better Control Of Fintech Companies
Sunday, May 29, 2016 - 5:22pm | 446Read More...The financial technology segment, which includes companies that lend money online to firms that process electronic payments, had gone quite a long time without catching the attention of government regulators. However, this grace period has come to an end. According to a Financial Times article,...
