Policy & Regulation

Arkansas Attorney General Dustin McDaniel filed a consumer protection lawsuit Monday against a Missouri man and two companies that control six Internet payday loan Web sites offering loans to consumers at interest rates of more than 600%.

The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have signed a deal to coordinate consumer protection efforts and help avoid duplicating federal law enforcement and regulatory efforts.

Tom Miller's statement Monday came amid growing speculation that an agreement is close.

WASHINGTON — The Consumer Financial Protection Bureau and the Federal Trade Commission said Monday they have signed an agreement to coordinate their rulemaking and enforcement activities.

The speech comes as a potential mortgage settlement approaches, and the new consumer bureau emerges as a top campaign issue.

The big banks' mortgage woes keep piling up, in a backlog that is likely to drag down their profits — and a broader housing recovery — for the foreseeable future.

Industry observers agree that the bureau's authority will be challenged in court, but it's unclear when and where the lawsuit will come from.

"Rich" Cordray (as his sidekick Raj Date calls him) is being unfairly stigmatized by press references to him as "5-time Jeopardy winner." As if that were his greatest qualification!

My guess is that Shaun Donovan and Tim Geithner are burning the midnight oil and firing up the afterburners in attempts to wrap this agreement up by Tuesday’s State of the Union address.

Tennessee Commerce Bancorp has missed a regulatory deadline for improving its capital ratios and is now warning investors that it is likely to fail if it is unable to raise fresh capital or find a buyer.