WCBE

Consumer Financial Protection Bureau

Cordray To Announce Gubernatorial BId

Dec 4, 2017
Wall Street Journal

Former consumer watchdog Richard Cordray is set to announce his bid for Ohio governor on Tuesday. 

Ohio Public Radio

A bipartisan bill that would crack down on Ohio’s 650 payday lenders has received its first hearing in the House.

The Consumer Financial Protection Bureau effectively has two leaders right now, which should lead to a confusing Monday morning back from the Thanksgiving holiday — and eventually a battle in court.

Both the departing head of the CFPB, Obama appointee Richard Cordray, and the White House have named interim leaders of an agency that has been engulfed in partisan politics since its inception as part of the Dodd-Frank regulatory reform bill in 2010.

The agency was created to be a watchdog for consumers when they interact with almost all kinds of financial institutions.

Ohio Public Radio

After months of speculation, it appears a shake-up in the Democratic race for governor next year is starting. 

Updated at 4:12 p.m. ET.

The Senate has voted to get rid of a banking rule that allows consumers to bring class-action lawsuits against banks and credit card companies to resolve financial disputes. Critics say Republicans and the Trump administration are siding with Wall Street over Main Street and that the shift will block consumers from joining together against the likes of Wells Fargo and Equifax.

Many payday lenders could go out of business if rules made final this week by the Consumer Financial Protection Bureau go into effect. But the changes face stiff headwinds from Republicans in Congress.

One new rule would require payday and auto title lenders to determine whether a borrower can afford to repay in full within 30 days. That could thwart a business model that consumer advocates say relies on the rollover of unpaid loans with the accumulation of exorbitant fees and interest rates of 300 percent or more.

Ohio Public Radio

There was a lot of hype built around Rich Cordray’s visit to Cincinnati to speak to labor groups.

dailymail.co.uk

In Cleveland Thursday, former Trump campaign manager Corey Lewandowski ducked questions about his motives for attacking the head of the Consumer Financial Protection Bureau - who is considering a run for Ohio governor.  

Karen Kasler

The head of the federal Consumer Financial Protection Bureau is  talking about the role he hopes the agency continues to play up to and after the November  election. 

Ohio 10th Nationally In Student Loan Defaults

Oct 21, 2013

Ohio's student loan default rate is among the 10 highest in the country with nearly 30 thousand people defaulting on federal loans they were supposed to start repaying in 2010.