Judge denies injunction to remove Mick Mulvaney as consumer bureau’s acting director

A federal judge on Wednesday denied a request for a preliminary injunction to remove Mick Mulvaney as acting director of the Consumer Financial Protection Bureau. The judge sided with Mulvaney — President Donald Trump’s choice for the interim position — over Leandra English, the agency’s deputy director who has said she is the rightful acting director.… Please follow and like us:

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Repeal Dodd-Frank, eliminate the Consumer Financial Protection Bureau

WASHINGTON, November 29, 2017 – While there is currently a debate about who is actually in charge of the Consumer Financial Protection Bureau (CFPB), maybe this is a good time to talk about eliminating the CFPB entirely. Dodd-Frank and the Consumer Financial Protection Bureau In 2010 Congress passed the Dodd-Frank bill which was designed to reform… Please follow and like us:

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Trump’s pick would violate consumer bureau independence: Lawsuit

President Trump’s move to put one of his own top lieutenants as the government’s top Wall Street cop would violate the independence of the agency, the man’s competitor for the job said in legal papers filed early Monday morning. Leandra English is trying to cement her position as acting director of the Consumer Financial Protection Bureau… Please follow and like us:

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Senate Appropriations Bill Gives SEC More Funds for Tech

The Senate Appropriations Committee’s just-released FY 2018 financial services bill allocates $1.8 billion for the Securities and Exchange Commission, which is equal to the FY2018 budget request and includes $245 million for the SEC’s potential headquarters relocation. SEC Chairman Jay Clayton said in June that the SEC budget request for fiscal 2018 of $1.602 billion is… Please follow and like us:

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Why we need to save the Consumer Financial Protection Bureau

By Jeff Sovern, Professor of Law, St. John’s University, Gina M. Calabrese, Professor of Clinical Education, St. John’s University, and Ann L. Goldweber, Professor of Clinical Education, St. John’s University. Consumer Financial Protection Bureau Director Richard Cordray, center, plans to step down at the end of the month. AP Photo/Steve Helber Republicans in Congress and the… Please follow and like us:

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Home Prices Boom 10 Years After Housing Crisis

New report reveals surprising data as prices return to bubble levels SANTA CLARA, Calif., Nov. 13, 2017 /PRNewswire/ — Home prices have returned to the boom levels of a decade ago — which foreshadowed the bursting of the real estate “bubble” and the onset of The Great Recession — but today’s housing market is starkly different,… Please follow and like us:

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Why we need to save the Consumer Financial Protection Bureau

By Jeff Sovern, Professor of Law, St. John’s University, Gina M. Calabrese, Professor of Clinical Education, St. John’s University, and Ann L. Goldweber, Professor of Clinical Education, St. John’s University. Republicans in Congress and the White House have been very blunt about their desire to gut the Consumer Financial Protection Bureau – and the threats to… Please follow and like us:

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Trump’s Picks for Fed Chief, Governors Seen As Opportunity to ‘Drain Swamp’

When President Donald Trump took office, there were three vacancies on the Federal Reserve’s Board of Governors. Then, unexpectedly, Fed Vice Chairman Stanley Fischer resigned, effective “on or around October 13, 2017.” Throw in the fact that Fed Chair Janet Yellen’s term as chairman expires Feb. 3, 2018, and it’s very easy to see why so… Please follow and like us:

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Trump should replace Fed Chair Janet Yellen in February

WASHINGTON, August 28, 2017 – In February 2014, President Obama nominated University of California–Berkeley Business and Economics professor Janet Yellen to chair the Federal Reserve System’s Board of Governors. Her four-year term expires February 3, 2018. Should President Trump re-nominate her? Most liberal economists give Yellen high marks for her performance so far. She has maintained… Please follow and like us:

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Yellen defends tougher financial regulations

WASHINGTON — Federal Reserve Chair Janet L. Yellen said Friday that tough new regulations have made the financial system safer with little downside, a strong rebuttal of Republican criticisms that reforms have stunted economic growth. Yellen’s comments at the Federal Reserve Bank of Kansas City’s prestigious policy conference in Jackson Hole, Wyo., could hurt her chances… Please follow and like us:

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Yellen says risk of financial crisis increases if some Trump regulatory rollbacks are enacted

WASHINGTON — Federal Reserve Chairwoman Janet L. Yellen told senators Thursday that the risk of another financial crisis would increase if some Trump administration proposals to roll back regulations were enacted. In her second straight day of Capitol Hill testimony, she walked back her statement last month that she didn’t expect another financial crisis “in our… Please follow and like us:

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Intellectual property rights enforced by strong patent rules

A deteriorating intellectual property regime in the U.S. has been quietly unfolding over the last decade and has contributed to the declining standard of living for middle class Americans, the stagnant economy, and the outsourcing of high-tech manufacturing. The Great Recession of 2008 technically ended in June 2009, but normal recovery never got traction in the… Please follow and like us:

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Draining the Dodd-Frank swamp

The House just passed the Financial CHOICE Act, which enacts major reforms to the Dodd-Frank Act, signed into law by President Obama in 2010. The 2,300-page Dodd-Frank Act was passed to fix what supposedly was broken in our financial system that led to the massive financial collapse in 2007. The potential economic impact of the sweeping… Please follow and like us:

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Cheers, jeers for House passage of Financial Choice Act

WASHINGTON, June 9, 2017 – There were cheers and jeers as the House of Representatives voted on a replacement to the Dodd-Frank financial industry legislation, passed early in the first administration of Barack Obama. The House of Representatives passed the Financial Choice Act by a vote of 223-186 in a near party line vote. The bill… Please follow and like us:

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House votes to undo key parts of Dodd-Frank financial reform law

House Republicans voted Thursday to eviscerate much of the Dodd-Frank financial-regulations law, moving to wipe out one of President Obama’s signature accomplishments enacted to crack down on Wall Street in the wake of the 2008 crisis. GOP leaders said the 2010 law backfired, imposing too many burdens on community banks while encouraging even greater market concentration… Please follow and like us:

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