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Restoring American Financial Stability Act
Latest Restoring American Financial Stability Act Items
In a defiant display of executive power, President Obama on Wednesday will buck GOP opposition and name Richard Cordray as the nation's chief consumer watchdog, even though the Senate contends the move is inappropriate, senior administration officials told the Associated Press.
House Republicans have a not-so-secret weapon that could bring the National Labor Relations Board to a halt and block Democrats' Wall Street watchdog agency from getting started — and all it requires is just sitting around.
President Obama isn't backing down after Senate Republicans on Thursday blocked his nominee from becoming the first director of the Consumer Financial Protection Bureau.
A simpler credit card agreement is getting a tryout.
Senate Republicans are poised to block yet another one of President Obama's nominees as they threaten to filibuster his choice for the first director of the new Consumer Financial Protection Bureau, in what's turning into a fight over the agency's accountability and oversight.
House Republicans concerned about a lack of accountability at the Consumer Financial Protection Bureau have requested information from the independent agency about its spending.
The lawmaker who led the charge against hefty new bank debit-card fees is turning his attention to checking accounts.
The legacy of President Obama's time in office has been an unprecedented expansion of the federal government. A perfect example of this is the Consumer Financial Protection Bureau (CFPB), which is part of the Dodd-Frank financial regulatory law. Even though this brand-new bureaucracy opened for business in July, most Americans have never heard of it - and they won't so long as it remains leaderless.
President Obama and Sen. Richard J. Durbin, Illinois Democrat, lambasted Bank of America on Monday for introducing a $5 per month fee for debit card use. They both threatened to employ Washington's vast regulatory apparatus, including the Consumer Financial Protection Bureau, to rein in rapacious, fee-happy bankers preying on hapless consumers. Ominously, Mr. Obama said the "sole job" of the bureau and its director nominee, Richard Cordray, is to prevent fees such as Bank of America's from taking effect.