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Nadia Prupis – Trump Considering GOP Lawmaker Who Despises Consumer Watchdog To Head It

President-elect Donald Trump is getting closer to debilitating the Consumer Financial Protection Bureau (CFPB), the watchdog agency founded by Sen. Elizabeth Warren (D-Mass.) that many warned could be an early target for the incoming administration. Trump on Wednesday met with former Rep. Randy Neugebauer (R-Texas), who the Huffington Post reports is a front-runner to take over the agency if the …

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Pam Martens and Russ Martens – Wall Street Today: Fake Accounts, Fake Money, Fake Courts, Fake Regulators

Last Thursday, the Consumer Financial Protection Bureau (CFPB) announced that Wells Fargo was paying $185 million in fines and penalties for allowing its employees to open “more than two million deposit and credit card accounts” that were not authorized by its customers. The employees were attempting to “hit sales targets and receive bonuses.” In one of the most audacious forms of bank fraud, …

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Shawn Aiken – New Jersey Divests from Payday Lending

When Phyllis Salowe-Kaye learned that the New Jersey State Investment Council (NJSIC) had invested 50 million state pension dollars with a private equity firm that used some of the funds to purchase a predatory payday lender, she went through the proverbial roof. The longtime executive director of New Jersey Citizen Action (NJCA) quickly assembled a powerful coalition of consumer protection …

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Cracking Down on Abusive Debt Collectors

Have you ever picked up your phone to find an aggressive voice on the other end demanding payments on a debt you know nothing about? You’re far from alone. Once you’re in the sights of a debt collector, the impact on your life can be devastating: Your wages can be garnished and your credit ruined. You might lose your driver’s …