The CFPB is assisting the Department of Education with creating a “financial aid shopping sheet” that colleges could use to improve information for students and their families. The draft shopping sheet is posted on the CFPB website, where comments from students, families, and other stakeholders are sought. It includes estimated monthly payments after leaving school and helpful school-related information such as graduation rates. And, importantly, it allows students to compare an offer from one school […]
Tag: Consumer Financial Protection Bureau
CFPB – NEW OFFICE OF OLDER AMERICANS
The Consumer Financial Protection Bureau (CFPB) recently announced the selection of Hubert H. (“Skip”) Humphrey III to head up the newly established Office of Older Americans. Humphrey has spent much of his professional life working to protect consumers, serving first as a state Senator and later as Attorney General of Minnesota. He has also worked on behalf of seniors as president of the Minnesota AARP and, until recently, served on AARP’s national board. The Dodd-Frank […]
CFPB SUPERVISION AND EXAMINATION MANUAL
On October 14, 2011 the Consumer Financial Protection Bureau (CFPB) published it’s Supervision and Examination Manual. The CFPB will begin it’s first examinations in the next few weeks. The publication of the manual is a big deal, but is it a big deal for your institution? Probably not. The CFPB only examines institutions with more than $10 billion in assets, that group includes a little over 100 banks nationwide. So, if you are in that […]
THE POLITICAL CIRCUS
The Dodd-Frank Act is one the most significant pieces of legislation to ever impact the banking industry. Our lives would be much simpler if the law never happened, but the law did happen and we all have to deal with it. Instead of dealing with the law in a quick decisive manner Congress and the current administration have turned it into a political circus. Dodd-Frank became law on July 21, 2010. The law contains hundreds […]