Daily Digest – May 25. Full Appeals Court Hears Arguments in CFPB Leadership Case; President Proposes Gutting CFPB Budget

Gavel

FULL APPEALS COURT HEARS ARGUMENT IN PHH V. CFPB CASE The full panel of nine judges who make up the U.S. Court of Appeals for the District of Columbia heard arguments yesterday about the constitutionality of the leadership structure of the Consumer Financial Protection Bureau and whether the president should be allowed to fire the director of the...

Daily Digest – May 24. Voters in Battleground States Want CFPB Leadership Structure Changed; Appeals Court To Hear Arguments About CFPB Leadership Structure Today

CFPB Headquarters

VOTERS IN BATTLEGROUND STATES WANT CFPB LEADERSHIP STRUCTURE CHANGED Registered voters in eight battleground states would prefer the leadership structure of the Consumer Financial Protection Bureau be changed to a multi-person commission from a single director, according to a newly issued poll. Only 14% of those polled said the current...

Daily Digest – May 23. Why We Lie; Santander Verified Income on 8% of Loans in Recent Securitization

Lie

WHY WE LIE Repossession agents deal with a lot of people who lie. People who cover up why they are not able to make their payments or who are too embarrassed to tell the truth. Understanding why people lie is a soft skill that can help repossession agents be more empathetic, help them better grasp the nature of psychology, and teach them to be...

Daily Digest – May 19. Class-Action Lawsuit Filed Alleging Repossessions By Unlicensed Agent

Gavel

MAN FILES CLASS-ACTION LAWSUIT ALLEGING CARS WERE REPOSSESSED BY UNLICENSED AGENT A Chicago man has filed a class-action lawsuit against Community Lenders Inc. and Brian Decker for allegedly repossessing cars without a license. The plaintiff had his car repossessed last year and it was done so without proper notice, according to the suit, which...

Daily Digest – May 18. Total Household Debt Reaches New Level As Red Flags Raised on Auto Loans; Repo Man Arrested For Stealing Property While On The Job

Red Flags

TOTAL HOUSEHOLD DEBT SURPASSES 2008 LEVEL; RED FLAGS RAISED ON CREDIT CARDS, AUTO LOANS The total amount of household debt reached $12.73 trillion as of the March 31, up $149 billion from the fourth quarter of 2016, according to data released yesterday by the Federal Reserve Board of New York. The $12.73 trillion is the highest amount ever...

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