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Federal Reserve System reports annual net income exceeding $63B

PROVIDENCE – The Federal Reserve System’s estimated net income for 2018 is $63.1 billion, the Fed announced. The figure represents the combined profit of...
MICK MULVANEY, acting director of the Consumer Financial Protection Bureau, says the bureau is “too powerful” and is requesting Congress make changes that would effectively make the bureau less independent. / BLOOMBERG FILE PHOTO/ZACH GIBSON

CFPB acting director calls agency ‘too powerful’

PROVIDENCE – In his first report as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is calling his agency “too powerful.”Mulvaney, an...
THE CONSUMER FINANCIAL Protection Bureau recently published a blog detailing all the ways people can save for unexpected expenses.

CFPB offers tools to help families save for future, unexpected expenses

PROVIDENCE – The Consumer Financial Protection Bureau is highlighting a host of tools it provides for individuals and families to save for emergencies and...
RICHARD CORDRAY, director of the Consumer Financial Protection Bureau will step down at the end of the month. / BLOOMBERG FILE PHOTO/ANDREW HARRER

CFPB’s Cordray to step down, allowing Trump to remake agency

NEW YORK - Richard Cordray will step down as the head of a controversial consumer watchdog at the end of the month amid growing speculation...
ACCORDING TO THE Consumer Financial Protection Bureau's "Mortgage Performance Trends" tool, Rhode Island's percentage of mortgages of at least 90 days delinquent totaled 1.6 percent, lagging behind the United States and four New England states. / COURTESY CONSUMER FINANCIAL PROTECTION BUREAU

CFPB: Rhode Island mortgage delinquencies lag other N.E. states

WASHINGTON – Rhode Island has a greater percentage of serious delinquent mortgages than most New England states and the United States on average, representing...
THE CONSUMER FINANCIAL Protection Bureau released a report showing it successfully recovered about $14 million in relief for 104,000 harmed customers through the first half of 2017 due to banks misleading consumers about checking account fees and overdraft coverage.

CFPB recovers $14 million for 104,000 consumers nationwide

WASHINGTON – The Consumer Financial Protection Bureau estimates it recovered about $14 million in relief for 104,000 harmed customers through the first half of...
THE CONSUMER FINANCIAL Protection Bureau recently issued a new rule to temporarily change reporting requirements for banks and credit unions that issue home-equity lines of credit.

CFPB issues temporary rule change to home-equity credit reporting

WASHINGTON – The Consumer Financial Protection Bureau last week issued a new rule to temporarily change reporting requirements for banks and credit unions that...

Making lawsuits work for consumers

Congressional Republicans and the Consumer Financial Protection Bureau are clashing over a question that has implications far beyond the world of finance: How far...
Consumer Financial Protection Bureau

CFPB looks to clarify mortgage lending rules

WASHINGTON – Federal regulators are looking to clarify mortgage lending rules regulating financial institutions.The Consumer Financial Protection Bureau last week issued a proposal to...
Consumer Financial Protection Bureau

CFPB fines Experian $3M

WASHINGTON – The Consumer Financial Protection Bureau last month fined Experian, one of the nation’s largest credit-reporting agencies, $3 million based on claims the...
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