Op-Ed

Who Really Wins in Class Action Suits?

Our nation was founded with three separate branches of government, each designed to serve as a check on the other two. The Judicial Branch plays the pivotal role of ensuring our laws are applied equally and fairly. While our court system is often considered the gold standard for fairness, it is not immune from people attempting to use it as a tool to turn a profit.

With help from regulators, small-dollar loans can work for banks, borrowers

We have all been there: an inopportune flat tire, a refrigerator on the fritz or a hefty medical cost arising out of the blue. These are just a few examples of unplanned, often-untimely emergency expenses that every family experiences at one point or another.

Consumer bureau harms Americans when it picks the winners and losers

The Consumer Financial Protection Bureau states its mission is to “make consumer financial markets work for consumers, responsible providers, and the economy as a whole.” However, the reality is the bureau does not regard all consumers in the market equally. In the interest of political expediency, it seems to treat consumers who deal with some institutions different than those who deal with others.

To the Dept. of Education: It’s Time for ‘Know Before You Owe’ for Federal Student Loans

The hardest lesson too many college students are learning is the true cost of their federal student loans when the bill from Uncle Sam comes due. Unlike disclosures from private lenders for mortgages, car loans and student loans, the U.S. Department of Education withholds critical financial information meant to inform borrowers of loan terms before funds are provided. Meanwhile, the Consumer Financial Protection Bureau – the agency tasked with protecting and educating financial consumers – has sat idly by as the department continues to conceal the true cost of federal student loan debt.

Where the real stakes lie in today's elections

No matter who wins today’s presidential election, the real stakes are in the next wave of appointed leaders and how they choose to govern the country, according to a blogger for a banking association.

CBA's Hunt Weighs in on CFPB Structure

The Consumer Financial Protection Bureau is headed by a director who single-handedly has jurisdiction over 15,000 institutions and whose decisions impact millions of consumers every day.

This person is judge and jury when it comes to imposing fines, rulemaking activity and supervisory opinions. The structure makes the CFPB director the most powerful person outside of the president of the United States.

It is time to abolish the Durbin Amendment

Government intervention in the markets while well-meaning often leads to unintended consequences.  Flawed policy like the price controls on debit card interchange fees included in the Durbin Amendment to the Dodd-Frank Act was full of promise by merchants to reduce costs for consumers but instead has left them holding the bag at the checkout.  Thankfully, the House Financial Services Committee soon has an opportunity to rectify this harmful policy.