TransUnion is an American consumer credit reporting agency. TransUnion collects and aggregates information on over one billion individual consumers in over thirty countries including "200 million files profiling nearly every credit-active consumer in the United States". Its customers include over 65,000 businesses. Based in Chicago,Illinois,TransUnion's 2014 revenue was US$1.3 billion. It is the smallest of the three largest credit agencies,along with Experian and Equifax.
Benjamin Zachary Konop is a Senior Litigation Counsel in the Office of Enforcement at the Consumer Financial Protection Bureau in Washington,D.C. He also was a law professor and attorney in private practice.
A debt buyer is a company,sometimes a collection agency,a private debt collection law firm,or a private investor,that purchases delinquent or charged-off debts from a creditor or lender for a percentage of the face value of the debt based on the potential collectibility of the accounts. The debt buyer can then collect on its own,utilize the services of a third-party collection agency,repackage and resell portions of the purchased portfolio,or use any combination of these options.
Regulatory responses to the subprime crisis addresses various actions taken by governments around the world to address the effects of the subprime mortgage crisis.
The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 is a federal statute passed by the United States Congress and signed by U.S. President Barack Obama on May 22,2009. It is a comprehensive credit card reform legislation that aims "to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan,and for other purposes." The bill was passed with bipartisan support by both the House of Representatives and the Senate.
The Dodd–Frank Wall Street Reform and Consumer Protection Act,commonly referred to as Dodd–Frank,is a United States federal law that was enacted on July 21,2010. The law overhauled financial regulation in the aftermath of the Great Recession,and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry.
Michael S. Barr is an American legal scholar who has been serving as second vice chair of the Federal Reserve for supervision since 2022. From 2009 to 2011,he was assistant secretary of the treasury for financial institutions under President Barack Obama. At the University of Michigan,he has been serving as faculty member since 2001,professor of law since 2006,professor of public policy since 2014.
The Center for Responsible Lending (CRL) is a nonprofit organization research and policy group based in Durham,North Carolina,United States. Its stated purpose is to educate the public about financial products and to push for policies that curb predatory lending. On its website and elsewhere,CRL describes its mission as that of "protecting homeownership and family wealth by working to eliminate abusive financial practices." CRL is affiliated with the Center for Community Self-Help.
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. CFPB's jurisdiction includes banks,credit unions,securities firms,payday lenders,mortgage-servicing operations,foreclosure relief services,debt collectors,and other financial companies operating in the United States. Since its founding,the CFPB has used technology tools to monitor how financial entities used social media and algorithms to target consumers.
In the legal code of the United States,a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments. Money transmitters in the US are part of a larger group of entities called money service businesses,or MSBs. Under federal law,18 USC §1960,businesses are required to register for a money transmitter license where their activity falls within the state definition of a money transmitter.
We Can't Wait is a policy initiative launched by the U.S. President Barack Obama's administration in October 2011 to institute policies by executive orders,administrative rulemaking,and recess appointments. The initiative was developed in response to the United States Congress' unwillingness to pass economic legislation proposed by Obama,and conflicts in Congress during the 2011 debt ceiling crisis.
LendUp was an American online direct lender. It offered payday loans,installment loans,and credit cards to consumers with low credit scores using publicly available data to assess creditworthiness. The company referred to its customers as “the emerging middle class.”LendUp also issued credit cards in partnership with Tom Steyer's Beneficial State Bank.
The Consumer Financial Protection Safety and Soundness Improvement Act of 2013 is a bill that would restructure the Consumer Financial Protection Bureau (CFPB) by transforming it into a five-person commission and removing it from the Federal Reserve System. The CFPB would be renamed the "Financial Product Safety Commission." This bill is also intended to make overturning the decisions about regulations that the new commission makes easier to do.
The Mortgage Choice Act of 2013 is a bill that would direct the Consumer Financial Protection Bureau (CFPB) to amend its regulations related to qualified mortgages to reflect new exclusions made by this bill. The CFPB released new regulations regarding the definition of a Qualified Mortgage that took effect in January 2014,a definition that this bill would modify.
StreetShares,Inc. is a financial technology company and small business funding marketplace based outside of Washington,D.C.
Keith A. Noreika is an American lawyer who specializes in the regulation of financial institutions. He served as Acting Comptroller of the Currency from May 5,2017,to November 27,2017,following the 30th Comptroller of the Currency,Thomas J. Curry,and preceding the 31st Comptroller of the Currency,Joseph Otting. Noreika rejoined the law firm of Simpson Thacher on January 8,2018. He joined Patomak Global Partners as Executive Vice President and Chairman of its Banking Supervision and Regulation Group on July 5,2022.
Leandra English is an American political advisor serving as an advisor to the Superintendent of the New York State Department of Financial Services. She formerly was the Deputy Director of the Consumer Financial Protection Bureau (CFPB) from 2017 until her resignation in 2018. She was the plaintiff in the lawsuit English v. Trump,in which she unsuccessfully sought to have herself acknowledged as Acting Director of the CFPB.
Rohit Chopra is an American consumer advocate who is the third director of the Consumer Financial Protection Bureau (CFPB) and previous member of the Federal Trade Commission (FTC). Prior to this,Chopra served as assistant director of the CFPB and as the agency's first Student Loan Ombudsman,an office created by the Dodd–Frank Act.
Kathleen Laura Kraninger is an American government official who served as director of the Consumer Financial Protection Bureau (CFPB) from December 11,2018,until her resignation on January 20,2021. Before that,she served in the White House Office of Management and Budget during the Trump administration.
Collins v. Yellen,594 U.S. ___ (2021),was a United States Supreme Court case dealing with the structure of the Federal Housing Finance Agency (FHFA). The case follows on the Court's prior ruling in Seila Law LLC v. Consumer Financial Protection Bureau,which found that the establishing structure of the Consumer Financial Protection Bureau (CFPB),with a single director who could only be removed from office "for cause",violated the separation of powers;the FHFA shares a similar structure as the CFPB. The case extends the legal challenge to the federal takeover of Fannie Mae and Freddie Mac in 2008.
