Politics. On Point.

The Department of Justice and the Consumer Financial Protection Bureau (CFPB) signed an agreement today to strengthen coordination on fair lending enforcement and avoid duplication of their respective federal law enforcement efforts.  “The Department of Justice welcomes the new tools and resources the CFPB can bring to the fight against lending discrimination,” said Thomas E. Perez, Assistant Attorney General for the Civil Rights Division. “Cooperation between our two agencies promotes strong and effective civil rights enforcement, and today’s agreement will further our ongoing collaborative efforts.” “Discrimination undermines equal access to credit,” said Richard Cordray, Director of the CFPB. “Today’s agreement is a critical step to better protecting consumers from illegal and discriminatory lending practices. We look forward to continuing our partnership with the Justice Department under this new framework.” The memorandum of understanding (MOU) can be found here . U...

Accountability From Wall Street Means Protection For You. No more exorbitant credit card rate hikes, and unexpected overdraft fees. No more footing the bill for Wall Street. No more complex mortgage fees. That was the order of the day set by President Obama as he signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act during a ceremony at the Ronald Reagan Building today. (See video ). President Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act into law.  Photo/CD Brown. The President was joined by an array of individuals instrumental in the legislation, including consumer advocates, business leaders, state and local officials, and members of Congress, including two Americans Americans struggled with credit card rate hikes. The bill is named for the work of Senate Banking Committee Chairman Christopher Dodd (D-CT) (C) and House Financial Services Committee Chairman Barney Frank (D-MA). "For the last year, Chairmen ...