financial reform

CFPB Plans to Fix “Anti-Housewife” Credit Card Law

The Credit CARD Act of 2009 ushered in a slew of new protections for credit cardholders, but it also led to some unintended consequences. One of the biggest was the clause that can be thought of as the “stay-at-home-mom penalty,” and the Consumer Financial Protection Bureau now says it’s going to fix that. 

Credit Bureaus Will Get New Federal Oversight

It’s a move consumer advocates say has been needed for a long time: This morning, the Consumer Financial Protection Bureau announced that it will start supervising large credit reporting agencies — the first time these companies have ever been subject to such oversight at the federal level.

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