White House Threatens to Veto Bill That Cuts CFPB Funding

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, Government, News Tagged with: CFPB Proposed Legislation White House Print This Post Servicers Navigate the Post-Pandemic World 2 days ago President Barack Obama has threatened to veto a proposed amendment to the Consumer Financial Protection Act of 2010 that the White House claims would reduce the amount of funding the CFPB director can request.H.R. 1195, known as the Bureau of Consumer Financial Protection Advisory Boards Act, was introduced in the House by Robert Pittenger (R-North Carolina) and Denny Heck (D-Washington) on March 2. The bill calls for the establishment of advisory boards or councils within the CFPB of 15 to 20 members each for small businesses, credit unions, and community banks. The stated purpose of each advisory board or council is to “advise and consult” with the CFPB on issues that impact their respective groups. The bill was approved in the House Financial Services Committee earlier this year by a vote of 53 to 5.A recently proposed amendment to the bill by House Financial Services Committee Jeb Hensarling (R-Texas), however, reduces the amount of funding the CFPB director can request by about $45 million and $100 million for the fiscal years of 2020 and 2025, respectively. The White House said in its statement that “These reductions to the caps could result in, among other things, undermining critical protections for families from abusive and predatory financial products.”The bill’s co-sponsor, Heck, is urging his fellow Democrats to oppose the amendment to the bill, saying that Hensarling “put the torch” to his bill.Republicans have been attempting to chip away at the CFPB, and at the Dodd-Frank Act which created the Bureau, for the last three years but have made an extra push since gaining a majority in both the House and the Senate last November. Democrats have vowed to fight the Republicans’ attempts to reduce Dodd-Frank or the CFPB’s power, but last week, a bill passed in the House with overwhelming bipartisan support (a vote of 401 to 2) that would subject the CFPB to the provisions of the Federal Advisory Committee Act, making the proceedings of each advisory committee and subcommittee of the CFPB open to the public. The bill was one of several introduced in early March by Representative Sean Duffy (R-Wisconsin).Other legislation attempting to reform the CFPB is currently pending. In February, Representatives Steve Stivers (R-Ohio) and Tim Walz (D-Minnesota) revived a bipartisan bill that would create an independent Inspector General for the CFPB that is appointed by the president and approved by the Senate. The Bureau currently shares an IG with the Federal Reserve, a position that is appointed by the Fed chair and not subject to Senate approval. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / White House Threatens to Veto Bill That Cuts CFPB Funding Previous: CFPB, FTC Penalize Green Tree For Alleged Servicing Violations Next: Mortgage Industry and Default Servicing Law Firms Convene at Legal League Servicer Summitcenter_img Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea April 21, 2015 2,047 Views CFPB Proposed Legislation White House 2015-04-21 Brian Honea White House Threatens to Veto Bill That Cuts CFPB Funding Sign up for DS News Daily Subscribelast_img read more

Foreclosure Starts Plunge to Lowest Monthly Total in Nearly a Decade

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure Starts Plunge to Lowest Monthly Total in Nearly a Decade Print This Post Related Articles Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: CFPB: Consumers are Complaining Less About Ocwen Next: DS News Webcast: Wednesday 12/23/2015 Black Knight Financial Services First Look at Mortgage Data Foreclosure Inventory Foreclosure Starts Foreclosures 2015-12-23 Brian Honea in Daily Dose, Featured, Foreclosure, News About Author: Brian Honea Some foreclosure metrics have long been approaching or below pre-crisis levels. Foreclosure starts reached a new low in November, however, falling to their lowest level in nearly 10 years, according to Black Knight Financial Services’ First Look at Mortgage Data for November 2015 released Wednesday.November’s total of 66,600 foreclosure starts was the lowest total for one month since April 2006, about two and a half years before the beginning of the housing crisis. The total represents a 9 percent decline from October and nearly a 10 percent decline from November 2014, according to Black Knight. Foreclosure inventory was also way down in November, falling by about 185,000 properties year-over-year down to about 698,000—or approximately 1.38 percent of all residential mortgages in the U.S.While foreclosure starts were steadily declining, however, the number of both 30- and 90-day delinquencies experienced seasonal upticks. The total of mortgage loans that were 30 days overdue but not in foreclosure increased by about 76,000 over-the-month up to about 2.49 million, or 4.92 percent of all mortgages. Despite the monthly increase, that total fell by more than half a million (546,000) year-over-year, according to Black Knight. Concurrently, the number of mortgages that were 30 days or more overdue or in foreclosure rose by about 53,000 from October to November, up to 3.2 million. Despite the monthly increase, that number represented a year-over-year drop of nearly three-quarters of a million (732,000)/The number of residential mortgage loans 90 days or more delinquent but not in foreclosure ticked up from October to November by about 7,000 properties, up to about 827,000, according to Black Knight. That total declined year-over-year by more than a quarter of a million, however (293,000).The monthly pre-payment rate, which is normally a good indicator of refinance activity, inched upward year-over-year by 0.4 percent but took a substantial tumble from October to November of about 16 percent, down to 0.92 percent, according to Black Knight.center_img Tagged with: Black Knight Financial Services First Look at Mortgage Data Foreclosure Inventory Foreclosure Starts Foreclosures Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago December 23, 2015 6,552 Views Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Home / Daily Dose / Foreclosure Starts Plunge to Lowest Monthly Total in Nearly a Decade Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Only girls aloud

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

Wembley Sports to partner government to construct 100 parks

first_imgWembley Sports Construction Company Limited says it is ready to partner the government to deliver on President Nana Addo Dankwa Akufo-Addo’s promise to construct a community sports complex within the Zongos and inner cities across the country. Last week, the Ghana President commissioned a mini stadia, Lord’s Wembley Plus+ which doubles as a community center for the people of Shukura (Losso), a suburb in Ablekuma Central Constituency of the Greater Accra Region, with a pledge that the Zongo Development Fund established by the government would continue to promote and support sports infrastructure development in Zongos and inner cities. The state-of-the-art park was constructed by Wembley Sports Construction Limited, a solely owned Ghanaian company with expertise in artificial turf construction across the country. The park has about 450- seater stands for spectators floodlights, an inner perimeter, fencing two separate changing and washrooms, VIP sitting area, a gym, conference area and offices.The Chief Executive Officer of Wembley Sports Construction Limited, Robert Tetteh Coleman, has revealed his firm would roll out 100 artificial football parks across the country in 2019 to help develop sporting talents within the communities and also curb challenges with the non-availability of playgrounds within Zongos and inner cities. Mr Coleman has called on all stakeholders to join hands in the execution of the project known as “One Constituency, One artificial Football Park” and its realisation would provide the environment to help unearth football talents, protect players from career-threatening injuries and curtail juvenile delinquencies.The Shukura park brings to 10 the number of artificial foot all fields constructed by Wembley Sports Limited after similar parks at Madina Zongo and Accra Academy in Greater Accra Region, Walewale Zongo park in the Northen Region, Kyebi Zongo park in the Eastern Region.For his part, Lord Oblitey Commey, the director of Operations at the Presidency and a brainchild of the project, said he feels proud that the people of Ablekuma Central can also boast of a modern playing field to help develop talents in and around the community.last_img read more

Chances Increasing for Local Rain, Flooding from Tropical Systems

first_imgThe tropical wave that is currently moving across the Atlantic Ocean from off the coast of Africa now has a 70 percent chance of strengthening into a tropical cyclone over the next five days, according to the National Hurricane Center’s 8 p.m. Wednesday advisory.Meanwhile, another tropical wave that has been affecting Puerto Rico and the southeastern Bahamas has just a 10 percent chance of becoming a tropical cyclone — which refers to tropical depressions, tropical storms and hurricanes — although it could still bring rain and flooding to our region this weekend.NHC meteorologist David Zelinsky says that system “is forecast to move northwestward to northward during the next couple of days, producing locally heavy rainfall over portions of the Greater Antilles, the Bahamas and Florida. Conditions could become marginally conducive for development over the weekend while the system turns and accelerates northeastward off the southeast U.S. coast.” The South Florida forecast office of the National Weather Service also says the tropical wave currently in the Caribbean will “bring a chance for heavy rainfall and localized flooding into the weekend.” Forecasters note that minor coastal flooding could be possible, as a new moon and higher-than-average tides combine with the expected rain. South Florida could see 2 to 3 inches of rain through the weekend.The system near Africa is expected to continue traveling west over the open Atlantic at about 15 miles per hour. If it develops into a tropical cyclone, it would be called Chantal, the third named storm of the 2019 hurricane season.Hurricane season runs from June 1 through November 30.last_img read more