FROM Pamela Banks
Consumer Financial Protection Bureau: Hero or Goat? Yesterday, the Consumer Financial Protection Bureau took its first major enforcement action since it began operating a year ago, ordering Capital One Bank to refund about $150 million to two million credit card customers. Bureau Director Richard Cordray says Capital One's telephone vendors used deceptive marketing to sell add-ons like credit monitoring and debt protection. Americans have lost confidence in banks and credit card companies. Is government protection against predatory lending the answer? As the new Consumer Financial Protection Bureau takes its first major action, will it make things better or worse?
Do Consumers Need Protection from Their Banks? Yesterday, the Consumer Financial Protection Bureau took its first major enforcement action since it began operating a year ago. It ordered Capital One Bank to refund about $150 million dollars to two million credit card customers. Bureau Director Richard Cordray says Capital One's telephone vendors used deceptive marketing to sell add-ons like credit monitoring and debt protection. Democrats created the Bureau in response to predatory lending practices. Republicans are still trying to slow it down. Is the CFPB's the confidence-building action consumers have been waiting for or just more regulation that will swamp the finance industry in government red tape? Instead of a government agency with new powers, would it be better to break up the big banks and return personal finance to a human scale?
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
Who's to blame for the opioid crisis? Some of the lawyers who took on Big Tobacco are now going after Big Pharma. It’s all about the deadly epidemic of opioid use. Are the drug companies to blame? What about the users? Later, on today’s Talking Point: making sense of Britain’s upset election.
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.