Earlier this week, President Obama officially appointed Richard Cordray as Director of Consumer Financial Protection Bureau (CFPB), a relatively new agency designed to protect against the massive loophole-mining and financial excesses that led to the recession. Despite his experience and credentials, Republicans immediately called foul because the President pushed through what’s called a “recess appointment,” bypassing the usual Senate confirmation process. Here’s a brief overview of what happened and why. Read More What’s the Fuss About Cordray?
Earlier this week, President Obama announced a new plan to help Americans get their student loan debt under control. The plan, which will be rolled out in phases, addresses three major pieces of the student loan structure that have financially crippled so many households across the country: pre-loan disclosure, ease of consolidating loans, and size of student loan payments. Read More Student Loan Reforms and You