White House hits 'trifecta' on CFPB - Europe watch: New losses for Spanish ...
( bwhite@politico.com ; Twitter: @morningmoneyben )
WHITE HOUSE HITS “TRIFECTA” ON CFPB - The White House got widespread praise on the left for the Richard Cordray non-recess recess appointment as well as the expected outrage and legal threats from Republicans and the banking industry. But even some senior banking executives acknowledged that the move, while infuriating, fit perfectly into the new frame the White House has hung on 2012. One top lobbyist told M.M.: “They love the fight with the trifecta: The GOP, Congress and Wall Street. All in one sound byte.”
As for the lawsuits, they will probably wait until the CFPB actually issues some kind of rule or enforcement action and the party it impacts challenges the agency’s right to do it. Will such a lawsuit succeed? Consensus seems to be ... probably not. And from a political perspective such a lawsuit won’t get decided for quite a while and won’t really matter. In the meantime, Cordray has promised to quickly ramp up the agency’s supervision of non-banks and the White House gets the story line it wants.
WHY NOT WARREN? - A number of Democrats and Republicans asked M.M. yesterday why, if Obama was willing to take this bold step, he wouldn’t do it for Elizabeth Warren, the darling of the left and intellectual architect of the CFPB. Some suggested the White House found Warren difficult and wanted someone else. M.M. knows Warren had a rocky relationship with some inside Treasury. But he has no reason to think the West Wing did not like her. And the more obvious answer is that the super-aggressive stance towards Congress is fairly new. And the White House sensibly preferred that Warren take on Sen. Scott Brown (R-Mass.), a top 2012 target (who came out in FAVOR of the Cordray move.)
WHAT ABOUT OFFICE OF LEGAL COUNSEL? - From a GOP attorney: “In the category of things that make you go hmm: When the President wants legal authority he typically goes to the Office of Legal Counsel (OLC) at the Justice Department. But when Jay Carney was pressed today on the legal authority for its position that the Senate is in recess, he did not cite OLC, but rather ‘the President's counsel,’ and two lawyers from the Bush Administration who are in private practice. Does this mean OLC would not give the White House the opinion it wanted, or that the DOJ was embarrassed that the President's position was at odds with the positions the OLC has taken publicly in the past?
Bad Credit Loan Personal W - News
Many underwater homeowners who try to negotiate with their lender can't even find out who owns their loan. "We're finding that people are much more willing to walk away when the other party is unknown or what you might call a 'bad bank,'" said Seiler.
One last thing: I assume that you feel that someone with bad credit just doesn't give a damn and didn't pay their bills although they had the money. There are people in bad situations that could not afford their bills for just long enough that the
I know they are running against him, but they don't give credit at all and that is not trust worthy. They try to demonize him with everything, and that shows their partison agenda. We need our politics to work for the citizens, not scrutinize each
Also on FHA loan you can buy 2 years after a Chapter 7 bankruptcy. Do you agree with this opinion? Add a comment below to sound off. “Honor your mortgage contract”: By Tracy W. Smith with HomeSmart Realty In my view if everyone paid there mortgage
By JESSICA SILVER-GREENBERG A personal bankruptcy is supposed to cut borrowers loose from lenders and debt collectors, but Capital One Financial Corp.—one of the nation's largest credit-card issuers—sometimes doesn't want to let go.
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