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| June 29, 2017

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Consumer Archives -

Consumer bureau director defends handling of Wells Fargo scandal in face of GOP criticism

June 19, 2017 |

The federal government’s consumer financial watchdog is defending his handling of the Wells Fargo & Co. unauthorized accounts scandal in the face of Republican charges that the agency failed to catch the problem and has stymied a congressional investigation into how it handled the case.

Richard…


L.A. Times – Business

House Republicans threaten consumer watchdog with contempt of Congress

June 12, 2017 |

House Republicans this week threatened Richard Cordray, the embattled director of the Consumer Financial Protection Bureau, with contempt of Congress, saying his agency has not complied with a demand to provide documents related to Wells Fargo & Co.’s unauthorized accounts scandal.

In a staff report…


L.A. Times – Business

Bill to loosen financial rules would save $24 billion — and slash consumer protection bureau funds

May 22, 2017 |

The House Republican legislation scaling back Dodd-Frank financial regulations would reduce federal budget deficits by $ 24.1 billion over the next decade — in part by slashing funding for the Consumer Financial Protection Bureau, according to an estimate by the nonpartisan Congressional Budget…


L.A. Times – Business

Eurozone Consumer Confidence at Highest Level in Nearly a Decade

May 19, 2017 |

The victory of a pro-European centrist in France’s presidential election has delivered a further boost to already high consumer confidence in the eurozone.
WSJ.com: What’s News Europe

U.S. Consumer Prices Rose Modestly in April

May 14, 2017 |

Consumer prices rose only modestly in April, a sign inflationary pressures are stabilizing this spring after a monthslong acceleration.
WSJ.com: US Business

Consumer agency chief, his job on the line, takes Republican attacks in stride

May 12, 2017 |

Republican lawmakers are pushing a bill through Congress that would allow the president to sack the director of the Consumer Financial Protection Bureau at any time for any reason.

But what are the odds President Trump would fire the head of a government agency he has issues with?

Cough.

The Republican…


L.A. Times – Business

Stocks rise, led by tech and consumer companies

April 17, 2017 |

U.S. stocks are starting higher Monday as investors get back to trading after the Easter holiday weekend. Technology and consumer-focused companies are making some of the largest gains after the Chinese government said that country’s economy grew at a slightly faster pace in the first quarter….


L.A. Times – Business

Consumer prices dip 0.3% — largest amount in more than two years

April 14, 2017 |

Consumer prices fell in March by the largest amount in more than two years, pushed lower by another sharp decline in the price of gasoline and other energy products.

Consumer prices dropped 0.3% in March following a tiny 0.1% rise in February, the Labor Department reported Friday. It was the first…


L.A. Times – Business

GOP lawmaker, pockets stuffed with bank cash, leads assault on consumer bureau

April 10, 2017 |

Texas Republican Jeb Hensarling, who chairs the House Financial Services Committee, was trying to be funny. It’s the only explanation.

Otherwise, we’re left to assume that Hensarling was being the world’s biggest corporate shill and hypocrite when he accused the head of the Consumer Financial Protection…


L.A. Times – Business

Rising incomes and confidence haven’t accelerated consumer spending, which posts smallest gain in six months

April 2, 2017 |

Rising incomes and confidence haven’t accelerated consumer spending, which posted its smallest gain in six months in February, the Commerce Department said Friday.

Personal consumption expenditures increased just 0.1%, below economists’ expectations and down from 0.2% in January. Spending increased…


L.A. Times – Business