Ken’s Recent Stories
Nation Aug 16Trump appoints student loan industry executive to be top loan watchdog
It's a job designed to protect student loan borrowers from poor practices in the student loan industry and one of the few positions explicitly named in the Dodd-Frank Act, the law passed after the 2008 financial crisis that created the…
Nation Jul 30What you need to know about the Capital One data breach
The alleged hacker, Paige A. Thompson, obtained Social Security and bank account numbers in some instances, as well other information such as names, birthdates, credit scores and self-reported income, the bank said Monday.
Politics Apr 10CEOs of big banks defend more resilient financial system since crash
The heads of seven of the largest banks in the U.S. fielded sometimes contentious questions from a House committee Wednesday, some dealing with current risks to the financial system and other focused on more politically charged topics.
Economy Feb 06Financial watchdog to gut its payday lending rules
Consumer Financial Protection Bureau is getting rid of a requirement that lenders make sure borrowers could afford to repay a payday loan without being stuck in a cycle of debt, a standard known as "ability to repay."…
Education Aug 27Nation’s top student loan official resigns
The government's top official overseeing the $1.5 trillion student loan market resigned in protest today, citing what he says is the White House's open hostility toward protecting the nation's millions of student loan borrowers.
Politics Jul 19Trump’s pick to run consumer watchdog faces skeptical Senate
Kathy Kraninger, 43, was a relatively unknown mid-level bureaucrat working inside the Office of Management and Budget before being nominated by President Trump last month to lead the Consumer Financial Protection Bureau.
Economy Apr 20Wells Fargo fined $1 billion for mortgage, auto lending abuses
Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion…
Politics Nov 27Who is the acting director of the Consumer Financial Protection Bureau? A judge has yet to rule
Leandra English has filed a lawsuit seeking a temporary restraining order to block Mick Mulvaney from taking over the bureau.
Nation Nov 15CFPB Director Cordray, who sparred with GOP, plans to resign
NEW YORK — Richard Cordray, the aggressive first director of the Consumer Financial Protection Bureau, said Wednesday he will leave the agency by the end of the month.
Nation Oct 022.5 million more Americans may be affected by Equifax hack, company says
The update comes as Equifax's former CEO, Richard Smith, who announced his retirement last month, will testify in front of Congress starting Tuesday.