'A consumer protection agency should not be performing a 'joint study' with a regulated business, especially one aimed at promoting that business’ product,' writes hiltzikm.
he drew a sharp distinction between his viewpoint and that of his Democratic predecessor, Richard Cordray, who took his job as a regulator seriously. In his talk to the financial executives, Mulvaney implied that Cordray had “abused” his authority by taking an overly aggressive stance on regulation..
That brings us to the question of whether H&R Block is an appropriate partner for the CFPB at any level. The firm, of course, is best known as an operator of storefront tax preparers and for its tax-preparation software. It will be recalled that Block and its chief competitor, Intuit — the maker of TurboTax software — were both sued in May by Los Angeles City Atty. Mike Feuer for allegedly
The outrageous scandal at Wells Fargo & Co., for which federal and local regulators hammered the bank for $185 million in fines and penalties earlier this month, speaks volumes about the decline of morality in corporate America. What does H&R Block get out of this? On the face of it, fees, and plenty of them. Block tells customers that the card has “no setup fee, no annual fee and no fee for purchases.” Mmm ... that’s not the whole story., holding the Emerald Card can run into money. For example, it will cost you up to $4.95 every time you reload your card balance at a retail store; if you reload by check, it will cost up to 4% of the check amount, with a minimum of $2.
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