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Facebook, CFPB, and the Mafia

Katherine O'Hara | September 22, 2017

In case you missed it this week, Facebook tries to get onto offense, a Mafia-linked fraud scheme was taken down by a DUI, and the Department of Education and CFPB break up.

You're not my study partner anymore | The Department of Education is calling it quits with the Consumer Financial Protection Bureau, one of the biggest student loan watchdogs. The CFPB, born in 2011 from the Dodd-Frank Act, had a sweet setup with the DoE, allowing the two to trade pertinent information. This aided the Bureau when they went to bat against potentially shady loan companies, but critics said that with too many cooks in the regulatory kitchen, the CFPB was all talk. The breakup comes months after the Obama-appointed top federal student aid official resigned (suddenly), leaving a former student loan company CEO to...

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