Reform reading: Republicans order up watchdog reports on consumer bureau

By Julie Vorman

A roundup of news and commentary to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law. ...

Excerpts from this story referencing "Consumer Financial Protection Bureau":

"… the Treasury Department and the Federal Reserve to investigate how the new Consumer Financial Protection Bureau is being set up.Spencer Bachus of Alabama, the presumptive chairman of the …"

"… alers Association, which successfully won exemption from regulation by the Consumer Financial Protection Bureau.Biggert also collected contributions from PACs run by Goldman Sachs, JPMor …"

"… s and dates of lobbyists’ meeting with department officials. And the new Consumer Financial Protection Bureau – which is funded by a mandated percentage of the Fed’s revenue – ha …"

No. 23 of The Subprime 25: GreenPoint Mortgage Funding Inc./Capital One Financial Corp.

Total high-interest loans 2005-2007: At least $13.1 billion

Excerpts from this story referencing "Capital One":

"… bailout money received: $3.6 billion Company overview Status: CLOSED. Capital One shut down GreenPoint in the third quarter of 2007. History: Originally a …"

"… int Financial in October 2004 for $6.3 billion in stock. In December 2006, Capital One purchased North Fork. Capital One shut down GreenPoint by the third quarte …"

"… $6.3 billion in stock. In December 2006, Capital One purchased North Fork. Capital One shut down GreenPoint by the third quarter of 2007 at an after-tax loss of …"

"… of 2007 at an after-tax loss of $1 billion. Parent/subsidiary companies: Capital One bought GreenPoint parent company North Fork Bancorp on December 1, 2006. …"

Underwriter uncovered three frauds in one loan, suit claims

By Michael Hudson

Former loan underwriter says fraudulent loans approved at subprime lender

Excerpts from this story referencing "New York":

"… get the loan moving again, Steinmetz said in a lawsuit in federal court in New York.She protested to a manager, Steinmetz said, but GreenPoint funded the loan …"

"… ng her “you must approve these loans” because the broker was opening a New York office and he wanted to make sure it sent GreenPoint’s Manhattan branch …"