Posts Tagged ‘Consumer Protection Act’

Report: What’s the Most Partisan Federal Agency?

November 28th, 2016 Comments off

Credits: CFPB, Wikipedia, Free Icons Download.

The Consumer Financial Protection Bureau (CFPB) has been deep in the crosshairs of various groups, including industry associations, members of Congress and most recently the incoming Donald J. Trump Administration.

With recent findings, the scrutiny continues to gain legs.

According to campaign finance data obtained by the Washington Free Beacon, employees at the CFPB, which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, contributed nearly $50,000 during the 2016 campaign, with all of that money going to Hillary Clinton or Senator Bernie Sanders (I., VT).

Agency employees made more than 300 donations during the campaign. Not one went to a Republican candidate.


Sean Duffy. Credit: InsideGov.

CFPB employees fell over each other to give money to Hillary because she supported CFPB’s desire to remain in the shadows and unaccountable to the American people,” Representative Sean Duffy (R., Wis.), a frequent critic of the agency.

No one is shocked that Washington bureaucrats would donate to the candidate who promised to maintain and expand onerous Dodd-Frank regulations that crush our community banks and local credit unions.


Elizabeth Warren. Credit: AP.

Republicans have tried to reduce the scope of the bureau’s broad regulatory power since Senator Elizabeth Warren (D., Mass.), oversaw its creation.

In addition to the CFPB, the Peace Corps and the National Transportation Safety Board (NTSB) also saw all political contributions go to the Democratic Party or allied groups, though one of those agencies’ donations came from just one employee.

Peace Corps is a nonpolitical federal agency,” said a Peace Corps spokesperson. “Like all federal employees, Peace Corps employees must adhere to restrictions on political engagement established by the Hatch Act, which does not prohibit political contributions made on personal time.

The agency does not track the private contributions of its employees or Presidentially appointed-Senate confirmed board members,” said a spokesperson for the NTSB. “The NTSB follows the provisions of the Hatch Act which is enforced by the U.S. Office of the Special Counsel.


As Daily Business News readers are aware, we have followed the recent developments around the CFPB closely, including testimony from former Wells Fargo CEO John Stumpf in a hearing on Capitol Hill and a Washington D.C. Circuit Court ruling that the agency was unconstitutional. 

MHProNews has underscored the revisionist history some are seeking to apply to the causes of the 2008 financial meltdown, that lead to the passage of Dodd-Frank; spotlighted in the video below.

Dodd_Frank___bloombergbusinessweek___credit postedDailyBusinessNewsMHProNews

Credit: Bloomberg.

The impacts from the Dodd-Frank act and the CFPB are wide ranging for the manufactured housing industry, including the question of whether or not Dodd-Frank has created a renter’s nation and the call for media to revisit Dodd-Frank reporting in light of congressional testimony from CFPB Director Richard Cordray. ##



(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Toolkit from Consumer Financial Protection Bureau to Aid Homebuyers

April 15th, 2015 Comments off

cfpb_credit_cfpbCalling it the “Know Before You Owe” mortgage initiative, the Consumer Financial Protection Bureau (CFPB) has updated the Department of Housing and Urban Development’s (HUD) guide to shopping for a mortgage and buying a house, which was originally called “Shopping for Your Home Loan: Settlement Costs Booklet.”

The new Toolkit, as consumerfinancialserviceslawmonitor tells MHProNews, is to help educate consumers concerning the new Loan Estimate and Closing Disclosure forms that lenders will be required to provide to mortgage applicants beginning Aug. 1, 2015. It is suggested real estate professionals provide it to prospective homebuyers as well. The Toolkit represents fall out under the Truth in Lending Act (TLA) and the Real Estate Settlement Procedures Act (RESPA) as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act. ##

(Image credit: Consumer Financial Protection Bureau)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

Allegations of Flooded, Fixed, Flipped ‘Mobile Homes’ hit state, international news

August 29th, 2014 Comments off

9wants-to-know-still=credit-posed-daily-business-news-mhpronews-com-The City of Federal Heights is changing building inspection rules in response to a televised investigation in a manufactured home community by 9Wants to Know, exposing safety concerns when flooded “mobile homes are resold to unsuspecting families,” NassauNewsLives tells MHProNews.

Hundreds of flood damaged homes were sold rather than scraped. Those damaged units were fixed in a fashion the media says covered up problems, rather than repairing and replacing building materials subject to mold, electrical or other safety and health concerns.

It [the flood] took the mobile homes off the cement blocks and twisted and turned them sideways, and when that happens, the structural integrity of the home is damaged beyond repair,” said Evans Economic Development Director Sheryl Trent. “In every case, we found it was not safe to occupy.”

Colorado law doesn’t prevent investors from buying condemned manufactured or mobile homes and reselling, so long as the home condition is properly disclosed. Pat Coyle, director of the Colorado Division of Housing said failure to disclose a previously flooded condition is fraud.


Coyle sent a letter to all manufactured housing installers – as well as to municipal and county building inspectors – warning that it’s considered fraud and a violation of the Consumer Protection Act if a seller “knowingly fails to identify” the facts about a flood damaged home. 

A Plug in may be needed on your computer to see this video.

The management company that owns the community where this practice has allegedly been taking place is Utah-based, and has some 40 other MHCs they operate.  NassauNewsLive states the management firm didn’t return calls. ##

(Editor’s Note 1: This is an example of a recent Masthead commentary on the high cost to the industry’s image such incidents represents, see: MHDeath and Disaster, the Other Image Campaign In the case of the story above, the media is urging those allegedly victimized to contact the state attorney general.  The legal costs alone could outweigh any short term profits, not to mention the economic damage to a firm’s or the industry’s reputation.)

(Editors’ Note2: Both of the news agencies in the report above used improper industry terminology, which is why MHProNews  developed this fact sheet for reporters in our media center. Industry professionals are advised to send a link to this page every time a news agency uses the wrong terminology.)

(Still images and video credits: 9Wants to Know)

Maryland Modular Builder Charged with Fraud

November 27th, 2013 Comments off

Modular home builder Fusion Modular Green Construction LLC of Maryland allegedly accepted payments and deposits from customers and then did not fulfill contracts, and was unwilling to refund deposits. State Attorney General Douglas F. Gansler announced the company and its owners, Joshua Samuel Sims and William E. Sims III, are charged with failing to comply with Maryland’s Home Builder Registration Act, Consumer Protection Act, and Custom Home Protection Act. According to, the Sims’ allegedly did not complete homes or pay subcontractors, and neglected to notify the state when lawsuits were filed against them by subcontractors in Anne Arundel and Montgomery Counties. MHProNews has learned a hearing on the charges is set for Jan. 24, 2014, as the state seeks restitution, damages and civil penalties.

(Photo credit: Modular Homes of Delaware)

Manufactured Housing Institute Issues Action Alert

May 3rd, 2013 Comments off

The Manufactured Housing Institute (MHI) has sent an urgent action alert to members of the manufactured housing industry to contact their Congressional representative and ask for their co-sponsorship and support of H.R. 1779, the Preserving Access to Manufactured Housing Act. The bi-partisan measure would amend provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, scheduled to take effect January, 2014, that will limit the availability of credit for buyers of manufactured homes. MHProNews has posted the alert from MHI and a sample fax to send to your Congressional representative. For this and other supportive information, please click here.

(Image credit: Manufactured Housing Institute)

Residents Seek State Protection from Landlord

March 27th, 2013 Comments off

According to lehighvalleylive residents of Greenbriar Valley manufactured housing community (MHC) in east-central Penn. allege owner Equity LifeStyle Properties, Inc. (ELS) is unjustly raising their rents and they are seeking protection, as they approach April 18 when rents for the 319 site community will rise again. One residents says his site rent has increased from $374 to $539 a month in ten years. At a Greenbriar homeowners association meeting State Rep. Robert Freeman says he sponsored legislation last year that gives manufactured home owners more rights if their community is sold, and will work with residents to seek more protection. He favors rents being tied to the consumer price index and intends to meet with the attorney general regarding protection for homeowners under the state’s Consumer Protection Act. As MHProNews knows, ELS is the largest owner of MHCs in North America with some 380 communities comprised of over 141,000 homesites.

(Photo credit: Bill Wechter/nctimes)

AG gets injunction against manufactured home community owner

September 12th, 2011 2 comments

G:\MH\Daily Business News\Massachusetts_Attorney_General_Martha_Coakley_Wikimedia_Commons.pngLegalNewsline reports an update on a story previously covered by, that  Massachusetts Attorney General Martha Coakley announced she had obtained a preliminary injunction prohibiting the owners of a manufactured housing community from continuing alleged intimidating sales tactics. Morgan RV Resorts LLC and its sales team allegedly used intimidating tactics to charge homeowners excessive fees for a questionable membership club in order to stay in their homes at the Peters Pond housing community. Suffolk Superior Court Judge Paul E. Troy found that the state’s allegations that the defendants violated the Consumer Protection Act held merit and granted the preliminary injunction. Last month, Coakley filed an enforcement action against Morgan and its sales team for allegedly violating the Massachusetts Manufactured Housing Act and the Consumer Protection Act.

(Editor’s Note: Your link to the previous story for added details is here.)

(Stock photo credit: Wikimedia Commons)

Massachusetts AG sues manufactured home community owner

August 25th, 2011 3 comments

Martha_Coakley_MA_AG_wikimedia_commonsSaratogan reports Massachusetts Attorney General Martha Coakley is suing the owners of Saratoga Springs NY based Morgan RV Resorts, alleging the company is intimidating members to collect exorbitant fees in their Cape Cod manufactured housing community. According to Coakley’s press release, the company’s sales team “aggressively solicited homeowners at Peters Pond to pay up to $16,000 as a membership fee to remain in the community.” The fee was allegedly on top of the $6,000 annual fee owners paid for their land lease at the Sandwich, Mass., housing community. AG Coakley’s lawsuit seeks to end the collection and also return the fees already paid by residents. Coakley alleges the practices are a violation of the Consumer Protection Act and the Manufactured Housing Act. According to the lawsuit, nearly 100 homeowners have paid to join the club out of fear that they would lose their home. Morgans RV Resorts officials did not respond to a message seeking comment by the reporting publiser’s press time.

(Coakley file photo credit: Wikimedia Commons)