Obama Nominates Consumer Financial Protection Bureau Director, Richard Cordray

Cordray previously served as the CFPB's Director of Enforcement

Today, President Obama formally announced his nomination of Richard Cordray as the first Director of the Consumer Financial Protection Bureau (CFPB).

Cordray’s nomination comes as a surprise for those expecting Elizabeth Warren, the acting director of the agency and special adviser to President Obama, to officially take on the position. Warren, however, has attracted much Republican criticism for her strong consumer activist opinions, and her nomination would likely have met controversy. Cordray, on the other hand, as Ohio Attorney General and current CFPB Director of Enforcement, is lesser known and less controversial.

Treasury Dept. Announces Pilot Program on EITC Eligibility

Pilot program will seek to identify ineligible EITC claimants and eligible individuals who do not claim the EITC through state data.

Treasury Dept. Announces Elimination of Paper Bonds – Action Needed!

Joanna Smith-Ramani is the Director of Strategy for the Doorways to Dreams Fund

While the tax time savings bond program is safe, your help is needed to ensure our clients are being served!

This week the Treasury Department officially announced that they are eliminating the paper savings bond program (the over the counter program) as of January 1, 2012. Some good news (and a result of our shared effort) – the tax time program will still continue – tax filers will still be able to split their refund into Series I paper bonds. Tax time will be the only time that Americans can purchase paper savings bonds.