Consumer Financial Protection Bureau

"Balanced. " "Fair-minded. " Showing "great personal integrity. " These are some of the terms a bipartisan group of 37 state attorneys general used to describe former Ohio Attorney General Richard Cordray, President Barack Obama's nominee for director of the Consumer Financial Protection Bureau (CFPB). Add to that list "good public servant," the phrase Ohio Republican Sen. Robert Portman used to describe him just days ago. Sounds like a radical, doesn't he? If he's not, how else do we explain last week's move by 45 members of the U.S. Senate to block his appointment to that post?

An aim of the landmark credit card reform act of 2009 was to protect consumers from getting too deep into debt. One regulation that took effect in October requires that credit card issuers weigh a consumer's "independent ability to pay" — not household income — before issuing plastic. But now some members of Congress — including Rep. Carolyn Maloney, a New York Democrat who was one of the authors of the card act — want the Consumer Financial Protection Bureau to look at whether this regulation is having an unintended consequence.

Most of us don't buy cars all that often. So when we do, we can come away with that nagging feeling of not knowing whether we got a fair deal or grossly overpaid. "We don't negotiate much at all as Americans, so suddenly we find ourselves negotiating for not only a very expensive product, but a very complicated product," says Jack Gillis, author of "The Car Book. " "We are matching wits with a seasoned professional who negotiates all the time and has actually been trained in negotiating.

The new Consumer Financial Protection Bureau has been working to design mortgage documents that makes it clear to homebuyers the cost of their loan and other important details. It has posted sample documents, asking consumers to weigh in on which form is best. Now, it's working with the Department of Education to do the same on federal student loans. The CFPB posted a sample loan form , requesting comment. But that's not all. The Bureau also launched a tool to help borrowers struggling to repay loan to understand their options.

Two political leaders, an advocate for seniors and a community activist are to receive consumer-rights awards this month. The Maryland Consumer Rights Coalition said Thursday that it was naming U.S. Rep. Elijah E. Cummings the "Federal Champion of the Year. " The group cited the Baltimore Democrat's efforts to help homeowners in danger of foreclosure and his "stalwart defense" of consumer rights, including support for the fledgling Consumer Financial Protection Bureau. State Del. Sandy Rosenberg, also a Democrat from Baltimore, will receive the "Legislative Achievement of the Year" for his work getting passed into law a requirement that arbitrators disclose their record in mandatory arbitration cases.

Last week's column on a little-known state group that helps consumers with medical disputes generated emails from readers asking if organizations exist that can help them tackle other problems. Many agencies can help wronged consumers. The Federal Communications Commission, for example, mediates phone bill disputes, and the new Consumer Financial Protection Bureau wants to hear about problems with credit cards. But before you reach for outside help, take a few steps on your own. First, contact the business directly and try to resolve the problem.

Military service members are often taken advantage of by unscrupulous lenders. It's so bad, that Congress required that the new Consumer Financial Protection Bureau have a special office designed just to deal with the education and protection of service members and their families. Now the CFPB is seeking public input on products and services tailored to service members so it can use the information to design education and outreach programs for the military. This initiative is headed up by Holly Petraeus, the CFPB's Assistant Director for the Office of Servicemembers Affairs and, yes, the wife of the former general.

You and your creditor might not see eye-to-eye on your credit score. It could be that you are looking at two very different numbers. That's why Congress last year asked the new Consumer Financial Protection Bureau to issue a report on whether credit scores sold to consumers are different than the numbers sold to creditors, and whether people are hurt by this. The CFPB released an initial report last week . The agency says many consumers are still confused about scores.

The Baltimore Sun highlighted a significant issue involving the use of the courts by debt buyers to recover consumer debt they have purchased ("A push for more proof in debt-collection lawsuits," July 25). As the leading voice for credit and debt collection professionals, we want Marylanders to know that ACA International and its affiliate Mid-Atlantic Collectors Association are advocating for reforms to ensure both proper debt documentation and responsible litigation in the collection of consumer debts.

A liberal political group is pushing Elizabeth Warren candidacy for the Senate now that President Obama has decided not to name her to lead the new Consumer Financial Protection Bureau. Warren dreamed up the idea of the new agency, but Republicans in Congress vehemently oppose her and the bureau. Progressive Change Campaign Committee has been trying to get signatures and donations for the Harvard law professor's potential race to represent Massachusetts in the U.S. Senate. The “Draft Elizabeth Warren” campaign has so far raised $45,300 and collected 25,548 signatures.