November 16, 2017
Thank You, Director Cordray
Richard Cordray has announced that he will be stepping down as Director of the Consumer Financial Protection Bureau. He has been a lightning rod for critics of the Bureau. Those of us who believe that predatory behavior was endemic in … Continue reading
November 16, 2017 in CFPB | Permalink | No Comments
October 31, 2017
Relegating Consumer Protection To The Shadows
The Department of the Treasury released its report on Asset Management and Insurance, which follows on the heels of its report on the capital markets. The latest report calls for replacing the term “shadow banking” with “market based finance.” (63) The … Continue reading
October 31, 2017 in CFPB | Permalink | No Comments
October 24, 2017
Arbitration Rule Hit Job
The department of the Treasury issued a report, Limiting Consumer Choice, Expanding Costly Litigation: An Analysis of the CFPB Arbitration Rule. The report is a hit job on the Consumer Financial Protection Bureau’s new Arbitration Rule. The Arbitration Rule prohibits … Continue reading
October 24, 2017 in CFPB | Permalink | No Comments
October 5, 2017
Evolution of the CFPB?
The Mortgage Bankers Association has issued a white paper, CFPB 2.0: Advancing Consumer Protection. The Executive Summary reads, in part, In its first years, the Bureau’s regulatory expertise was largely consumed by the need to meet deadlines on specific rules … Continue reading
October 5, 2017 in CFPB | Permalink | No Comments
September 26, 2017
Safeguarding The CFPB’s Arbitration Rule
I was one of the many signatories of this letter to Senators Crapo (R-ID) and Brown (D-OH) opposing H.R. Res. 111/S.J. Res. 47, “which would block the Consumer Financial Protection Bureau’s new forced arbitration rule.” the 423 signatories all agree … Continue reading
September 26, 2017 in CFPB | Permalink | No Comments
July 7, 2017
Holding Servicers Accountable
I submitted my comment to the Consumer Financial Protection Bureau regarding the 2013 RESPA Servicing Rule Assessment. It reads, substantively, as follows: The Consumer Financial Protection Bureau issued a Request for Information Regarding 2013 Real Estate Settlement Procedures Act Servicing Rule … Continue reading
July 7, 2017 in CFPB | Permalink | No Comments
July 6, 2017
The CFPB Makes Its Case
The Consumer Financial Protection Bureau released its Semi-Annual Report. Given that the Bureau is under attack by Republicans in Congress and in the Trump Administration, one can read this as a defense (a strong defense, I might editorialize) for the … Continue reading
July 6, 2017 in CFPB | Permalink | No Comments
