April 4, 2017
Tuesday’s Regulatory & Legislative Roundup
- After studying the housing crisis of the early 2000’s, Congress created the Consumer Finance Protection Bureau to protect U.S. citizens from poor and damaging practices of the American financial institutions. In early 2017, the Trump Administration questioned the constitutionality of the bureau and is seeking to shift some of its practices at the very least. As a result, the Democrats of Congress have rallied together to save the federal agency.
- A Michigan pastor is under investigation by the Securities and Exchange Commission (SEC). The federal agency alleges the pastor created a real estate scheme to garner over 6 million dollars fraudulently. The pastor is accused of targeting Michigan’s most exposed citizens such as retirees and laid off auto-workers.