Redistribution is important, but it comes too late.
As the shutdown drags on, it’s jeopardizing the welfare of those who live in HUD-subsidized housing, including low-income families and the elderly.
“We are already seeing an unusual level of discord among the regulators,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, a fair-lending advocacy group. “I think there is a significant risk that the whole effort will backfire, unless a more careful and consensus-driven approach is taken.”
The student loan ombudsman at CFPB has resigned, saying the agency’s leaders have chosen to serve powerful financial companies instead of consumers.