As the Trump administration withdraws from enforcing consumer protection and fair lending law, state attorneys general are stepping into the breach.
The Consumer Financial Protection Bureau stripped the Office of Fair Lending of its enforcement powers. John Taylor, President and CEO of the National Community Reinvestment Coalition said, “I am appalled to see one of the most effective offices within the CFPB stripped of responsibility to stop redlining, predatory lending, and other discriminatory behavior by financial firms.”
Interim Director Mick Mulvaney requested zero additional funds for the CFPB in the second quarter of fiscal year 2018.
AmericanBanker, January 17, 2018: Mulvaney launches public review of entire CFPB The CFPB said it plans to publish a series of requests for information in the Federal Register in the coming weeks asking for the public to weigh in on the agency’s enforcement, supervision, rulemaking, market monitoring and education activities. “In this New Year, and under […]
Mick Mulvaney intends to make all the drama surrounding his appointment as interim director of the Consumer Financial Protection Bureau worth it.