In this week’s podcast, Ballard Spahr partners Alan Kaplinsky and Chris Willis examine how the CFPB has changed under the leadership of Acting Director Mick Mulvaney and their expectations for future developments.
Alan and Chris discuss the practical impact of Mr. Mulvaney’s leadership on the CFPB’s day-to-day operations in the areas of supervision and enforcement, particularly with regard to how the CFPB’s public statements line up with its actual practices. With regard to supervision and examinations, they highlight the Bureau’s current approach to UDAAP violations and military lending.
In the area of enforcement, Alan and Chris discuss the volume and nature of the Bureau’s current enforcement activity. They also report on the status of the Bureau’s rulemaking initiatives and share their expectations for rulemaking under new leadership, including with regard to the Bureau’s payday lending rule and a debt collection rule. They conclude the podcast by sharing their observations on the current compliance environment and its impact on decision-making by consumer financial services providers.
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