In a significant procedural development in the ongoing litigation over the future of the Consumer Financial Protection Bureau (“CFPB”), the en banc U.S. Court of Appeals for the District of Columbia Circuit has issued an order granting a limited remand to the district court in National Treasury Employees Union v. Vought, while denying the CFPB’s request to immediately modify the stay pending appeal.… Continue Reading
CFPB People
Trade Groups Support Confirmation of Kraninger as CFPB Director
By Richard J. Andreano, Jr. on
A number of housing and financial industry trade groups, including the Mortgage Bankers Association and Real Estate Services Providers Council, Inc. (RESPRO®), recently sent a letter to Senators Mitch McConnell (R-KY) and Charles E. Schumer (D-NY) supporting the confirmation of Kathleen Kraninger as CFPB Director.
The trade groups state that Ms.… Continue Reading
Regulation by Enforcement is Dead
By Richard J. Andreano, Jr. on
Addressing the Mortgage Bankers Association (MBA) 2018 Annual Convention in Washington, DC on October 15, 2018, BCFP Acting Director Mick Mulvaney advised that regulation by enforcement is dead, and that he does not care much for regulation by guidance either. He noted to the members that they have a right to know what the law is.… Continue Reading