The CFPB’s leadership ‘brain drain” seems to be continuing, with Politico reporting that Richard Hackett, the Bureau’s Assistant Director for installment and liquidity lending markets, is planning to leave the CFPB later this summer.  Just two weeks ago, we reported about the departures of three top CFPB officials to join the firm founded by former CFPB Deputy Director Raj Date. … Continue Reading

At the ABA Consumer Financial Services Committee meeting earlier this week, Rick Hackett, Assistant Director of the Research, Markets and Regulations Division of the CFPB, spoke about “Discretionary Pricing in Indirect Auto Finance.” Rick made it very clear that the CFPB is sticking to its position that the disparate impact theory applies under the Equal Credit Opportunity Act.… Continue Reading