by Jeff Sovern The article is called The Quiet GOP Campaign Against Government Regulation. The whole piece is worth reading, but here's an excerpt: The shorter and easier-to-read of the two bills is called the “Regulations from the Executive in Need of Scrutiny Act of 2017,” or REINS Act, which passed the House in early […]
Author Archives: Jeff Sovern
by Jeff Sovern Here, in Morning Money. Excerpt: THE POLITICS of firing Cordray would be tough for Trump. He could argue that the CFPB is an unaccountable agency lead by a too-powerful single director. Banking groups, especially those representing smaller and midsize institutions, would be would be thrilled. But the CFPB polls pretty highly and […]
Here, in The Intercept. Excerpt: “Did OneWest ‘robo-sign’ documents relating to foreclosures and evictions?” Sen. Bob Casey, D-Penn., asked [Treasury Secretary Nominee Steven] Mnuchin as a “question for the record”. Mnuchin replied that “OneWest Bank did not ‘robo-sign’ documents * * * [Dayan reports on] a 2011 consent order issued by the federal Office of […]
A statement appears on the FTC website here.
Here. Excerpt: Cordray, who has helmed the CFPB as its first and only director, said Tuesday that he has no intention of stepping down early, despite pressure from Republicans eager to overhaul the 5-year-old agency. “It really shouldn’t change the job at all,” said Cordray of Trump assuming power. “We have an independent mandate to […]
Here is a report from the N.J.L.J. Excerpt: The New Jersey Assembly has passed legislation that prohibits companies from inserting language in consumer contracts that requires arbitration of disputes in forums outside of the state. The Assembly, on Monday, approved the bill, A1515, in a 49-20 vote. The vote was split along party lines, with […]
Here. The motion to intervene in the PHH case is here.
by Jeff Sovern Here, in the American Banker (free content). Cuccinellis is general counsel to the FreedomWorks Regulatory Action Center, and former AG for Virginia. Excerpt: Rather than tinkering with this regulatory monstrosity, let’s pursue a simpler course: simply eliminate the standalone agency. Most of the regulatory powers that the CFPB now wields were previously […]
Here. Pai, a Republican, has been critical of FCC interpretations of the TCPA (see here and here). Here's the perspective of ACA International, an industry organization : Of particular importance to the credit and collection industry, Pai has fiercely objected to the FCC’s more recent interpretations of the TCPA spearheaded by Wheeler. Authoring a hard-hitting […]
So reports Law360's Evan Weinberger on Twitter here.