From Bloomberg Law‘s Evan Weinberger. The question might not be what the OCC plans but what the Trump administration writ large plans.
Author Archives: Jeff Sovern
WaPo’s Liz Goodwin has the story at Warren: Musk should have the courage to defend gutting of consumer agency (behind paywall). Also invited to testify: “Massachusetts Attorney General Andrea Campbell and Lorelei Salas, the former head of supervision at the CFPB who recently resigned after refusing an order to stop work at the agency.”
So Politico reports here. Evidently reducing government waste requires hiring new CPB employees while telling existing CFPB employees not to work.
The Banking with Interest podcast just released an episode titled “What the Hell is Going On? A Banker’s Guide to D.C.” with guests Victoria Guida of Politico and Brendan Pedersen of Punchbowl News. And the Ballard Spahr informative series of webinars on the election’s effect on the CFPB continues next month with an interview with […]
In the American Banker (behind paywall but available on Lexis). Much of the article is about how the stoppage prevents CFPB scrutiny of X’s new payment function, and how Musk may also benefit from obtaining confidential information the CFPB has on competitors.
Bloomberg Law’s Evan Weinberger reports: The Trump administration appears to be preparing to transfer employees from the Federal Deposit Insurance Corp. and the Consumer Financial Protection Bureau to the Office of the Comptroller of the Currency as part of a broad reshaping of bank supervision. The OCC has created email distribution lists for FDICTransferees@occ.treas.gov, CFPBTransferees@occ.treas.gov, […]
CFPB Shutdown: Welcome to the Wild West of Consumer Finance by Jimmy Wyderko and Kainoa Lowman at the Economic Populist (hat tip: Larry Kirsch).
The American Banker’s Kate Berry has the story in Trump DOJ lawyer Jeffrey Clark joins the CFPB (behind paywall but available on Lexis). She reports that five others have also joined the Bureau. The hires all appear to be rooted in politics.
Here (behind paywall). The article describes how landlords hire debt collectors solely to report the purported debts and force tenants to pay. Because landlords won’t rent to people with such debts on their credit reports, according to the article, the strategy puts pressure on the consumer to pay whether the debt is in fact owed […]