Author Archives: Jeff Sovern

Here in the American Banker (behind paywall but available on Lexis). I found this an informative description of yesterday’s hearing.

That’s a question I would like more clarity on. According to Bloomberg Law’s Even Weinberger, the hearing will resume Tuesday afternoon. Politico Pro’s Katy O’Donnell has a story, ‘Shoot first and ask questions later?: Court examines tumult at CFPB, (behind paywall) which makes it sound as if Judge Jackson is skeptical of the Trump administration’s claims.

Here. Not all American billionaires want to destroy the CFPB.

You know how Musk uses a chainsaw? Well, another regulator who used a chainsaw was James Gilleran of the Office of Thrift Supervision, in 2003. And if you don’t know about the Office of Thrift Supervision, that might be because it doesn’t exist anymore. See this NPR story, which includes a picture of Gilleran and […]

Here, at Bloomberg Law, and outside of paywall. It turns out that the Trump administration cancelled a contract pretty much required to make the statutorily-mandated complaint database work. Another cancelled contract interfered with making payments under the Civil Penalty Fund. And of course the employees on administrative leave haven’t been working.

Here. The reporting is based on emails DOJ released.

Here, in the American Banker. Excerpt: Supervisory examiners and managers, who spoke anonymously for fear of retaliation, told American Banker that credit limits on the CFPB’s SP3 travel cards had been cut to $1 or the accounts were closed, making it impossible to book a flight or hotel to travel. * * * * * […]

Here are his answers to Senator Warren’s questions. In answer to a question about whether he agreed with the president, McKernan said only ” The CFPB’s existence will continue until an Act of Congress, signed by the President, provides otherwise.”

Here.