The House Rules Committee voted to permit House consideration last night. The Hill story is here. Excerpt: The House Rules Committee on Tuesday night cleared for a vote on the House floor a Republican effort to strip much of the Dodd-Frank Act. The powerful panel — the last stop for every bill considered by the […]
Category Archives: Consumer Financial Protection Bureau
Here, in The Hill. Quick served as senior counsel to the Senate Banking Committee and senior attorney for OCC. Excerpt: Trump is well on his way to effecting change in financial regulation through his appointments, and Congress appears poised to stall new financial regulation through changes to the rulemaking process, most significantly through the Regulatory Accountability […]
On Tuesday at 5:00 pm, the House Rules Committee will hold a hearing on the Financial Choice Act, presumably to grant a rule for full House consideration later in the week. The Committee Report accompanying the bill is linked to here.
Here. Excerpt on the CFPB's proposed arbitration reg: [Ballard Spahr's] Alan S. Kaplinsky told Bloomberg BNA that “it would be bordering on reckless” for CFPB Director Richard Cordray to finalize the rule because of the risk it will be overturned under the [Congressional Review Act].* * * Congressional Republicans will be in lock step against […]
The Consumer Bankers Association has been touting a poll it commissioned from Morning Consult finding, as the CBA headline put it: Most Votes in Key Battleground States Support Structural Reforms to CFPB. Or, to put it another way, most voters when asked if they prefer a single director or a bipartisan commission, prefer the bipartisan […]
Here. Excerpt: Wells Fargo’s opening of millions of phony accounts using the names of its customers was perhaps the most significant bank scandal to come to light since the financial crisis. But Hensarling’s Financial Choice Act, which passed the House Financial Services Committee, would have weakened federal regulators’ ability to publicize the scandal and punish […]
Over at PropertyProf Blog.
Here. The whole article is worth reading, but here's an excerpt: Buried deep in President Donald Trump’s 2018 budget request to Congress—specifically, on page 158 out of 159 pages in the supplemental "Major Savings and Reforms" document—is a section headed “Restructure the Consumer Financial Protection Bureau.” It appears to be yet another Republican shot across […]
by Jeff Sovern We posted the first part of California-Irvine professor Leah Litman's take on the PHH case last week. Here is part two. Professor Litman offers a perspective on Humphrey's Exec, the Supreme Court case that held an independent agency–there, it was the Federal Trade Commission–was constitutional. I have wondered for some time how the […]