Here, in Bloomberg Law. Weinberger writes: That Vought is telling CFPB employees to come collect their personal belongings is a sign that he’s confident the US Court of Appeals for the District of Columbia Circuit will overturn a lower court ruling that blocked an attempt to fire nearly 1,500 members of the approximately 1,700 people who worked […]
Category Archives: Consumer Financial Protection Bureau
In his Bloomberg Law article, Trump’s Eventual CFPB Pick Will Work in White House’s Shadow, Evan Weinberger reports that “Mark Calabria, an Office of Management and Budget official currently detailed to the CFPB and former director of the Federal Housing Finance Agency, and acting Comptroller of the Currency Rodney Hood” are under consideration. But Weinberger also […]
Here. Finally the NYT runs an op-ed about the CFPB! And it’s a good one. Here are the first two paragraphs: The Consumer Financial Protection Bureau is turning into the Corporate Financial Protection Bureau. President Trump’s C.F.P.B. has not only ceased to pursue its mandate; it has taken the unprecedented step of unwinding prior victories […]
Here, at Penn’s Regulatory Review. The entire piece merits reading, and is short, but here’s my favorite paragraph: The primary reason the CFPB gave for pulling the guidance documents back is its “current policy to avoid issuing guidance except where necessary and where compliance burdens would be reduced rather than increased.” In a very real sense, this […]
Here, in Law360. Judges Rao and Katsas, both Trump appointees, expressed concerns about whether the administration had taken final action, required for court review under § 704 of the APA, and what an injunction requiring the Bureau to fulfill its statutory mandate would look like. The third judge, Judge Pillard, an Obama appointee, seemed less […]
That’s the lesson from NCLC lawyer Lauren Saunders’s essay, A $1,000 Taxi? That’s What Consumer Protections Are For at OtherWords.org. Here’s a striking paragraph: I’m a consumer lawyer. I know that federal law requires the bank to investigate disputes about incorrect charges and to correct errors. I even wrote a long letter full of legalese and got my […]
Here in the American Banker (behind a paywall but should be available on Lexis). The article includes some troubling observations, including that despite a Paoletta memo claiming that the Bureau under Trump will focus on consumer fraud, the dismissed cases include at least one case involving deceptive marketing. The article does mention some cases that […]
Here. They will instead nominate McKernan for a position in Treasury.
From a piece I wrote (behind paywall but probably available soon on Lexis): Have you heard about the government agency led by a guy holding a chainsaw as he promises dramatic cuts in regulation? Think it’s a story about Elon Musk and the Department of Government Efficiency? It’s also about James Gilleran, leader of the […]
Charlotte Haendler of Southern Methodist University (SMU) – SMU Cox School of Business and Rawley Heimer of Arizona State University (ASU) – W.P. Carey School of Business have written The Hidden Costs of Financial Services: Consumer Complaints and Financial Restitution. Here’s the abstract: Financial disputes are a widespread but understudied feature of consumer financial markets. Using […]