If you want to learn what the CFPB would look like if republican plans to defang it were enacted, law prof Chris Peterson has done a study for you: Choosing Corporations Over Consumers: The Financial Choice Act of 2017 and the CFPB. Here is the abstract: The Consumer Financial Protection Bureau (CFPB) is the U.S. Government’s […]
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The Washington Post's personal finance columnist Michelle Singletary weighs in on the controversy over leadership of the Consumer Financial Protection Bureau, here.
This article by C. Ryan Barber says that U.S. Justice Department lawyers convinced [U.S. district judge Timothy] Kelly that the Federal Vacancies Reform Act should control the outcome of the leadership dispute. That law gives the president wide authority to install Senate-confirmed acting heads at executive agencies. Kelly said the text of the vacancies law applies […]
That's the topic of this split decision today from the Sixth Circuit.
Lots of stories and legal analysis today about the dispute over whether the President can name an acting director of the Consumer Financial Protection Bureau or whether the deputy director, by statute, has become the acting director. And Reuter's reports that the President's pick, OMB Director Mick Mulvaney, has instructed staff to disregard any directions […]
by Paul Alan Levy Last spring, Twitter received a fair amount of attention for fighting a patently bogus attempt by the Department of Homeland Security to abuse its statutory authority to investigate the importation of goods as the basis for to issuing an administrative summons seeking to identify the owners of a Twitter account hostile […]
The major tobacco companies will soon "launch a court-ordered national advertising campaign to end a massive fraud and racketeering case that the federal government brought against the industry nearly two decades ago. The campaign will run on TV, in newspapers, online and on cigarette packaging," the online news outlet FairWarning reports. The ads will be […]
An article in Politico reviews the Consumer Financial Protection Bureau’s work on a range of on a wide range of issues relating to student loans and for-profit colleges, and discusses how the Trump Administration might undo that work. Read "What's next for the CFPB's work on higher education issues" here.
Here, in the Times, by Ben Protess and Jessica Silver-Greenberg. Excerpt: After the financial crisis in 2008, the Obama administration turned one of the banking industry’s friendliest regulators into one of its toughest. But that agency is now starting to look like its old self — and becoming a vital player in the Trump administration’s […]
The Hill has a story here. Excerpt: Otting was the president and CEO of OneWest Bank, where he worked with Treasury Secretary Steven Mnuchin, and a vice chairman at U.S. Bancorp before that. He presided over hundreds of thousands of foreclosures at OneWest Bank, which has been investigated for multiple federal and state housing violations. * […]