by Jeff Sovern
According to a report in HousingWire, a CompassPoint report concludes the following:
“Our channel checks estimate that shifting the CFPB’s governance from a directorship to a commission would double the bureau’s already elongated rulemaking timeline, cut its enforcement activity by 50% to 75%, and result in a far greater importance being placed on supervision,” Compass Point’s analysts noted.
No wonder the industry wants a commission; delays in rulemaking and substantial cuts in the enforcement actions that have already recovered more than $11 billion for more than 25 million consumers.
