Democratic Senator: Is it raining? Witness: That’s really up to Congress to determine but if confirmed, I will follow the statutory mandate. Democratic Senator: What do you think of rain? Witness: Well, senator, let me say this: if it’s raining, I will follow the law. Democratic Senator: Wells Fargo has opened unauthorized accounts, improperly repossessed […]
Under questioning by Senator Warnock.
CNBC’s Hugh Son has the story here.
Here’s CFPB director-nominee’s short written opening statement for his confirmation hearing. Here’s the part about the CFPB and his promises: All too often, however, the CFPB has gotten in the way of its own mission. It has acted in a politicized manner. It has pushed beyond the limits of its statutory authority. It has seized […]
From Ballard Spahr. More information and registration available here.
Bahnsen discusses the dismissal in his National Review podcast episode, Good Things and Bad Examples. He criticizes SoLo as a bad actor. We had reported on the dismissal here. The Bureau has now removed from its website the statements it had made about the case, some of which we quoted in our earlier post.
Avy Mallik, General Counsel of California’s Department of Financial Protection and Innovation will appear on a Ballard Spahr webinar on March 11 at 2 p.m. Eastern to discuss consumer protection. Register here.
To read and join the letter, go to Sign-on Letter – Law Professors re: CFPB
American Banker’s Kate Berry reports Justice Dept. insists ‘there will continue to be a CFPB’. The story dives into DOJ’s brief. Berry notes that the brief claims that the administration closed the Bureau’s Washington DC office because of employees protesting outside. Berry also observes that the closing preceded the protests. Haven’t they ever heard of Rule […]
Here. Look up your state and see how many complaints consumers have filed and what the results were!