CFPB – “Regulation by Enforcement,” or Enterprise as Regular?

Posted To: MND NewsWire

The Buyer Economic Security Agency (CFPB) does not present steering to the fiscal establishments it regulates. In its place it has advanced into a regime of “regulation by enforcement.” At least that is the summary of a white paper published for the House loan Bankers Association by its counsel at the legislation organization of Covington & Burling, LLP. The paper, titled CFPB 2.: Advancing Buyer Security, seems at the overall performance of the company throughout its to start with five yrs and usually takes a notably jaundiced look at of Director Richard Cordray’s promises for the company compared to its perceived overall performance. “The CFPB has performed well where by it really is developed regulations that emphasis on the worst excesses of the pre-crisis market place,” mentioned David H. Stevens, President and CEO of MBA. “Having said that, the Bureau has far too-normally opted for…(read through more)

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