Scott Turner, nominee for secretary of the Department of Housing and Urban Development, told senators during his confirmation hearing that Congress holds the purse strings.
Regulators in some states controlled by Democrats are poised to increase their oversight of consumer protection laws as the CFPB’s focus is expected to shift under the incoming Trump administration.
The bureau’s fall regulatory agenda listed December as the date for issuing three final rules among several other items. None of the items has been issued so far.
The next step to revise capital requirements for large banks is undetermined, two mortgage efforts at the CFPB will fall to a Republican appointee and FHFA’s planned reforms for the FHLBanks face uncertainty.
Some former federal officials who spoke this week at a policy conference said the Trump administration might roll back, or at least revisit, recent housing regulations that touch on climate change.
Industry stakeholders have largely applauded the nomination of Scott Turner as secretary of the Department of Housing and Urban Development, citing his experience and leadership.