Senate Democrats during a hearing last week questioned CFPB Director Kathy Kraninger on the bureau’s plans to help out borrowers impacted by the coronavirus.
The CFPB seeks legislation to establish a reward program for whistleblowers, who could be tipped up to $10 million for providing original information that leads to a successful enforcement action.
Low staff levels make it difficult for the CFPB to conduct follow-up monitoring of previous enforcement actions, according to the bureau’s Office of Inspector General.
The Sword of Damocles hung over his head during his last year at the helm of the bureau, former CFPB Director Richard Cordray disclosed in his new book.
Straight talk from Impac CEO George Mangiaracina: “These are extraordinary times with unprecedented interest rate shocks and global market dislocation so any enthusiasm for future prospects should be properly balanced and tempered by potential supply and distribution constraints..."
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