The CFPB is seeking an assistant director to head the office of cost-benefit analysis, indicating that the agency going forward would focus on the economic implication of its activities.
Since taking the reins of the CFPB last year, Acting Director Mick Mulvaney has changed its course. In a recent speech, the agency’s second in command, Acting Deputy Director Brian Johnson, explained how the current leadership defines consumer protection and principles behind its actions.
Sen. Sherrod Brown, D-OH, recently released a staff report accusing Acting CFPB Director Mick Mulvaney of undermining the agency’s mission to protect American consumers.
State regulators will likely put more effort into enforcing fair lending laws, even as the CFPB continues to reassess the use of the disparate-impact theory under the Equal Credit Opportunity Act.
Fannie and Freddie addressed that problem by beginning to structure CAS and STACR transactions as real estate mortgage investment conduits – which REITs can buy more freely.
Law firm Rosicki, Rosicki & Associates, along with two affiliates, has agreed to settle a civil lawsuit alleging the companies systematically defrauded Fannie Mae and the Veterans Administration by routinely overcharging them and submitting false bills for foreclosure and eviction-related expenses.
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