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Volume 2018 - Number 21

May 31, 2018

CFPB Is Paying More Attention to Limits of Its Power, Wants to Encourage Financial Innovation

The interim chief of the Consumer Financial Protection Bureau said at an industry meeting in Washington, DC, this week that he is paying close attention to what the agency cannot do.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%