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Volume 29 - Number 10

May 14, 2018

Mulvaney Makes Major Changes To Student Protection Unit

Acting CFPB Director Mick Mulvaney announced last week that he plans to restructure an office that aims to help student loan borrowers. Many consumer advocates worried that the change will strip the office of all functions except for consumer education. In a memo obtained by Inside the CFPB, Mulvaney announced to all staffers that the Office of Students and Young Consumers will be folded into the Office of Financial Education. Both offices are part of the bureau’s Consumer Education ...

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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%