Confused about which regulator will enforce consumer compliance at your bank after a merger or acquisition? Well, don’t be.
Consumer groups are adding more to their Consumer Financial Protection Bureau wish list.
Given that only a basic CFPB organizational chart – without names – exists on the agency’s web site, CFPB Journal did some digging to offer a more thorough look at the other leaders and staff members who will shape the bureau going forward.
Skip Humphrey, the head of the Office for Older Americans at the Consumer Financial Protection Bureau, described his approach to fighting growing abuses against senior citizens in his Nov. 15 testimony before the Senate Subcommittee on Financial Institutions and Consumer Protection.
First, there was the new mortgage disclosure form. Next came the student loan “shopping form.”
The Consumer Financial Protection Bureau will have a significant financial education component, in addition to its supervisory and enforcement responsibilities, said Barton Shapiro, senior advisor for community banks and credit unions with the CFPB. Barton spoke to bankers Nov. 3 gathered in Lincoln, Neb., for the annual meeting of the Nebraska Independent Community Bankers.
A House Financial Services subcommittee field hearing held Oct. 31 in Wausau, Wis. – home to Rep. Sean Duffy (R-Wis.) – gave community bankers the chance to express their views on the Consumer Financial Protection Bureau.
The Obama administration is turning on the pressure to get Rich Cordray confirmed as director of the Consumer Financial Protection Bureau.
In its first 100 days, the Consumer Financial Protection Bureau has staffed up, studied up and started up a few key initiatives.
On the evening of October 26 Raj Date, Special Advisor to the Secretary of the Treasury for the CFPB, visited Minneapolis for one in a series of town hall meetings. The CFPB website had advertized for the events saying, “We’re on a mission. We’re criss-crossing the country to hear from consumers about their experiences with financial products and services.”