The request for information on supervision processes is the fourth in what looks to be a lengthy list of reviews from the Consumer Financial Protection Bureau.
President Trump revealed his 2019 federal budget plan this week, which features “major savings and reform proposals” across many offices and agencies, including the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau will continue its more low-key, hands-off approach to consumer protection and regulation, one which equally emphasizes the rights of the regulated.
The request for information specifically calls for suggestions on “burden reduction” in its enforcement of federal consumer laws, while still fulfilling the bureau’s statutory function and commitment to transparency.
Kirsten Sutton Mork was serving as staff director of the House Financial Services Committee under Chairman Jeb Hensarling (R-Texas) prior to being appointed by CFPB acting director Mick Mulvaney.
A three-judge panel had previously sided with PHH Mortgage in its suit against the Consumer Financial Protection Bureau, declaring its structure unconstitutional and vacating its $103 million fine.