Consumers, businesses, and the economy will suffer from the incredible uncertainty created by this political stunt.
Businesses will play by the rules, but regulators have an obligation to ensure that those rules are clear. For a number of reasons, the creation of the CFPB has made it more rather than less difficult for companies to know what is expected of them.
On Sunday, the White House released a 14-page report which attempts to make the case for Senate confirmation of a CFPB director. With this report and the subsequent media blitz, the White House is attempting to pull off a semantic trick that implies that without a director in place, non-bank pr
Hundreds of rules continue to be proposed, tweaked, tinkered with, and hashed more than a year after Dodd-Frank was signed into law. Among the most significant in the works is a proposed rule that would require “end-user” companies to post margin, or collateral, when using derivatives. This coul
The confirmation of the Bureau’s Director is the only check Congress has over the new Consumer Financial Protection Bureau (CFPB). Despite claims to the contrary by the agency’s defenders, the CFPB is the only Federal agency with a single, fully independent Director who has direct access to fund
As small businesses go, so goes the economy, and given the state of our economy, it’s probably a good idea to do no harm to these guys.
It is widely accepted that small businesses contribute disproportionately to job creation. According to the Small Business Administration (SBA), small business
When it comes to the leadership structure of the Consumer Financial Protection Bureau (CFPB) the administration is acting more like a famous aquatic mammal than an advocate for good financial regulatory reform.
On June 17, 2009, the Treasury Department released an 88-page blueprint for financial
Today’s hearing in the House Agriculture Committee will give Main Street businesses a chance to sound the alarm about the reckless pace and outrageous cost of derivatives regulation.
Let’s hope the regulators get the message.
Passage of the Dodd Frank Act kicked off an intense year of regulato
Today, Andy Pincus from Mayer Brown LLP will testify on behalf of the U.S. Chamber at the Senate Banking Committee hearing on the Consumer Financial Protection Bureau (CFPB). His testimony will highlight the unusual, and unaccountable structure of the Bureau, and lay out a series of proposed chang
As we close in on the one-year anniversary of Dodd-Frank, the new Consumer Financial Protection Bureau (CFPB) prepares to open its doors for business on July 21, 2011. On that day, enormous power to regulate and sanction banks, financial service companies, and even Main Street businesses will be
As the new Consumer Financial Protection Bureau (CFPB) continues to take shape, we remain committed to working with Congress and the Bureau to ensure the agency has a stable, accountable structure, and a focus on weeding out fraudulent and predatory practices, while preserving individual and small
In her first testimony before Congress since taking on the task of advising the newly-formed Consumer Financial Protection Bureau (CFPB), Elizabeth Warren outlined the progress in setting up the agency and offered her vision for its future. We appreciate the opportunity to hear from Ms. Warren an
