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May 3, 2023

Scotsman Guide Residential Edition: "Flexing Its Might: Get Ready for the CFPB to Play an Even Larger Role in Housing Finance"

Brian Rich, partner, had his “Flexing Its Might: Get Ready for the CFPB to Play an Even Larger Role in Housing Finance” article published in Scotsman Guide Residential Edition. The article notes that the Consumer Financial Protection Bureau (CFPB) is one of the “strongest muscles in the machinery of the US government” and that it may start to flex its muscles now that the United States is heading into a recession. Brian’s article explores what mortgage professionals should know about the role the CFPB could play in their lives. 

Brian’s article provides a few key points: 

The Regulatory Outlook for the CFPB:

  • The CFPB was created 12 years ago.
  • The agency has taken on a major role in regulating the mortgage industry.
  • Its mandate has seemingly broadened over time.
  • Current director Rohit Chopra appears to favor an ambitious, progressive agenda.
  • With the backing of the Biden administration and the Senate, Chopra seems emboldened.
  • This could mean more oversight in the very near future. 

Click here to read the full article. 


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