Adam Constantine on MLK Jr.’s impact on housing equality

During the interview, Constantine explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives.

Navigating capacity concerns amidst record-high volumes

High loan volumes continues to loom large in the new year, making the “one-stop-shop” approach to the servicing and lending process even more appealing.

How servicers continue to protect neighborhoods amid COVID

We spoke with MCS CEO Caroline Reaves about self-service technology, the shift to virtual and how servicers can prepare for post-COVID success by improving processes today.

How student loan debt impact homeownership

Student loan expert Catalina Kaiyoorawongs shares her practical and tangible advice for people who feel overwhelmed by their student loan debt.

Politics & Money

CFPB creates taskforce to examine federal consumer financial law

To configure where regulation should be simplified and modernized

The Consumer Financial Protection Bureau announced it will establish a taskforce to examine ways to modernize federal consumer financial laws.

The taskforce on Federal Consumer Financial Law will examine the existing legal and regulatory environment facing consumers and financial service providers. It will examine ways to improve and strengthen consumer financial regulations and report what it finds to CFPB Director Kathy Kraninger.

The taskforce will produce new research and legal analysis of consumer financial laws that will focus on harmonizing, modernizing and updating the existing consumer credit laws. It will identify gaps in knowledge that can be addressed through research, ways to improve consumer understanding or markets and products and potential conflicts or inconsistencies in existing regulations and guidance.

“An objective and independent evaluation of our current regulatory framework to identify where there may be gaps or where regulation should be simplified or modernized is needed to help us more effectively carry out our mission of protecting consumers,” Kraninger said. “As we work to set up the taskforce, we encourage interested individuals to apply to be considered to be part of the taskforce.”

The members of the taskforce have not yet been selected, but will include several members with a broad range of expertise in the areas of consumer protection and consumer financial products or services; analyzing consumer financial markets, laws and regulations; and a demonstrated record or senior public or academic services. The CFPB is now accepting applications for members to serve on the taskforce.

Earlier this year, The CFPB announced that it plans to “periodically” review its regulations and may amend or even abolish existing rules.

According to the CFPB, the review of its rules is stipulated by the Regulatory Flexibility Act, which establishes that agencies should review certain rules within 10 years of their enactment and consider those rules’ impact on “small businesses.”

Most Popular Articles

CFPB Director Kathy Kraninger resigns at Biden’s request

Consumer Financial Protection Bureau Director Kathy Kraninger announced Wednesday she is resigning from her post at the request of President Joe Biden’s administration.

Jan 20, 2021 By

Latest Articles

HousingWire Lead Analyst featured on Bloomberg Radio

Logan Mohtashami doesn’t think rising home prices will lead to a market crash. Listen to his interview on Bloomberg Radio hosted by Paul Sweeney and Vonnie Quinn.

Jan 23, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please