Items Tagged with 'Republicans'

ARTICLES

  • 113 congressional Republicans declare support for Mick Mulvaney as CFPB director

    File amicus brief in legal battle over bureau’s interim director
    Late last week, a group of 113 congressional Republicans declared their support for President Donald Trump’s authority to name Mick Mulvaney as the interim director of the Consumer Financial Protection Bureau. The Republicans argue that Leandra English's assertion that she should be leading the CFPB has no merit.
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  • Wells Fargo's latest fake account revelation proves why the CFPB must survive

    Republicans want less financial regulation, but they're wrong
    [Op-Ed] Wells Fargo’s latest revelation is the straw that broke my back. I’ve talked to enough people who work in the housing business to know that the CFPB made their lives much harder. I get why they hate the CFPB. I really do. But, I can’t just sit back and watch all of the financial regulation borne out of the financial crisis get undone. Situations like Wells Fargo show why the CFPB must exist.
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  • Carson says HUD will “reinterpret” Obama fair housing rule after Republicans ask for repeal

    What will become of the Affirmatively Further Fair Housing rule?
    Department of Housing and Urban Development Secretary Ben Carson said in an interview this week that HUD will look to “reinterpret” a controversial fair housing rule issued by the Obama administration in 2015. Carson’s statement comes just days after nearly 20 Congressional Republicans asked Carson to repeal the Affirmatively Furthering Fair Housing rule entirely.
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  • House Republicans move to repeal new CFPB arbitration rule

    Effort to rescind rule coming soon in Senate as well
    In the wake of the Consumer Financial Protection Bureau unveiling a new rule to ban companies from using mandatory arbitration clauses, Sen. Tom Cotton, R-Ark., immediately announced that he was launching an effort in the Senate to rescind the rule, stating that the CFPB has “gone rogue again” and is “abusing its power.” Now, Republicans in the House of Representatives are joining their Senate colleagues in moving to repeal the CFPB’s controversial rule.
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  • McConnell throws cold water on Republican Dodd-Frank repeal efforts

    Senate Majority Leader tells Bloomberg: "I'm not optimistic"
    The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, may enjoy the support of the House Financial Services Committee, the Trump administration, and even President Donald Trump himself, but the Senate’s top Republican said this week that he believes that the bill may never make it to President Trump’s desk.
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  • Senate Republicans unveil bill to replace CFPB director with committee

    Will the third time be the charm?
    Sens. Deb Fischer, R-Nebraska; John Barrasso, R-Wyoming; and Ron Johnson, R-Wisconsin, introduced a bill this week that would replace the single director of the CFPB with a five-member bipartisan committee, a change the Republican Party has long pushed for. According to Fischer's office, this is actually the third version of this bill, which she previously introduced in 2015 and 2016 to no avail. But will the third time be the charm?
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  • Former CFPB attorney pretty much just confirmed the worst fears of the mortgage industry

    We may be right, after all
    In "The Tragic Downfall of the Consumer Financial Protection Bureau," Ronald Rubin, a former enforcement attorney at the Consumer Financial Protection Bureau and former chief advisor on regulatory policy at the House Financial Services Committee, highlights what he calls the heavy politicization of the CFPB. In doing so, Rubin also just confirmed the worst fears of the mortgage industry.
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  • Elizabeth Warren pledges to fight Trump, Republicans on Dodd-Frank, CFPB

    CFPB architect: Big banks cannot be 'turned loose' on U.S. economy
    Just in case anyone thought that the Democratic Party plans to stand idly by while President-elect Donald Trump and the Republican Party move to undo many of the financial reforms of the last eight years, one of its most outspoken members pledged this week to fight Trump and the Republicans every step of the way.
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  • What's next now that Republicans control the Presidency and Congress?

    Are Dodd-Frank and the CFPB on the chopping block?
    While much of the country’s attention is focused on the seemingly unexpected election of Donald Trump, it shouldn’t be lost that the Republican Party also maintained its control of the House of Representatives and the Senate in this election. Now one party will control the legislative and executive branches of the government for at least the next two years. So what does that mean for the financial services industry, given the seismic changes the industry has seen in the last eight years?
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