Venable of counsel Jonathan Pompan
was quoted in the October 1, 2012 edition of the National Law Journal
on the Consumer Financial Protection Bureau’s (CFPB) aggressive tactics in its investigations. Last month, a mortgage lender under investigation filed the first-ever challenge against the CFPB calling its document request “overly broad and unduly burdensome.” The CFPB denied the challenge.
Pompan said the CFPB’s actions provide a “window into the bureau's view of its aggressive ability to investigate.” Commenting on the public perception of the CFPB’s actions, Pompan added, “The bureau's supporters will likely view this as its appropriate role and critics will say that this is validation of their concerns about its power.”