March 07, 2018

American Banker quotes Allyson Baker about Mick Mulvaney’s plans for the CFPB

1 min

Allyson Baker was quoted in a March 7, 2018, article in American Banker about Consumer Financial Protection Bureau Director Mick Mulvaney's plans for the agency moving forward. According to the article, in the past week, Mulvaney has made two speeches to different audiences in which he discussed his plans. On Feb. 28, he told a collection of state attorneys general that he expects them, not the CFPB, to take the lead on enforcement of violations of consumer protection laws against financial firms. A day later, he said the Office of the Comptroller of the Currency and the Federal Reserve should take the lead on supervisory matters when it comes to banks under their purview.

"Some observers might believe that the CFPB is not going to be bringing as many enforcement actions and some state attorneys general might choose to pursue enforcement actions where the CFPB might otherwise have done that," said Ms. Baker.