December 25, 2018

American Banker quotes Andy Arculin about the CFPB once again entering the new year with a direction to be determined

1 min

On December 25, 2018, Andy Arculin was quoted in the American Banker about the 2019 outlook of the CFPB as the agency gets a new Republican-appointed director, Kathy Kraninger.

In 2019, Kraninger faces a packed agenda with new rulemaking developments on payday lending and debt collection, noting that consumer advocates and industry groups are heavily lobbying the CFPB on both rules. Kraninger is also expected to keep political appointees as top decision makers, noting that she does not plan to discuss personnel matters publicly.

"She could take the bureau in a number of directions," said Mr. Arculin. "But the installation of political appointees in key policy positions has altered the way the CFPB does business and that is unlikely to change."