CFPB Intensifies Coordination with State AGs; Focus On Servicing, Forced-Place Insurance, Hybrid ARMs
March 15, 2012
The director of the Consumer Financial Protection Bureau himself a former state attorney general is looking to work more closely with state officials. Quite bluntly, we need your experience, your perspectives and your coordination in a strategic effort to root out fraud and unfairness in the financial marketplace, said CFPB Director Richard Cordray in a speech to a convention of state AGs. The CFPB is already involved in several working groups that are actively cooperating with state AGs and their staff, one of which has to do with foreclosure scams and another on debt collection. These...