Bryan Schneider, who previously led the Illinois Department of Financial and Professional Regulation, has been named associate director of the supervision, enforcement and fair lending division at CFPB.
In yet another volte-face, the CFPB now believes the rule limiting the president’s ability to fire the bureau’s head is unconstitutional, according to a brief filed last week by the Department of Justice.
The third meeting this year between officials of the CFPB and the CMLA focused on the loan originator compensation rule. The trade group noted that bureau Director Kathy Kraninger is open to industry feedback.
The CFPB named a high-ranking official of a student loan servicer as the bureau’s private education loan ombudsman. The move has drawn criticism from consumer groups.
A dozen Republican state attorneys general asked the Supreme Court to review the challenge to the CFPB’s structure, stating their belief the bureau directorship is unconstitutional.
Democratic lawmakers have called for the removal of Eric Blankenstein, currently a HUD official, after it was found that he likely abused his authority at the CFPB in dealing with a controversy tied to his racially-charged writings of the past.