The powerful consumer regulator is working on a plan to identify ways to improve the consent order process. The idea: release so-called "reformed" players from the regulatory burden of CO prison.
The bureau indicated it could grant “a limited extension of the expiration date only as necessary” to provide for an orderly transition away from the patch.
The founder and CEO of Premium Point Investments, New York, was sentenced to 50 months in prison for overvaluing by $100 million the value of securities his hedge fund had invested in.
The CFPB plans to assess the costs and benefits of the integrated mortgage disclosure rule, inviting stakeholders and the public at-large to comment. Assessment results will be released by October 2020.
The CFPB's assessment of the TRID rule does not mean the bureau is planning to eliminate or even modify the rule, according to attorneys watching the action.
The CFPB’s latest financial report for fiscal year 2019 reveals a cut in the agency's workforce, lower funding levels and a slower enforcement process.