Trump is proposing a CFPB overhaul — who would that affect?

By April 20, 2017 Inman No Comments

Last week, Donald Trump announced that his administration was taking a close look at the Dodd-Frank Act and might replace those rules with “something else.”

The Consumer Financial Protection Bureau (CFPB) was created by Dodd-Frank to enforce regulations and receive consumer complaints, among other purposes; the Financial CHOICE Act, legislation currently winding its way through the House, would make the following changes to the CFPB:

  • The director can be removed at will (currently, the director can only be removed “for cause,” though there’s an active court case that could change that).
  • A...

Want to view this article?

Sign up, or log in, to instantly access this exclusive Inman Select/WFG content.
There's no catch (we promise), and we’ll even send you a weekly recap email with the hottest articles every Friday.