Should CFPB Reorganize ‘Just Weeks Before an Election’?

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Share Save Sign up for DS News Daily 2020-10-27 Christina Hughes Babb Should CFPB Reorganize ‘Just Weeks Before an Election’? The Week Ahead: Nearing the Forbearance Exit 2 days ago U.S. Sen. Sherrod Brown (D-Ohio), the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, has called on Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger to delay the proposed reorganization of the agency’s Division of Supervision, Enforcement, and Fair Lending (SEFL) until after the election while raising questions on whether she would continue as the agency’s chief in a new administration.In a letter to Kraninger, Brown suggested that Kraninger’s job was at risk if she pursued her plans, claiming that a “reorganization of this magnitude is inappropriate just weeks before an election that will determine whether you continue as Director past January 20, 2021.”Kraninger was confirmed as the CFPB Director in December 2018 and her job is a five-year term. However, the U.S. Supreme Court ruled earlier this year that the President has the ability to fire the CFPB director at will. With Kraninger having been appointed by President Trump, Brown’s comments could be read as an insinuation that her tenure could be reconsidered under a Joe Biden administration.Brown proposed that Kraninger “not move forward with the SEFL reorganization until it is clear” her job was secure. He also requested that she cede communications with his office on the subject to Brian Schneider, the CFPB’s Associate Director for the SEFL Division, and Thomas Ward, the Director of Enforcement.In his letter, Brown referred to an earlier call he had with Kraninger in which he shared “concerns that the SEFL reorganization will weaken the Bureau’s ability to hold financial institutions accountable for violating the law and obtain redress for harmed consumers.” He contradicted Kraninger’s alleged response that the reorganization would enable the agency’s Office of Enforcement (Enforcement) with additional technical resources and reporting capabilities, claiming that CFPB documentation did not support that claim.“According to the Bureau’s documents you provided me, the claimed objective of the SEFL reorganization is to allow for ‘centralization and streamlining’ and ‘establishment of a consistent and unified SEFL approach to policy and strategic planning,’” Brown wrote. “While these objectives may have merit, how they are achieved matters. Here, to the extent the reorganization achieves any desired consistency or efficiency, it is by cutting out Enforcement’s voice and role in critical SEFL decision making processes. It also introduces inefficiency and confusion by taking dedicated Enforcement resources, such as the E-Litigation team, and asking them to do non-Enforcement work and report to a new SEFL-wide office.”Kraninger has not yet publicly commented on Brown’s letter. Related Articles Previous: FHFA Strategy Focuses on Post-Conservatorship Years Next: Hubzu Launches Mobile App Home / Daily Dose / Should CFPB Reorganize ‘Just Weeks Before an Election’? Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Phil Hall The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. October 27, 2020 14,275 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

SCOTUS: LGBTQ Workers Protected Against Workplace Discrimination

first_img(Washington, DC) — The Supreme Court is handing LGBTQ workers a big win by extending the federal civil rights protection in workplace to all LGBTQ employees.The Supreme Court declared Monday that the historic Civil Rights Act of 1964 protects LGBTQ employees from workplace discrimination. BREAKING: #SCOTUS just ruled in favor of 3 LGBTQ employees who were wrongfully fired because of their sexual orientation or gender identity. This decision is historic, and it affirms the rights of LGBTQ employees in the workplace. This is some much needed good news— National Women’s Law Center (@nwlc) June 15, 2020 That means people can’t be fired due to their sexual orientation or gender identity.The ruling was split, 6-3. Chief Justice John Roberts and Justice Neil Gorsuch ruled with the high court’s four liberals.Gorsuch is a Trump appointee.last_img read more

Melling signs new Harlequins RL deal

first_imgHarlequins RL wing Chris Melling has signed a new two-year contract.The former Great Britain full-back, 26, has become a popular figure at Quins since joining the club from Wigan in 2006.“We want to be a club where people come and want to stay. To retain a player like Chris in the middle of his career shows our intent as we move forward,” said Quins head coach Rob Powell.AdChoices广告“Chris has been a fantastic club man since he’s been down in London. On the field, he has had a really good season.”last_img