CFPB and Blanket Immunity for Fin-Tech Companies
I agree with reducing regulations but being careful of over doing a good thing.
No doubt it has a political component, but this battle has been going on for months. Google fintech sandbox cfpb. It all looks safe and well thought out after reading the CFPB spin (trial program, innovation, etc.) but I don’t blame the guys for bringing this up here. The reality is that it is one more example of the move toward breaking this industry.
One day when all homes are bought/sold through mega-corps and their are no more middle-class jobs in the mortgage industry this program will be on the list as one of the reasons why.
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