The New CFPB Director is Awesome. That is all!
Great commentary today Brian. I think on balance both you and Frank have been reasonable and moderate voices on this subject from day one.
The good actors in our industry which in most cases were the only ones standing after the financial crisis shouldered the brunt of a reactionary congress dead set on blaming anyone other than themselves. The real story has never been told and at this late date no one really cares anymore.
To those that would decry the realignment of methods and objectives that the new CFPB director has outlined or to those that would suggest that the CFPB has no role in consumer protection, I say that it is these extreme views that are the problem…so tired of the extreme left and right screaming…settle down and recognize the center is a place of reason and rational. It is our best hope for a better and kinder nation.
This is the result of having a President who doesn’t hate big business and wants everyone to succeed. Obama and his minions looked at businesses like an open cash register they could pillage whenever they wished. Hillary would have been more of the same. No wonder Consumer Confidence is at a 17 year high and the stock market is roaring. Thank you President Trump!
I have been a mortgage Broker for 27 years. I juststarted Within the last year doing Document Preparation for people with Student Loans. We help about 20-30 people a day. Throughout our industry I hear Of the CFPB raiding offices like mine because of violations that are no where in there rules and regulations. Mind you we do no financing whatsoever. We only prepare documents and mail them to the lenders. So how does an agency who only deals with companies that basically provide financing go after Doc prep companies?? They shouldn’t, but they do because they think they have the power to regulate whoever they like. They are a huge government agency and no one in the past administration stopped them because all co summers are victims and lenders are predators. They got too big and thought nobody could stop them until now. Try calling and getting an answer about how to run a document preparation company to be in compliance with the CFPB and they seriously have no answer for you. Of course until your company is raided. Lenders need regulation, CONSUMERS need regulation, but most of all the CFPB needs to be regulated.
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