March 20, 2019
Partner Eric Johnson addresses Waters' CFPB scrutiny in Non-Prime Times article
In his monthly NAF Legal Committee Chair column in Non-Prime Times, Partner Eric Johnson looks at the letter sent by U.S. House Financial Services Committee Chair Maxine Waters and Subcommittee on Oversight and Investigations Chair Al Green to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger requesting documents on the CFPB's settlements with three companies this year that have not resulted in fines or restitution. The letter requested that the CFPB provide any communications between the Bureau and others, including the accused companies, related to restitution to impacted consumers, as well as any and all drafts of the proposed consent order, all meeting minutes, and all memorandum in draft or final form. It is clear that Rep. Waters has kept her word in focusing in on the CFPB to ensure that it is meeting its statutory purpose to protect consumers.
Click here to read the full article on page 4.