News

April 18, 2019

Partner Eric Johnson comments for Bloomberg Law article on CFPB Chief's focus

On April 18, Bloomberg Law reported that new Consumer Financial Protection Bureau (CFPB) director Kathy Kraninger will be placing an emphasis on supervising financial firms rather than relying on enforcement actions to protect customers. Bloomberg summarized Kraninger's first major policy speech, noting that she looks to be taking a similar stance to her predecessor, Mick Mulvaney, but with a "kinder, gentler, less sarcastic tone." A focus on supervision and rulemaking will "prevent violations from happening in the first place," Kraninger said in her speech on April 17.

When interviewed for the story, Partner Eric Johnson said Kraninger sees "supervision as the heart of the CFPB. Before, under Cordray, enforcement was the heart of the heart of the CFPB."

Bloomberg subscribers may click here to read the full article.


Hudson Cook, LLP, provides articles, webinars and other content on its website from time to time provided both by attorneys with Hudson Cook, LLP, and by other outside authors, for information purposes only. Hudson Cook, LLP, does not warrant the accuracy or completeness of the content, and has no duty to correct or update information contained on its website. The views and opinions contained in the content provided on the Hudson Cook, LLP, website do not constitute the views and opinion of the firm. Such content does not constitute legal advice from such authors or from Hudson Cook, LLP. For legal advice on a matter, one should seek the advice of counsel.