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Benjamin K. Olson Quoted in Bloomberg BNA Article, “What to Expect If the GOP Takes Control of the CFPB”

Bloomberg BNA

Benjamin K. Olson

Benjamin K. Olson was quoted on August 15, 2017 in a Bloomberg BNA article, “What to Expect If the GOP Takes Control of the CFPB,” which discussed the predicted changes that will take place if CFPB Director Richard Cordray resigns. The article noted, “Expect less ‘rulemaking by enforcement’ and a slowdown or even freeze on formal rulemaking. The agency is likely to focus on blatant fraud rather than push the envelope on its jurisdiction and rely more on supervisory referrals with fewer actions against certain non-banks. The CFPB’s rulemaking agenda is an area where a new director could make quick headway by slowing down or effectively halting pending rules that haven’t been finalized.”

Olson added, “I think new bureau leadership can stop the forward-advance of new rules and enforcement actions coming out of the CFPB fairly easily — and that will be a major relief to the industry in terms of catching its breath after a whirlwind seven years since the Dodd-Frank Act was passed.”

Click here to read the full article.