MBANow: MBA Associate Vice President Justin Wiseman on CFPB Requests for Information

The Mortgage Bankers Association released a new MBANow video featuring MBA Associate Vice President and Managing Regulatory Counsel Justin Wiseman, who discusses recent requests for information issued by the Consumer Financial Protection Bureau.  

The video can be viewed at https://www.youtube.com/watch?v=Bc8SW71B7kA&feature=em-uploademail.    

Over the past several months, the CFPB has issued a dozen RFIs on a variety of topics. CFPB Acting Director Mick Mulvaney said these RFIs represent a complete examination of the Bureau’s practices, from administrative adjudications to how it issues rules and guidance.   

“It’s fair to say that this is part of Acting Director Mick Mulvaney’s sort of call for evidence on Bureau operations,” Wiseman said. “He’s been very publicly outspoken about his desire to return the Bureau to what he believes to be its statutory mission, which is a more humble enforcement of the laws as he would put it, and one that focuses on the Bureau statutory mandate but doesn’t expand further or use novel theories and its enforcement actions.”  

Wiseman said MBA intends to comment on all 12 RFIs. “It’s actually a wonderful opportunity for us, as many of these concepts were embodied in [MBA’s] CFPB 2.0 white paper that we issued last September, providing what we thought should be our blueprint for how the Bureau can better serve both consumers and financial markets,” he said. “It’s obviously also going to be a huge topic of discussion at [MBA’s] Legal Issues and Regulatory Compliance Conference.  

The Legal Issues and Regulatory Compliance Conference takes place Apr. 29-May 2 in Los Angeles; for more information, click https://www.mba.org/store/events/conferences-and-meetings/legal-issues-and-regulatory-compliance-conference.     

Other videos in the MBANow series can be viewed at the MBANow website: https://www.mba.org/get-involved/stay-connected/mba-now.