‘Regulation by Enforcement’ Makes Compliance Unpredictable, New MBA Chair Says

American Banker, Oct. 23, 2017–Elina Tarkazikis (subscription)
The Consumer Financial Protection Bureau’s practice of “regulation by enforcement” forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, according to David Motley, the new chairman of the Mortgage Bankers Association.