By Richard A. Roth, J.D.
The Consumer Financial Protection Bureau adopted two major final rules in 2016, one addressing mortgage servicer conduct and the other regulating prepaid accounts. The bureau also proposed rules on permissible predispute arbitration clauses and on short-term or payday loans, and it outlined its ideas for governing third-party debt collections. However, the Republican election victory and a decision by the U.S. Court of Appeals for the District of Columbia Circuit combine to cast doubt on whether the bureau will be able to finalize these rules before presidential or congressional action either restructure it or simply block further action.
This article previously appeared in the Banking and Finance Law Daily.
