Limiting CFPB Reduces Big Bank, FinTech Oversight

Financial Services attorney Eamonn Moran was quoted in an S&P Global Market Intelligence article expressing optimism over the nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau (CFPB), suggesting that the current period of upheaval is likely temporary. Mr. Moran indicated that the executive branch's influence over the CFPB might be limited, as certain changes will require congressional action to implement. This reflects a potential stabilization in the bureau's operations amid ongoing debates about its future and scope of authority.

"Certainly the existing statutory authority that the CFPB has won't change unless there's an act of Congress," he said.

READ: Limiting CFPB Reduces Big Bank, FinTech Oversight