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October 24, 2017

U.S. Chamber Praises House Passage of Legislation to Bar Federal Agencies from Diverting Settlement Money to Third-Parties

In a letter to the leadership of the Senate Committee on Banking, Housing and Urban Affairs, Acting U.S. Comptroller of the Currency Keith Norieka said the “CFPB’s secret analysis” will not benefit consumers, according to Legal Newsline.

Noreika wrote that consumers are “counting on their government officials to look out for their interest and not the special interests benefited by this rule.” He called on the CFPB to release its analysis to ensure government regulations are “not based on secret data available only to the government.”

The House of Representatives has already passed a resolution to repeal the rule. That resolution now sits before the Senate.

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