CFPB’s Fair Lending Organizational Change

The acting director of the Consumer Financial Protection Bureau (CFPB), Mick Mulvaney, is moving members of the Office of Fair Lending and Equal Opportunity to his office. Consumer Reports reported that these fair lending staff personnel will go from filing legal enforcement actions against lenders to focusing on advocacy, coordination and education. The CFPB indicated that it will still investigate and prosecute unfair lending practices. Consumers who think they are victims of fair lending violations can continue to report instances on the CFPB’s complaint database.

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John Zasada is a principal with CLA and leads the firm’s financial institution regulatory compliance practice. He assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, training staff on regulations, and performing website compliance assessments. In addition, John is a frequent speaker at industry conferences and state associations. Prior to joining CLA, he served as managing director at a top-10 accounting firm and as the compliance officer of a large financial institution, where he developed and implemented its first regulatory compliance program.

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