Jacquot Comments on Importance of Newly Released CFPB Report
14 September 2017
American Banker
Partner Joe Jacquot was quoted in an American Banker article, “As Uncertainty Swirls, CFPB Keeps on Regulating,” explaining why banks cannot ignore the Consumer Financial Protection Bureau’s recently released semiannual report because of possible CFPB leadership changes.
Even though CFPB Director Richard Cordray is rumored to be leaving the agency, Jacquot said banks still need to review the semiannual report because it forecasts specific issues that the CFPB is focused on based on the past six months of supervisory exams.
Jacquot explained: “It would be at your own peril to ignore [the issues identified within the report], because whether Cordray stays or Trump decides to go with someone [to replace him], the priorities are indicative of where the agency may go.” The report contains “the kind of information state attorneys general offices will mine to begin to develop cases.”
Read the full article here (subscription required).
Even though CFPB Director Richard Cordray is rumored to be leaving the agency, Jacquot said banks still need to review the semiannual report because it forecasts specific issues that the CFPB is focused on based on the past six months of supervisory exams.
Jacquot explained: “It would be at your own peril to ignore [the issues identified within the report], because whether Cordray stays or Trump decides to go with someone [to replace him], the priorities are indicative of where the agency may go.” The report contains “the kind of information state attorneys general offices will mine to begin to develop cases.”
Read the full article here (subscription required).
Related News
21 January 2025
In the News
Foley’s 2025 MLK Jr. Oratory Competition Garners Significant Media Coverage
Foley & Lardner LLP’s 2025 Martin Luther King Jr. Oratory Competition garnered significant media attention this year as the student's message of leadership, unity, and civic responsibility especially resonated as the day celebrating Dr. King’s legacy coincided with the U.S. Presidential Inauguration.
17 January 2025
In the News
Jamie Kuhn's Arrival to Foley Highlighted in Press
Foley & Lardner LLP Public Affairs Director Jamie Kuhn received coverage in legal and business media for her arrival to the firm and strengthening of Foley's bi-partisan government solutions capabilities.
17 January 2025
In the News
Andrew Wronski Weighs in on New Administration's Potential Impact on Manufacturing Sector
Foley & Lardner LLP partner Andrew Wronski is featured for his insights on the incoming presidential administration's impact upon the manufacturing sector in the Milwaukee Business Journal article, "Tariff-ied of the Future?"