You will be pleased to know that the Consumer Financial Protection Bureau which is a product of the Dodd-Frank Act has gone on a three month hiring spree and now employs 700 people. This is the agency that Elizabeth Warren had hoped to govern.
The de facto CFPB leader [Raj Date] said the bureau’s troop of bank examiners is already on-site at big banks to review the lenders’ operations and practices. The agency also is fielding complaints from consumers. …
Date said the agency has received 22,000 public comments on prototype mortgage disclosure forms proposed by CFPB. When finalized, the forms will be rolled into one document that features both the Truth In Lending Act and Real Estate Settlement Procedures Act.
As General Maximus said at the beginning of the movie “Gladiator”: “Unleash hell.”