CFPB Regulations Subject to OMB Review? Why Not?

Representative Hensarling  sent a letter to OMB regarding its jurisdiction over CFPB rulemaking as a result of the recent Circuit Court ruling on the same; see( hensarling-cordray )

Well, the American Bankers Association has a different view.

CRE has been a long time advocate of bringing the independent agencies rulemaking under the jurisdiction of OMB.

Obviously the final call will be made by the incoming Administration who could  be in sync with the American Bankers Association.



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