Regulation by Enforcement

Regulation by Enforcement

October 27, 2016, Bank Director

Eric Mogilnicki is quoted in a Bank Director article regarding the significant impact the CFPB has had on the banking industry in its first five years of existence. According to Mogilnicki, the bureau signifies an evolution rather than a revolution in the banking industry's regulatory infrastructure. "Banks have always been concerned about compliance and consumers, but the CFPB recalibrated the extent to which they do those things," he says.