An organizational redesign is underway at the Consumer Financial Protection Bureau (CFPB), which includes eliminating the enforcement authority of what, historically, has been one of the agency’s most active supervisory offices.
Acting director Mick Mulvaney told staffers in an email that the Office of Fair Lending and Equal Opportunity will be transferred to the Director’s Office while its enforcement abilities remain with the Supervision, Enforcement and Fair Lending Division. Additionally, the bureau’s Office of Consumer Response will be integrated into the agency’s Council for Economic Education Division.
Find out more about how the changes will affect the bureau’s day-to-day functions and what kind of response the move has drawn from consumer groups.