Something has been missing in some of the most recent settlements facilitated by the Consumer Financial Protection Bureau (CFPB) that had been a mainstay of its consent orders under former Director Richard Cordray: restitution.
That fact did not go unnoticed by the House Financial Services Committee and presented a timely opportunity for Dodd Frank Update to reach out to Goodwin Proctor Partner and former CFPB head of enforcement Anthony Alexis to get an insider’s take on the process of determining whether redress is warranted.
Find out more details about the letter and what our source had to say.