The Mulvaney Memo on the CFPB and the rule of law is one of the most remarkable documents to be published by an agency head in many years. It signals a deep commitment to the rule of law as a philosophical concept and as an important brake on agency discretion
Continue Reading
Eric McLaughlin
Mr. McLaughlin is an associate in Davis Polk’s Financial Institutions Group. [Full Bio]
Follow: Read more about Eric McLaughlin
The CFPB’s Call for Evidence: An Indication of Further Regulatory Rebalancing
Posted in CFPB, Guidance & FAQs
The CFPB’s announcement of a call for evidence is a welcome sign that the new leadership of the agency is thinking seriously about how it implements its mission. In the coming weeks the CFPB will publish a series of Requests for Information (RFIs) seeking public comment on the CFPB’s enforcement,…
Continue Reading
The Systemic Risk Designation Improvement Act of 2016: A Different Approach to Regulatory Relief for Regional and Specialty Banking Organizations
By Margaret E. Tahyar & Eric McLaughlin on
Today, the House of Representatives passed, by a 254-161 vote, the Systemic Risk Designation Improvement Act of 2016 (the “Act”), which is designed to relieve regional and specialty banking organizations from enhanced prudential standards and heightened supervision requirements under the Dodd-Frank Act. The Act would, after a one-year phase-in period,…
Continue Reading