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MBA’s Bob Broeksmit Slams CFPB for 'Regulatory Overreach'

The Mortgage Bankers Association’s president and CEO Bob Broeksmit has taken aim at the Consumer Financial Protection Bureau in a speech at the MBA’s 2022 Annual Convention & Expo in Nashville.

CFPBNoting that the MBA is “focused on stopping regulatory overreach,” Broeksmit said, according to prepared remarks, “The main threat we see is coming from the CFPB, where the single Director can act as judge, jury, and executioner, all in one.”

Broeksmit touted the MBA’s efforts “to educate the CFPB on the potential impact of their rules,” he said. “Now is no time to make you hire more lawyers to try to understand what the Bureau is doing.”

Read Bob Broeksmit's full speech.

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