Noting 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.”