In anticipation of the upcoming election and the possibility of a republican taking the head of the Consumer Financial Protection Bureau (CFPB), the CFPB is saying they need to pick up the pace of a few rule makings. These rule makings, if a republican were to be elected, could structurally change everything.
There will be many discussions on student loans, debt collection, and mortgage servicing, as well as market lending, fair lending, and aggregators that collect personal information from consumers.
The pending US Court of Appeals case of the D.C. Circuit. Mount Laurel, the New Jersey mortgage company PHH Corp, is also being effected during this election time, with the director of CFPB, Richard Cordray in a $109 million enforcement ruling against PHH. This is a very significant case, as is the first to challenge an administrative member of CFPB.