Former Regulator Details CFPB's Secret History of Stonewalling

He is at it again. Former regulator (and persistent Consumer Financial Protection Bureau critic) Ronald Rubin has written another in a series of articles - this one published in HousingWire – about practices the CFPB would certainly prefer to keep secret.

This time around, Rubin details the Federal Inspector General's investigation of the CFPB oversight supervisors, their stonewalling techniques, and the reprimand the supervisors issued to cover it up – one they subsequently had to withdraw.

The article discusses, at length, the ways in which the CFPB obscured information and resisted external investigators’ requests for information, such as encouraging attorneys to:

• Summarize rather than produce original documentation;
• Construe requests as narrowly as possible;
• Telling interviewees to intentionally mis-interpret questions that might reveal CFPB shortcomings; and
• Forbidding employees to bring documents to interviews that might refresh their memories.

The next step could very well be congressional hearings, now that the House Financial Services Committee knows which documents to request from the Inspector General, Rubin adds.

You can read Rubin's full opinion here.

You can find Ronald Rubin here.

Some of his other recent tell-all articles include:

The Tragic Downfall of the Consumer Financial Protection Bureau

Former Regulator Accuses CFPB of Targeting the Biggest Companies and Imposing "The Maximum Fines They Can Afford to Pay”

Former Regulator Points to CFPB Failure behind Wells Fargo Scandal

Former Regulator Offers Extensive and Scathing Details of Life Inside the CFPB

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