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Benjamin K. Olson quoted in American Banker article, “Five questions for CFPB nominee to replace Mulvaney”

American Banker

Benjamin K. Olson

Benjamin K. Olson was quoted on March 12, 2018 in an American Banker article, “Five questions for CFPB nominee to replace Mulvaney,” which discussed the many questions that will emerge following the nomination of a CFPB director. The article listed questions for the next CFPB nominee, including, “Do you agree with Mulvaney's recent actions, or would you set another new course” The article further noted, “Mulvaney recently told state attorneys general that he would cede authority to them and to other federal banking regulators. He also has deftly laid the groundwork for pulling back on the agency's consumer protection priorities by issuing a dozen requests for information on all aspects of the CFPB's processes.”

Olson added, “Lawmakers may want to rethink the idea of the CFPB giving deference to state attorneys general on interpretation of federal law. For any lender or provider who operates on a national basis or in multiple states, the idea of complying with different interpretations of federal law on a state-by-state basis is just unworkable.” 

Click here to read the full article.