The fifth anniversary can be a large milestone and something to really celebrate, but for the fifth anniversary of The Consumer Financial Protection Bureau (CFPB), which came on Thursday, July 21, the celebration may be premature. Some critics even wonder whether the Bureau as it stands now will be around to celebrate next year.
From the Bureau’s initiation, the stated purpose of the CFPB has been protecting consumers in the financial marketplace. But earlier this year, Congress proposed changes for how the Bureau is funded, moving for annual appropriations, as well as changes for the CFPB leadership, calling for a bipartisan commission instead of a single director. As the CFPB begins a new year, plans for progression are the mission of the Bureau. They state that will continue to work on protecting consumers in the financial marketplace and empowering them to make informed financial decisions.
Freddie Mac announced the pricing of its third Freddie Mac Whole Loan Securities, which totaled to roughly $348 million of guaranteed senior and non-guaranteed subordinate actual loss securities. Kevin Palmer, senior vice president of Freddie Mac Credit Risk Transfer said quote We are pleased to bring our third WLS transaction to market and have seen strong investor. We expect to be a regular issuer of WLS going forward.