NAR recently joined a coalition letter with other industry groups that was sent to Representative Blain Luetkemeyer, Ranking Member of the Subcommittee on the House Consumer Protection and Financial Institutions. The letter to Representative Luetkemeyer expresses the coalition’s strong support for H.R. 4773, the Consumer Financial Protection Commission Act.
If passed, H.R. 4773 would change the governance leadership structure of the Consumer Financial Protection Bureau (CFPB) from a single director to a five-person, bipartisan commission. NAR has offered support in the past for there to be a multiple member bipartisan commission instead of a single director at the Consumer Financial Protection Bureau, because it will allow for a “balanced and deliberative approach to supervision, regulation, and enforcement.”
NAR will continue to provide updates on this House bill and legislation regarding the governance structure at the Consumer Financial Protection Bureau (CFPB).