On June 25, 2018 NAR sent a letter to the Honorable Mick Mulvaney, Acting Director Bureau of Consumer Financial Protection (the Bureau). The letter provides comments on the Bureau’s Inherited Regulations and Inherited Rulemaking Authorities. In accordance with the Dodd-Frank Act, the Bureau obtained jurisdiction over consumer financial protection functions previously vested in certain Federal agencies, including responsibilities over various regulations and rulemaking authorities. This collective streamlining has placed a tremendous amount of oversight over consumer financial products and services, and as a result has greatly impacted a variety of industry operations by real estate professionals and settlement service providers.
NAR Letter to Acting BCFP Director Mick Mulvaney Regarding RFI on Inherited Regulations
Issue Date: June 25, 2018
On June 25, 2018 NAR sent a letter to the Honorable Mick Mulvaney, Acting Director Bureau of Consumer Financial Protection (the Bureau). The letter provides comments on the Bureau’s Inherited Regulations and Inherited Rulemaking Authorities. In accordance with the Dodd-Frank Act, the Bureau obtained jurisdiction over consumer financial protection functions previously vested in certain Federal agencies, including responsibilities over various regulations and rulemaking authorities. This collective streamlining has placed a tremendous amount of oversight over consumer financial products and services, and as a result has greatly impacted a variety of industry operations by real estate professionals and settlement service providers.
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