Treasury plan is “ambitious and wide ranging,” says Jeremiah Buckley, co-chair and attorney at BuckleySandler, a financial services law firm. Buckley sees it will take a long time to set up a functioning CFPA and to integrate all regulatory functions. Buckley: “Care must be taken to avoid going overboard in consumer protection, placing responsibility for every mortgage failure on the lender by arguing that the lender has a fiduciary duty to be sure the outcome is right for the borrower””]
Source: https://www.cuinfosecurity.com/regulatory-reform-reactions-ambitious-a-1560