Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.
A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm elections could cause some reform initiatives to grind to a halt.
Over 30 current and former Democratic lawmakers filed a new amicus brief Monday supporting Consumer Financial Protection Bureau Deputy Director Leandra English to be reinstated as acting director of the agency.
A bipartisan Senate alliance working on a bank regulatory relief bill appeared even stronger Tuesday as it worked to minimize changes in the interest of moving the legislative package to the Senate floor.
In a letter to President Trump, 44 Democratic senators said the White House's appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau "jeopardizes the agency’s independence and effectiveness."
The ill will between Democrats and Republicans in the controversy over appointing an acting Consumer Financial Protection Bureau chief adds a new wrinkle to bipartisan efforts to pass regulatory relief.