This was a case in which they tested the limits of their authority as well, and the court rebuked them for it. They like to test the limits of their authority. This is another case, a second case, in a suit against the CFPB that the CFPB has lost. I wanted to come on and talk to you about a case that many in the industry are talking about. Get us updated on the latest developments legally, especially as it relates to CFPB, fair lending, and ECOA. There have been some new developments, and that’s what we’re here to talk about. My favorite part is you’re the only one to have sued CFPB. Mitch Kider, it is good to have you back. He says, “We need to share this with your audience.” We’re honored to have Mitch give us some more insights. There’s something significant that has developed that Mitch reached out to us. I’m excited to have a dear friend back on the show, Mitch Kider. The Townstone Financial Case: CFPB, ECOA, And Fair Lending With Mitch Kider Of WBK Firm

Although this would hardly undo the damage that the CFPB has already done to countless companies, this is a positive step towards fairer regulation in the industry. Mitch believes that the Townstone Financial Case is an important one from an administrative law perspective because it clearly defined the bounds of the CFPB’s authority. Joining the show to explain the case is Mitch Kider of the WBK Firm.

This time, it lost, and this landmark case gives us key takeaways on just how much power should be in the hands of the CFPB and how do we know it is already overstepping its bounds. The Townstone Financial Case is the second suit against the CFPB (Consumer Financial Protection Bureau), which has been aggressively pursuing redlining claims against independent mortgage bankers over the past couple of years.

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