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Acting comptroller thwarts CFPB, even as Dems question his authority

Joe Mont | October 18, 2017

In recent weeks, the Office of the Comptroller of the Currency has positioned itself as a defensive line between banks and financial services firms and the restrictive rulemaking of the Consumer Financial Protection Bureau. Now, amid inter-agency battles about payday lenders and mandatory arbitration  Senate Democrats are questioning the legal status of Acting Comptroller Keith Noreika.

On Oct. 16, Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) and Senators Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), Robert Menendez (D-N.J.), Jack Reed (D-R.I.), and Catherine Cortez Masto (D-Nev.) wrote to the Department of the Treasury’s Office of the Inspector General, asking it to initiate an investigation into the misapplication of Special Government Employee (SGE) status with regard to Noreika.

An SGE is an...

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