Elizabeth Warren

The latest battle in the war between finance and regulation: the attempt to neuter the CFPB

Several developments have the banking industry up in arms. Each of these traces back to Sen. Elizabeth Warren, D-Massachusetts. The first was the new mortgage disclosure rules from the Consumer Financial Protection Bureau, or CFBP. The regulations consolidate several documents, mandate greater transparency in simpler language and require a three-day disclosure before a real-estate closing. The industry is none too happy about this. A related issue came about when one of the hired guns at a Washington think tank got caught violating internal rules on conflicts of interest. Both the analyst and think tank were hired to oppose new Labor Department fiduciary rules covering...