As Appeared in Law360, “After Year With Mulvaney, CFPB Enters Kraninger Era,” Clark Hill Member Joann Needleman Gives Opinion on Mulvaney & Cordray and What’s to Come for Kraninger
PHILADELPHIA, PA – On December 6, 2018 Law360 published the article, “After Year With Mulvaney, CFPB Enters Kraninger Era.” The article compares the Mulvaney to the Cordray era.
Joann Needleman, Leader of Clark Hill’s Consumer Financial Services Regulatory and Compliance Business Unit says, “I just don’t see where the deregulation is. The bureau is up and running, and for the most part, people stayed and they’re doing their work, but I think the approach of the bureau is very different under Mulvaney in that it’s much more measured and thoughtful to ensure that the statute is being followed.”
The article also discusses Kathleen Kraninger, the next director of the Consumer Financial Protection Bureau (CFPB). Needleman states, “She’s obviously a very bright woman. I think the biggest concern has always been her lack of financial services experience – as in, knowing the markets – but then again, Cordray didn’t know the markets that well, either. There will be a lot of on-the-job training.”
To view the full article on Law360, please click here.
Joann Needleman serves as a navigator to her clients seeking advice and guidance in the complex regulatory environment facing the financial services industry. She provides counsel, consultation, and litigation services to a wide array of financial institutions, law firms, credit reporting agencies, as well as venture capital firms looking to invest in the fin-tech space. A former member of the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, Joann has been able to provide her clients with useful strategies in order to prepare for new areas of regulatory scrutiny. Often asked by clients to quickly assess a new policy statements or guidance issued by federal and state regulators, Joann is able to break down the issues and provide common sense solutions that ensure her clients’ policies, procedures and business operations are fully compliant with current regulatory expectations.