CFPB Issues Second Semi-Annual Report; Nearly Mum on Enforcement

The Consumer Financial Protection Bureau has issued its 82-page second semi-annual report. It should be an interesting read. This article by Jenna Green notes that the report contains only "four sentences about the Office of Enforcement — even though the category "Supervision, Enforcement, Fair Lending" accounted for a hefty $63 million in agency spending through June 2012 — almost a quarter of all CFPB expenditures." The report says that '[t]he investigations currently underway span the full breadth of the Bureau's enforcement jurisdiction. Further detail about ongoing investigations will not generally be made public by the Bureau until a public enforcement action is filed." So, we should expect to hear a lot more about enforcement down the road.