Allied Progress, a consumer watchdog, sued the CFPB and the OMB on Wednesday for failing to respond to a request for documents on Kathy Kraninger, President Trump's nominee to lead the CFPB.
As the company boosts originations to subprime and other borrowers, it remains to be seen if the improvements in asset quality will continue. A similar question mark is hanging over many consumer lenders these days.
The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.
In addition to leading the company’s national business banking efforts, Peter Sefzik will also oversee small-business banking. Brian Foley, the chief credit officer for the Texas market, will succeed him as market president.
Rep. Maxine Waters said fixing Fannie Mae and Freddie Mac would top her list of priorities if Democrats take control of the House in this year's midterm elections and she becomes leader of the Financial Services Committee next year.
