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Did CFPB Have Authority To Issue New Regs Under RESPA?

Law360 (June 12, 2018, 2:14 PM EDT) -- It has been over 35 years since I took Administrative Law in law school, but I remember well the basic legal maxim that an executive agency, independent or otherwise, derives its power and authority to regulate from the U.S. Congress. The threshold question for any agency’s regulatory initiative is whether Congress delegated specific or general authority to that agency to regulate in the contemplated manner. The swarm of recent requests for information issued by the “new” Consumer Financial Protection Bureau triggered this memory when I read...
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