Rachel Witkowski is a community banking reporter at American Banker. She focuses on banks under $20 billion in assets specializing in the Southeast and California. Prior to American Banker, Rachel worked at the Jacksonville Business Journal covering banks, insurance services and public companies in Northeast Florida. During her four years at the JBJ, Rachel was recognized by several trade associations for articles related to Florida�s financial industry downfall and the hurricane insurance crisis after 2006.
The affordable housing market has dried up in major cities across the country. In response, regulators and lenders are looking into new programs to get people back into single-family homes while also exploring ways to encourage multifamily developments.
While most federal banking regulators use enforcement actions as a way to shape industry practices, the Consumer Financial Protection Bureau is taking that to a whole other level, frequently using orders as a substitute for new rules or guidelines.
The Consumer Financial Protection Bureau is receiving more pushback than fellow financial regulators from companies it hits with enforcement orders, likely as a result of the stronger wording the agency uses to publicize the actions.