White House Responds to “We the People” Petition

You can read the FISCA new release HERE.  Basically, the White House said, whatever the CFPB says….we’re fine with that.

The silver lining here is that the petition bought us some time and will force the CFPB to really look at the issue.  It bought us some more time possibly.

Here is a pretty good take away from FISCA.  I think getting 105,000 signatures was a good show of solidarity.

The White House response was, however, encouraging in its report that the CFPB is conducting a “thorough analysis” of this issue and that the determination of whether to move forward with these rules is the CFPB’s, “if they do move forward.” “We feel this may reflect the recognition that additional research is necessary before promulgating rules, a view recently advanced by a researcher from the New York Federal Reserve,” D’Alessio said.

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