The U.S. Chamber of Commerce has sent a detailed letter, dated February 12, 2004, addressed to Director Cordray of the Consumer Finance Protection Bureau (CFPB) in which it expresses its disapproval of the CFPB’s approach of “regulation by enforcement settlement combined with issuance of brief guidance statements” in lieu of utilizing a formal rulemaking

Banks have recently come under fire from federal and state regulators and prosecutors.  In late 2013, the Justice Department launched “Operation Choke Point,” an initiative that is scrutinizing banks to crack down on lucrative relationships they have with predatory lenders and unscrupulous online merchants.  The Justice Department is investigating whether some banks, because of significant