1/6/17

Smith Quoted in Columbus Business First Story Titled “Cordray-Led Watchdog Agency in Cross-Hairs of Financial Reformers”

Attorneys & Professionals

Jeff Smith, a partner in the Columbus office, was quoted in a Columbus Business First story regarding the future of the U.S. Consumer Financial Protection Bureau (CFPB) under the Trump Administration.

“But the Consumer Financial Protection Bureau could be an easy target for Capitol Hill Republicans. Changing the agency's leadership from a single director to a committee could dampen its aggressive regulation of payday lenders and non-bank consumer finance companies.

According to the Wall Street Journal, GOP lawmakers are going as far as searching the past of Director Richard Cordray to unseat the former Ohio attorney general from his job.

‘They will take a hard-and-fast look at the CFPB because it is such a large and unusually powerful (agency),’ said Jeff Smith, a banking attorney at Vorys Sater Seymour and Pease LLP in Columbus. ‘The other aspects (of regulation) I think they'll be deliberate about and look carefully at.’”

To read the entire article, visit the Columbus Business First website. (Subscription may be required).