Bradley Partner Robert Maddox Quoted in Inside Mortgage Finance on Predictions for New CFPB Director Under Biden

Bradley attorney Robert Maddox was quoted in Inside Mortgage Finance predicting who may become the next CFPB director under a Biden presidency and what challenges lie ahead. 

North Carolina Attorney General Josh Stein’s name has been floating around as a possible successor to Kathy Kraninger, the current CFPB director. Stein participated in the $25 billion settlement in 2012 as a representative of monitor Joseph Smith. Stein “coordinated with all the attorney generals,” explained Maddox.

One of the major mortgage issues a new CFPB director will need to address is COVID-19-related forbearance and likely record-high delinquencies next year, said Maddox. “We are going to see a significant push in the mortgage area related to COVID, the emergency shutdown orders and [servicers’ compliance with laws],” he added.

The original article, "Biden Wins. Who Will be the Next CFPB Director?" appeared in Inside Mortgage Finance on November 9, 2020.