There goes the plan to have those inconvenient records destroyed by not paying those annoying monthly fees. It was like killing two birds with one stone.

More seriously, both parties will need to go back and review their contract in light of the fact that many records have very, very long retention obligations associated with them; e.g., records dealing with AML or with long-term customer contracts.

Mr. Mulvaney argues that the CFPB should be made into an ordinary regulatory agency, accountable to Congress and with leadership composed of members of both political parties. Senator Warren's argument that Mr. Mulvaney is "killing" the CFPB by suggesting that Congress should have authority over it is very strange, particularly given the conventional wisdom that Democrats will attain a majority in at least one house of Congress in the next election.

Rather than denounce Mr. Mulvaney,…

Lanny is smart, thoughtful, careful, fair, and an excellent lawyer. At a time when regulation is becoming ever more complicated, the MSRB is fortunate to be able to hire a professional with such a broad range of management experience.

From OCIE's mouth to Compliance's ear.