Manatt Financial Services Partner Bryan Schneider spoke with the Receivables Roundtable podcast in a recent episode focused on the financial services regulatory environment and his experience as both an attorney in the private sector and a regulatory official.
Schneider said his perspective as a former associate director for the Consumer Financial Protection Bureau helps him better anticipate client needs by having firsthand experience with the complex regulatory environment and what regulators see as important.
He also gave insights about accountability within the Bureau and how the CFPB Director answers to those in power above them in the federal government. Schneider explained that though there was some concern about one person for oversight within the Bureau making the organization single-minded, he said the solidarity results in shared goals and streamlined processes.
“I will tell you working within the Bureau, having a single director does allow you to orient your work toward that director’s goal because the goal are arrived at by the director after careful consultation with the staff,” Schneider said. “But once they’re there, they’re there, and you can orient to them.”
Listen to and watch the full podcast episode here.