Debbie Goldstein, executive vice president at the Center for Responsible Lending: So I think this is shocking and disappointing but maybe not surprising…. However, what the CFPB's intent was was to set up a reasonable cushion for reserves for unexpected expenses, just like any of us might do to make sure we have enough for our expenses. In the CFPB's case, that cushion is to make sure it has enough funds to pay its personnel but also for important things like the Consumer Complaint Database, handling direct contact from consumers, who the CFPB is supposed to help, and for important enforcement actions.
