Change for the Sake of Change

Discussion in 'Off-Topic' started by Sokolov, Feb 19, 2019.

  1. Sokolov

    Sokolov The One True Cactuar Octopi

    Mick Mulvaney: Changing CFPB’s name sends a message

    "“We changed the name because it’s the name in the statute,” Mulvaney told reporters Tuesday at the agency. “And if ... your whole theme is going to be, ‘we’re going to follow the statute,’ I thought it was a good, small way — but a very visible way — to send a message.”

    Mulvaney said that the changes would not cost anything, and are a good thing as they will bring up discussion surrounding the underlying law, according to the article."

    "Would not cost anything."

    Except if you include the cost of changing the seal, updating letterheads, business cards, correspondence/templates, updating signs, updating websites... and the list goes on.

    It is estimated that this name change could cost the banks around $300 million, BY HIS OWN AGENCY:

    "The agency’s analysis found that firms would be forced to spend roughly $300 million total to update internal databases, regulatory filings and disclosure forms with the new name in order to comply with those rules."

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