On the unfortunate chance your company’s subject to CFPB’s supervision and examination, you need to know what you’re getting into. The CFPB created a 924 page manual (version 2, released in October 2012) so that companies could be clear on what to expect – clear as mud, right? Tucked into that tome is a handy […]
The latest corporate compliance news around the topic of Fair Lending. CFPB, DOJ, FTC – tools and insights to keep you out of these regulators’ crosshairs.
The CFPB releases a Monthly Complaint Report which provides high level insight on consumer complaint trends for 11 products including consumer loans. According to Compliance Week, of the over 1 million public complaints the top 100,00 are about debt collector’s harassing and deceptive tactics.
“The customer is always right” is no longer just a common business principle, but a regulatory imperative.
Greetings to everyone we met at this year’s American Financial Services Association conference! We had a blast at the 21st Annual AFSA Vehicle Finance Conference and Expo, hanging out in New Orleans (shoutout to Pat O’Brien’s and Lafitte’s Blacksmith Shop Bar—the oldest bar in the US) and participating in numerous worthwhile conversations with auto lenders […]
Hudson Cook stops by the Smart Compliance Blog this week, where Allen Denson and Shannon McNeal give us their take on recent actions taken against the CFPB. Here’s what they had to say: Earlier this month an anonymous company sued the CFPB, questioning whether the agency has the authority to conduct investigations following the D.C. […]
“I don’t see less regulations coming out. I see probably more, if anything. It seems like every time we turn around, we have to do another training on something, or we have to make sure that we have to create another policy to cover everyone. I don’t see that getting any better,” mentions Robin Parse, in […]
We have come to the final recap in the four-part CFPB Webinar Series. Today, our focus is The Audit Function. To dive deep into the audit function, review best practices for hiring and managing auditors, and identify what regulators need from your audit, you will hear from frequent speaker and author on consumer financial services […]
It’s not always easy to talk about compliance. But when your lending partner needs to prove its clients’ compliance to the Consumer Financial Protection Bureau, you may not have a choice.