About 6 months ago, a federal court ruled that the Consumer Financial Protection Bureau, which is overseen by a single director, has an “unconstitutional” structure. At the time, we laid out a few possible scenarios for the agency’s future, and posed the question: What’s next? As it happens, this is what was next. Last month, […]
The latest corporate compliance news around the topic of CFPB Compliance. Tools and insights to keep you out of the regulator’s crosshairs.
Welcome to the age of Probably Not But Maybe. Will Washington, DC put an end to the controversial Consumer Financial Protection Bureau? Probably not… but maybe. If the CFPB goes away, will the Federal Trade Commission take its place in terms of regulating the consumer finance and automotive lending industries? Probably not… but maybe. Will […]
To understand what’s ahead for the Consumer Financial Protection Bureau, you need to understand where it’s already been. Before you continue, make sure to read our recent articles about disparate impact and fair lending in the Trump Era for background information.
Last week, we recapped Compli’s “Fair Lending in the Trump Era” webinar, which explored the past, present, and future of the Consumer Financial Protection Bureau. One of the key points in the CFPB’s development and regulatory focus, co-host Michael Benoit told us, is the theory of “disparate impact.”
Remember a time before the CFPB? Believe it or not, everyone’s favorite regulatory agency (read those last few words in whatever tone you’d like) is only 5 years old. But where we are in the Consumer Financial Protection Bureau’s overall saga is hard to say. President Donald Trump has expressed skepticism toward the agency, and […]
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 customer is always right” is no longer just a common business principle, but a regulatory imperative.
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 […]