- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Image: Title: LampeFinancial firms worried about an enforcement action from the Consumer Financial Protection Bureau may soon get a reprieve. The agency has proposed a no-action letter policy that would let financial firms test the regulatory waters before they roll out new financial products. The application process, however, requires much ...
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Banks, retailers, online services, and others that issue prepaid cards to consumers will soon have some new rules to follow, including the need to conduct “ability to repay” assessments if they offer credit options. The rules, proposed by the Consumer Financial Protection Bureau, could also bring new regulations to mobile ...
Experian, the credit reporting giant, let compliance slide when it came to addressing consumer complaints about incorrect data, the Consumer Financial Protection Bureau said in a lawsuit against the credit agency.
Banks and other lenders will be prohibited from using medical debt information in credit reports, under a new rule finalized by the Consumer Financial Protection Bureau, the agency said.
