- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Department of Education has killed an information-sharing agreement with the CFPB that was intended to protect student loan borrowers. It called the Bureau “an overreaching and unaccountable agency.”
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Ohio-based Fifth Third Bank will pay $20 million in penalties to the Consumer Financial Protection Bureau for allegedly opening fake bank accounts and wrongfully repossessing customers’ vehicles.
During a panel at Compliance Week’s Financial Crimes and Regulatory Compliance Summit, held June 10-11 in New York, experts discussed nuances in bank-financial technology partnerships, offering best practices for how banks should protect themselves.
The Consumer Financial Protection Bureau passed a new rule requiring nonbank financial companies to register consumer protection orders filed against them by other federal agencies, courts, or states.
