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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-12-13T14:59:00
The Consumer Financial Protection Bureau (CFPB) proposed a rule that would require certain nonbank financial firms to register consumer protection orders filed against them by other federal agencies, courts, or states into a new, publicly accessible registry.
The CFPB’s repeat offender registry would “help unify the efforts of consumer financial protection enforcers” regarding nonbank financial firms and “allow the CFPB to track and mitigate the risks posed by repeat offenders while also being able to monitor all lawbreakers subject to agency and court orders,” the agency said Monday in a press release.
The proposed rule, which will be open for public comment for 60 days following publication in the Federal Register, would require covered nonbank financial institutions to report to the new CFPB registry “final agency and court orders and judgments, including consent and stipulated orders, brought under federal consumer financial protection laws or state laws regarding unfair, deceptive, or abusive acts or practices,” the press release said.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-04-24T18:28:00Z By Aaron Nicodemus
Federal regulators proposed to place nonbank financial institutions under supervision of the Federal Reserve Board if their activities are deemed to pose a systemic risk to the U.S. financial system.
2023-03-16T17:06:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau is asking companies that “track and collect information on people’s personal lives” to provide information to the agency as it considers rulemaking under the Fair Credit Reporting Act.
2022-10-25T12:30:00Z By Aaron Nicodemus
An appeals court’s finding the Consumer Financial Protection Bureau’s funding mechanism to be unconstitutional could affect a multitude of lawsuits filed against the agency, according to legal experts.
2024-11-20T16:51:00Z By Jeff Dale
President-elect Donald Trump announced he plans to appoint Cantor Fitzgerald President and CEO Howard Lutnick to lead the U.S. Commerce Department, as the incoming administration is expected to charge import tariffs against friends and foes.
2024-11-14T15:50:00Z By Ruth Prickett
If your business uses leather, rubber, wood, beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation.
2024-11-04T14:28:00Z By Adrianne Appel
With the presidential election this week, one fear has remained on the minds of voters regardless of their political stripe–that artificial intelligence will be misused to change the outcome of the race.
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