The CFPB's authority: Unprecedented and rapidly expanding
The Consumer Financial Protection Bureau's authority- over financial and non-financial institutions alike - is unprecedented and rapidly expanding as more and more CFPB rules become effective. What are the implications of the CFPB's regulatory and enforcement regimes, such as for:
- Auto dealers
- Third-party vendors- debt collectors, compliance consultants, field servicers, etc.
- Other consumer focused industries
- The history, scope, and structure of the CFPB
- The spectrum of entities (financial and non-financial) regulated by the CFPB
- The CFPB complaint process and complaint database- how they are used to determine the CFPB investigative and enforcement priorities in the areas of mortgages, credit cards, debt collection, student loans, etc.
- The third-party risk management programs that financial institutions must enact- and how third-party vendors should respond
- The CFPB's efforts to address fair lending issues and unfair, deceptive or abusive acts or practices in the consumer finance industry- including auto loans, mortgages, financing for direct sales products, etc.
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