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Category: Press release |
Published

CFPB Proposes Procedural Rule on Supervising Nonbanks that Pose Risks to Consumers

“This is an important step in the development of our nonbank supervision program,” said CFPB Director Richard Cordray. “This proposal allows us to reach nonbanks that we would not otherwise supervise, while providing industry with a streamlined process that is fair and efficient.”

Category: Press release |
Published

Consumer Financial Protection Bureau Seeks Public Input On Key Element Of Nonbank Supervision Program

To prepare for this eventual rulemaking, the CFPB is seeking public input through a Notice and Request for Comment, which identifies six markets for potential inclusion in an initial rule: debt collection; consumer reporting; consumer credit and related activities; money transmitting, check cashing, and related activities; prepaid cards; and debt relief services.