📑CFPB Proposes Standard for Nonbank Supervision and Consumer Risks
The Consumer Financial Protection Bureau (Bureau or CFPB) is proposing to adopt a standard definition of "risks to consumers with regard to the offering or provision of consumer financial products or services" that will bind the Bureau in proceedings to designate nonbank covered persons for Bureau supervision. This will ensure that the Bureau acts within the bounds of its statutory authority and provide clarity to institutions about the standard the Bureau applies.
Learn More🔒CFPB Personal Financial Data Rights Proposed Rulemaking Overview
The Consumer Financial Protection Bureau (CFPB or Bureau) is seeking comments and data to inform its consideration of four issues related to implementation of section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). These issues are: the proper understanding of who can serve as a "representative" making a request on behalf of the consumer; the optimal approach to the assessment of fees to defray the costs incurred by a "covered person" in responding to a customer driven request; the threat and cost-benefit pictures for data security associated with section 1033 compliance; and the threat picture for data privacy associated with section 1033 compliance.
Learn More💼CFPB Considers Changes to Debt Collection Larger Participants Rule
The Consumer Financial Protection Bureau (CFPB or Bureau) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer debt collection market established by the Bureau's Defining Larger Participants of the Consumer Debt Collection Market Final Rule published on October 31, 2012 (Consumer Debt Collection Larger Participant Rule).
Learn More📊CFPB Proposes Revisions to Consumer Reporting Market Regulations
The Consumer Financial Protection Bureau (CFPB or Bureau) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer reporting market established by the Bureau's Defining Larger Participants of the Consumer Reporting Market Final Rule published on July 20, 2012 (Consumer Reporting Larger Participant Rule).
Learn More⚖️Rescission of State Official Notification Rules and Business Implications
The Consumer Financial Protection Bureau (Bureau) is withdrawing a previously published direct final rule that would have rescinded procedures by which a State official must notify the Bureau when the official takes an action to enforce the Consumer Financial Protection Act.
Learn More🏦Analysis of Consumer Financial Civil Penalty Fund Rule Amendment
The Consumer Financial Protection Bureau (Bureau or CFPB) is proposing to amend its 2013 rule implementing the provision of the Consumer Financial Protection Act of 2010 (CFPA or Act) that establishes a Consumer Financial Civil Penalty Fund (Civil Penalty Fund). Under the CFPA, the Civil Penalty Fund may be used for payments to victims of activities subject to civil penalties; to the extent victims cannot be located or payments are not practicable, the Bureau may use funds for consumer education and financial literacy programs. This proposed rule would remove references to allocating funds for consumer education and financial literacy programs.
Learn More📝CFPB Notice on Information Collection Activities
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) requests the Office of Management and Budget's (OMB's) extension for the existing information collection titled "Generic Information Collection Plan for the Collection of Qualitative Feedback on Bureau Service Delivery" approved under OMB Control Number 3170-0024.
Learn More📄CFPB Notice
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) requests the Office of Management and Budget's (OMB's) extension of the existing information collection titled "Consumer Complaint Intake System Company Portal Boarding Form" approved under OMB Control Number 3170-0054.
Learn More📑Rescission of State Notification Rules and Business Implications
This direct final rule rescinds the Consumer Financial Protection Bureau's (Bureau's) procedures by which a State official must notify the Bureau when the official takes an action to enforce the Consumer Financial Protection Act.
Learn More📜CFPB Rescinds State Enforcement Rule Impacting Financial Businesses
The Consumer Financial Protection Bureau (Bureau or CFPB) is rescinding its May 2022 interpretive rule regarding the scope of State enforcement under section 1042 of the Consumer Financial Protection Act of 2010 (CFPA) and related provisions.
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