Compliance, Financial Regulations 8 Jan 2025 compliance, consumer protection, administrative practice and procedure, financial regulations, inflation adjustment, penalties, civil penalties, cfpb

📈CFPB Civil Penalty Adjustments

The Consumer Financial Protection Bureau (CFPB) is adjusting for inflation the maximum amount of each civil penalty within the CFPB's jurisdiction. These adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990 (Inflation Adjustment Act), as amended by the Debt Collection Improvement Act of 1996 and further amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The inflation adjustments mandated by the Inflation Adjustment Act serve to maintain the deterrent effect of civil penalties and to promote compliance with the law.

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Compliance, Regulation 3 Jan 2025 cfpb, supervision records, regulatory compliance, consumer finance, privacy act

🔍CFPB Proposes Rescindment of Privacy Act Records System Notice

Pursuant to the Privacy Act of 1974, and Office of Management and Budget (OMB) Circular No. A-108, the Consumer Financial Protection Bureau (CFPB) proposes to rescind existing system of records "CFPB.003 Non-Depository Institution Supervision Database." Records maintained under this system of records have been consolidated into the modified "CFPB.002 Supervision and Examination Records."

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