Written by Steve Van Beek
Yesterday, I had the opportunity to give a presentation on the Consumer Financial Protection Bureau. You may have heard of these guys. It was a fun presentation with a very good questions from the attendees.
I wanted to share a recent article on the CFPB that I wrote for The Federal Credit Union. The article takes "A Closer Look at the CFPB" and discusses the following areas:
- The CFPB's Supervision and Examination Powers;
- The CFPB's Regulatory Authority;
- Unfair, Deceptive or Abusive Acts or Practices (UDAAP); and
- Additional Areas of Focus.
The full article is here and might be useful to share with your colleagues, senior management and your Boards. Note: Since the article was written, the CFPB has already moved forward on regulating nonbanks.
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The CFPB will not be a passive agency and there will be plenty more CFPB issues to discuss in the future. I'll be talking about the CFPB at future NAFCU Conferences as well, including:
- NAFCU's Board of Director and Supervisory Committee Conference - May 16-18 in Palm Springs, CA;
- NAFCU's Annual Conference & Exhibition - July 24-28 in Nashville, TN; and
- NAFCU's 2012 Regulatory Compliance Seminar - October 23-26 in Seattle, Washington.
Of course, we'll be talking more than just the CFPB - but you can be assured you or your colleagues will receive the latest on the CFPB and how its actions will impact your credit union.
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