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Tag Archives: Bureau

New CFPB Proposal to Overhaul Existing No-Action Letter Policy and Create a Federal Regulatory Sandbox

Posted in Regulatory and Compliance
FinTech appears to be the next industry set to benefit from the Trump administration’s ongoing deregulatory push. The Bureau of Consumer Financial Protection’s (“Bureau”) long-gestating update to the Obama era no-action letter policy was announced as one of the final acts of outgoing Acting Director Mick Mulvaney. Though no-action letter po… Read the rest

What the Security Group Consent Order Suggests About the CFPB’s Direction

Posted in Regulatory and Compliance
For many months, the Consumer Financial Protection Bureau (Bureau) has hinted it would focus its enforcement efforts on debt collection conduct. The Bureau’s settlement earlier this month with Security Group Inc., Security Finance Corporation of Spartanburg, and Professional Financial Services Corp. (collectively, “Security Group”) is th… Read the rest