Consumer Financial Protection Bureau — Lanton Law Blog

Posts tagged Consumer Financial Protection Bureau

CFPB Will Invoke Dormant Authority to Scrutinize Nonbank Companies

The Consumer Financial Protection Bureau (CFPB) issued an announcement that it is “invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers. The CFPB believes that utilizing this dormant authority will help protect consumers and level the playing field between banks and nonbanks. The CFPB is also seeking public comments on a procedural rule to make this process more transparent.”

banking, finance, fintechRon LantonApril 28, 2022Consumer Financial Protection Bureau, nonbanks, Dodd-Frank, Consumer Protection Act, CFPB

Rohit Chopra of the Consumer Financial Protection Bureau testified before the House Financial Services Committee on Changing Tech Stakeholder Influence

Rohit Chopra who is the Director of the Consumer Financial Protection Bureau testified before the House Financial Services Committee regarding how “Congress has tasked the CFPB with monitoring market conditions to spot risks, ensure compliance with existing law, and promote competition in order to protect families and honest businesses.”

technology, tech, telecommunications, fintech, CFPBRon LantonOctober 28, 2021Consumer Financial Protection Bureau, Rohit Chopra, House Financial Services Committee