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Attorneys examine US regulator moves to finalize rules, plus expectations and efforts of the compliance community in preparing for them.
CFPB Reg V
This regulation implements the Fair Credit Reporting Act (FCRA) and governs the use of information on consumers by consumer reporting agencies as well as those obtaining and using information about consumers in order to determine their eligibility for products, services or employment.
Rule Overview
Jurisdiction: United States
Regulator: CFPB
Topic: Consumer Protection
CFPB 12 CFR Part 1022 (Regulation V)Overview
Latest News
Latest News
Our in-brief roundup of notable stories from the last week.
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Several US agencies rescinded Interagency Statement to clarify lenders "can't discriminate against borrowers based on prohibited characteristics."
Our in-brief roundup of notable stories from the last week.
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The change came almost exactly one year after President Trump declared it federal policy to eliminate the doctrine where possible.
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In a court-ordered reversal, the beleaguered agency has agreed to seek quarterly funding from the Federal Reserve after all.
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Trump administration lawyers argued that because the Federal Reserve was operating at a loss, the CFPB could not request funds from it.
Failure to maintain ATOs and lack of documentation key factors in decision.