The Financial Institutions Advisory (FIA) practice of White & Case is pleased to introduce our inaugural quarterly newsletter on the Consumer Financial Protection Bureau's (CFPB) oversight activities. Each newsletter will highlight the CFPB's notable rulemaking, supervisory, and enforcement actions from the quarter, the potential implications and impact on the marketplace, and what industry participants should expect next.
If the first quarter is any indication, 2016 is going to be a busy year for the CFPB and market participants alike.
The CFPB Speaks
- Regulation by enforcement
- Insight into the rulemaking calendar
- Project Catalyst's no-action letter policy
- Bureau's initiatives
- Congressional testimony on small-dollar lending
- 2015 Servicemembers report
- Soliciting more consumer complaints
Data Privacy & Protection
- UDAAP violations absent evidence of consumer harm
- Changing "dealer markup" policies one entity at a time
- Enforcement actions
- Joining forces with the Solicitor General
- Annual FDCPA report
- CFPB "suggestion" to retail banks
- Update on PHH
- Designating areas as "rural" under the HELP Act
Upcoming in 2016
- Continued regulation by enforcement; Prepaid final rule; Debt Collection SBREFA panel; Increased scrutiny of marketplace lenders; Data privacy protections.
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© 2016 White & Case LLP