The Consumer Financial Protection Bureau (CFPB) has recently launched a public database aimed at identifying nonbank financial companies that are in violation of consumer protection laws. This new tool is part of the CFPB’s efforts to increase transparency and accountability within the financial industry. However, trade groups have voiced their concerns about the potential negative impact this database could have on nonbank financial companies.
Key points:
– CFPB has created a public database to identify nonbank financial companies violating consumer laws
– Database is part of the CFPB’s efforts to increase transparency and accountability
– Trade groups have expressed concerns about the database’s impact on nonbank financial companies
– The database is aimed at improving consumer protection within the financial industry.
You can read this full article at: https://www.housingwire.com/articles/cfpb-creates-public-database-of-nonbank-repeat-offenders/(subscription required)
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