Compliance Blog

Mar 13, 2012
Categories: Board and Governance

Talking About the CFPB

Written by Steve Van Beek

Yesterday, I had the opportunity to give a presentation on the Consumer Financial Protection Bureau.  You may have heard of these guys.  It was a fun presentation with a very good questions from the attendees.  

I wanted to share a recent article on the CFPB that I wrote for The Federal Credit Union.  The article takes "A Closer Look at the CFPB" and discusses the following areas:

  • The CFPB's Supervision and Examination Powers;
  • The CFPB's Regulatory Authority;
  • Unfair, Deceptive or Abusive Acts or Practices (UDAAP); and
  • Additional Areas of Focus.

The full article is here and might be useful to share with your colleagues, senior management and your Boards.  Note: Since the article was written, the CFPB has already moved forward on regulating nonbanks.

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The CFPB will not be a passive agency and there will be plenty more CFPB issues to discuss in the future.  I'll be talking about the CFPB at future NAFCU Conferences as well, including:

Of course, we'll be talking more than just the CFPB - but you can be assured you or your colleagues will receive the latest on the CFPB and how its actions will impact your credit union.