CFPB’s Regs Are Wind Beneath Its Wings
From Regulation B to Regulation Z and beyond, the Consumer Financial Protection Bureau inherited a number of regs from seven different agencies. In doing so, the CFPB has made it a priority to streamline regulations by updating, modifying and even eliminating some provisions.
To that end, the CFPB has issued several requests for comments. Twenty-nine have already closed and nine remain open. Following is a summary of the top four CFPB non-lending regulatory issues the agency has addressed that are the biggest concern for credit unions.