CFPB Director Rohit Chopra recently warned that companies that repeatedly violate consumer protection and privacy laws may face additional non-monetary penalties, such as penalties that identify executives and require “meaningful” changes to business practices.
Student loan servicers are in a tough bind, dealing with reduced staff as they prepare for the unprecedented situation of 44 million borrowers returning to payments later this summer.
Sifting through receipts and debts, Matt McCune can look back through the financial debris of his bankruptcy clients’ lives. In the wreckage, he often finds a common accelerant.
NAFCU’s award-winning advocacy team was on Capitol Hill Friday briefing legislative staff members on the credit union difference, including basics on structure, share insurance, regulatory oversight, industry priorities, and how credit unions are committed to serving their 135 million members.
The Financial Stability Oversight Council (FSOC) – which includes leaders from financial agencies, including NCUA Chairman Todd Harper – met Friday and unanimously approved issuing for public comment a proposed analytical framework for financial stability risks, as well as proposed interpretive guidance on supervision and enhanced prudential standards for certain nonbank financial companies.
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