Alerts5.9.22
Nonbank Financial Companies Now Covered By Consumer Laws
The Consumer Financial Protection Bureau intends to examine and supervise nonbank financial providers, products and services under broad authority granted under Dodd-Frank Act
The Consumer Financial Protection Bureau (CFPB) recently welcomed nonbank fintech companies to the world of CFPB regulation. It did so by announcing its intent to use its long-dormant authority to hold nonbank financial companies to the same standards as traditional banking institutions when it comes to consumer financial products and services.
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