The U.S. Consumer Financial Protection Bureau (CFPB) on December 12, 2022, published a new notice of proposed rulemaking (Proposed Rule) to
- create a registration system for covered persons to register and submit information about enforcement orders
- require covered persons supervised by the CFPB to designate an executive to attest to compliance with such orders
What is perhaps most interesting about this proposal is the focus on nonbank consumer financial service and product providers.
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