On June 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule requiring covered nonbanks to register enforcement orders, and it is a doozy. Not only will covered nonbanks be required to register public orders issued by agencies and courts with the CFPB, but they will have to go back to 2017. And not only will the CFPB publish the orders, but a large subgroup will have to certify on a yearly basis their full compliance with the orders or make a self-disclosure to the CFPB of any compliance failures. This rule has obvious major consequences for any covered person caught in its web, making the exact ambit of the rule crucial. Given the final rule clocks in at a whopping 486 pages, this post will attempt to provide a roadmap through the rule, focusing on what is required and who is covered.
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LOCKPORT, N.Y. -- Spire Recovery Solutions, founded by U.S. Military Veterans Jacob Torriere and Joseph Torriere, is proud to serve both its local and national communities. Over the first half of 2024, Spire has donated to four unique organizations dedicated to improving the lives of children, service members, veterans, and more.
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The CFPB continued with a high level of activity in May. In this month's article, we share some of our top "bites" of the month to help you stay up to date.
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