Nancy Thomas spoke to S&P Global Market
Intelligence about the Consumer Financial Protection
Bureau rescinding a Trump-era policy statement, signaling a return
to stronger and more frequent crackdowns on abuse.
According to Nancy, financial institutions are not sure when
they could face abusiveness claims.
"The bureau has not cleared out a separate space for what
abusiveness means," she said. "The industry wants
guardrails and guidance. Trying to get that guidance from
enforcement actions requires regulated entities to read the tea
leaves."
Read the full article (subscription required).
Originally published by S&P Global Market
Intelligence
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
