The Student Borrower Protection Center has sent a letter to CFPB Director Kraninger urging her to designate the National Student Clearinghouse as a “consumer reporting agency,” supervise it as a “larger participant,” and add it to the CFPB’s public list of CRAs.  The letter is signed by Seth Frotman, who formerly served as the CFPB’s

The CFPB published a policy statement in today’s Federal Register to announce that, going forward, it is establishing a new “Compliance Aids” designation for certain Bureau guidance.  The policy statement becomes applicable on February 1, 2020.

In the Supplementary Information accompanying the Policy Statement, the Bureau gives examples of compliance resources it has previously released.  

On January 31, the University of Utah S.J. Quinney College of Law will hold a program, “Consumer Protection in the Trump Administration,” at which CFPB Director Kathy Kraninger will deliver remarks.  The program, which is part of the University’s 2020 Law and Biomedicine Colloquium, is free and open to the public.

Director Kraninger

The CFPB has published a notice in the Federal Register announcing that it is seeking applications for membership on its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.  For an applicant to be considered, the Bureau must receive his or her complete application packet by February 27, 2020.

Our podcast looks at industry and consumer comments and perspectives on key issues, including the proposal’s potential implications for creditors collecting their own debts through UDAAP/UDAP and state collection laws, its approach to electronic communications and “meaningful attorney involvement,” and whether a final rule should address information transfers and file reviews or collecting time-barred debt. 

The CFPB has announced the initial four members of its Taskforce on Federal Consumer Financial Law.  This past October, the Bureau announced its plans to establish the Taskforce to examine ways to harmonize and modernize federal consumer financial laws.

The four members include Todd J. Zywicki, Professor of Law at George Mason University’s Antonin Scalia

The CFPB and Utah AG’s Office have announced that they will hold the first joint office hours as part of the American Consumer Financial Innovation Network (ACFIN).  The joint office hours will be held on January 30, 2020 in Salt Lake City, Utah.

The CFPB announced ACFIN’s creation last September, in conjunction with finalizing revisions